PARLIAMENTARY EARLY DAY MOTION
PENSIONS BILL AND PENSION AGE FOR WOMEN (2 March 2011)

That this House notes that the Pensions Bill currently before Parliament accelerates the rise in pension age to 66 for women from the originally planned date of 2026 to 2020; further notes that this will delay 2.6 million women born between 1953 and 1959 from receiving their state pension by periods of up to two years causing a projected loss in lifetime pension income for them of up to 9 per cent.; further notes that the Department for Work and Pensions Impact Assessment admits that, `The proportionate loss of lifetime pensions income for women affected by the maximum increase of two years would generally be greater than for their male contemporaries'; believes that it will be very difficult for many of these women to make appropriate financial arrangements in time to make up for the shortfall; and calls on the Government to rethink its retirement timetable in the Bill so that these women have a fairer chance to plan and save for their retirement.

Sponsored by:
James Gray (Conservative)