Industry News

Women affected by State Pension delays won’t be given concessions, says Minister

Women who will be adversely affected by a hike in the State Pension age may not be offered any relief, the Secretary for Work and Pensions, Stephen Crabb, has suggested.

Many of those affected had hoped that they would be granted early access to their State Pension.

However, Mr Crabb told MPs that a compromise to the issue would not be possible.

He stated: ‘I don’t see there is a do-able policy solution. It is just fiscally impossible.’

Many women born between April 1951 and 1960 have argued that they were unaware their State Pension age was due to be raised by up to six years.

Some have reported that they do not have sufficient funds to live on, and do not have enough time to make alternative financial arrangements.

Previously, Pensions Minister Ros Altmann had reported that she was looking into ways of dealing with the issue.

Members of the Women Against State Pension Inequality (WASPI) campaign group have said that they were disappointed with the decision, but remained hopeful that a solution could be reached.

From 2020, the State Pension age will be equalised for men and women, and will be set at 66. Previously, women could retire at the age of 60, whilst men could retire at 65.