Pension minister has 'sympathy' but no solution for female retirees

clock

Pensions Minister Baroness Altmann has said she looked into helping women affected by having the start date of their state pension put back twice, but could not find a way to do so.

Some 500,000 women in their late 50s were affected by the decision of the coalition government that added up to 18 months onto the start date of their state pension. The decision has left women trying to bridge the gap at an age where re-entering the labour market is very difficult. Altmann told the BBC: "I have been looking at ways in which we might be able to help. I have been looking at it but I can't see any way of doing it," she said. Her job was to implement the past government's policy, she said. "I have so much sympathy for people whose pension age was increased at relat...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

IHT pensions changes expected to drive 'strong interest' in annuities

IHT pensions changes expected to drive 'strong interest' in annuities

Though ‘ambiguity’ persists on annuities treatment, retirement planning expert says

Jen Frost
clock 04 November 2024 • 3 min read
Budget end to overseas pensions 'loophole' could cause 'chaos'

Budget end to overseas pensions 'loophole' could cause 'chaos'

OTC applies to more transfers under changes

Jen Frost
clock 31 October 2024 • 2 min read
Pensions tax-free cash untouched – but what about those who acted pre-Budget?

Pensions tax-free cash untouched – but what about those who acted pre-Budget?

No lump sum change should be ‘welcomed’ but damage cannot be undone

Isabel Baxter
clock 31 October 2024 • 5 min read