Womens State Pension

Pleased to attend the debate on the women’s state pension age this week. Having taken part in previous debates on this subject and questioned Ministers on behalf of constituents I was glad to hear the Minister recognise the contribution made by older workers to the country.

 

I’m proud of the enormous progress which has been made in improving the lives of women in society and in the work place. The new State Pension means around 650,000 women will receive an average of £8 more per week in the first ten years. But as people now live longer we must face up to the reality of what this means if the system is to continue to function.

 

Ultimately the state pension age does need to go up, because it is simply unaffordable to do anything else.  To reverse the Pensions Act would cost £30 billion of money we don’t have. It is just not possible to cancel these reforms, nor duck them forever.  Pensions are by far and away one of the biggest things we spend public money on, dwarfing almost everything else, and the problem is going to get worse because more people are living longer.

 

I have pressed the government, both now and a few years ago when the most recent adjustment was made, to be as fair as possible to the women affected and to communicate clearly so people can plan. Our first priority must be to protect those who can no longer work. Secondly, we should provide the right support for those who can work and communicate changes better. Finally we must maintain sound public finances. Failure to do so hurts every single person in this country. I want those who have worked hard to be able to enjoy their retirement, and I’m confident that with a strong economy we can go on delivering this.