News In 5 Minutes

News When You Want It

UK unemployment rate for women 65+ surges after state pension age changes | Personal Finance | Finance

A WASPI spokesperson said: “As a campaign group for women, born in the 1950s who have lost up to six years of their state pension without adequate notice, we have been warning the Government of the impact of this on older women for six years. We know full well the difficulty women have had finding work in their sixties.

“This is especially true for those who had already taken early retirement to care for elderly parents or partners. We know the impact on their finances, their health and their lives. We know how they are living on their savings, and have lost their financial independence, their homes and the chance of a peaceful retirement.”

They added: “Women, already disadvantaged by having a significantly reduced pension ‘pot’ to that of a man due to unequal pay, irregular work patterns and caring responsibilities, took a huge hit with this loss of their state pension with little or no time to make alternative arrangements. Their plans for retirement were shattered.

“We look forward to the Parliamentary and Health Service Ombudsman’s report on his investigation into maladministration by the DWP. WASPI call on the Government to acknowledge the serious position these women find themselves in and to make proper compensation for those 3.8 million women affected.”

Source link