Concerns were raised today about the fairness of current pension arrangements, and the way that recent changes were hitting women harder than men. While 92% of men will claim a Basic State Pension at some point, for women the figure is only 13%.
Alex Cunningham, the Member of Parliament for Stockton North said that the gender divide made for ‘sorry reading’, and that women should get a fairer deal. The new single tier pension fund of around £140 will be introduced in 2016, but it only applies to those retiring after 2016. However the poverty line set by the Government is £178 per week.
The campaign group, National Pensions Convention Women’s Network, which was set up earlier this year, contacted Alex to update him on the situation, and called for the Basic State Pension to be set above the poverty level for all pensions and all pensioners.
Alex MP said:
“The leaflets and information I was sent by the National Pensions Convention Women’s Network made for sorry reading. Women are doing badly out of out pensions system, with only 13% claiming the basic state pension.
“The Government need to do more to iron out the iniquities in the system, and make sure that everyone receives a pension that puts them above the poverty line.”