Parliament prepares for 'ping pong' as pension row reignites

clock

Labour has made a last attempt to stall the government's increase to the state pension age (SPA) in the very last stages of the Pensions Bill.

The government has agreed to delay the rise of the SPA to 66, scheduled for 2020, by six months. This means women in their fifties, who are the worst affected group, will wait no longer than 18 months extra for their pensions, rather than the two years they faced without the compromise. However, the issue has been reignited by an amendment submitted by Labour peer Lord McKenzie of Luton yesterday. The amendment proposes raising the SPA to 66 between 2020 and 2022, an idea previously proposed by former shadow pensions minister Rachel Reeves. The move would save the government £20...

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

British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read
SSAS and the general levy: A victory for common sense

SSAS and the general levy: A victory for common sense

The value of SSASs after general levy consultation outcome

Caitlin Southall
clock 26 March 2024 • 5 min read
Pension dashboard operators join forces to push project forward

Pension dashboard operators join forces to push project forward

Coalition aims to bring 'dashboards to consumers as early as possible'

Jasmine Urquhart
clock 25 March 2024 • 2 min read