The government's "transitional arrangements" to help women hit hardest by the Pensions Bill could involve a pension credit concession, according to Tom McPhail, head of pensions research at Hargreaves Lansdown.
The Bill will equalise the state pension age (SPA) for men and women at 65 in 2018, and then raise it to 66 in 2020. This means around 500,000 women born in 1954 will face up to an extra two years wait before they can claim their pensions. Last night, during the second reading of the Pensions Bill, secretary of state for work and pensions Iain Duncan Smith said the government would not delay raising women's SPA. However, he said the government may bring in additional support for women most affected by the change. McPhail said this transitional arrangement could involve using pension c...
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