Govt is accelerating SPA on a 'flawed basis' - Debbie Abrahams

The government is "pressing ahead to accelerate the state pension age" on a "flawed basis", Shadow Secretary of State for Work and Pensions Debbie Abrahams has said.

Speaking at the Trades Union Congress' Fixing the retirement lottery conference, today 27 February 2018, Abrahams highlighted that the planned increased of the state pension age to 68 has been justified on a very flawed basis.

"The evidence is clear that increases in life expectancy are slowing and women are most adversely affected no doubt," she said.

Abrahams continued that it is crucial to make a difference for women's income in retirement. "Women are still the lowest paid and at high risk of falling into poverty when they retire", Abrahams noted.

Also speaking at the conference, TUC policy officer Tim Sharp echoed: "Automatic enrolment still isn’t working well for women," adding that "a decent state pension could solve part of the problem regarding pensions inequality between the sexes."

Furthermore, on cost and charges, the Shadow Minister stated that the government's latest report "does not go far enough". As a result of the opacity in the pensions industry, the majority of savers are "being kept in the dark" regarding their pension savings, she added.

Overall, the MP echoed the shared view that there is a need for greater simplicity and transparency in pensions in order to get more out of the system for everyone.

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.