Welcoming the launch of the Women and Pensions Network on Monday 7th November Stephen Williams MP is calling for the new Secretary of State for Work and Pensions to end the failure of the current pension system for women and carers. The new network includes a host of organisations with an interest in the field, including Help the Aged and the Association of British Insurers.
Stephen Williams' call comes after a report published last week by the Department of Work and Pensions showed that only by 2025 will men and women have similar levels of entitlement to the basic state pension, and this is partly because the levels of entitlement amongst men are expected to fall! At present, only 24% of women retiring today are entitled to a full basic State Pension on the basis of their own contributions, compared to just less than 90% of men.
That means that unless there is radical change to the pension system, in Bristol West constituency most of the 8,280 women aged between 45 and 59 are being told that the system will continue to effectively discriminate against them leaving them with poorer pensions when they retire.
