Gavin Newlands MP comments on the IFS report confirming pension poverty trap for women
August 2, 2017
Gavin Newlands, SNP MP for Paisley and Renfrewshire North, has commented on a report from the Institute for Fiscal Studies (IFS) saying that it confirms that the rise in the state pension age for women has hurt over a million women, with some now in a ‘Tory trap of increased income poverty.’
The report out today (Wednesday) confirms fears of the SNP that the way the Tories have handled the equalisation process has had a disproportionate effect on low income households. It has seriously hit women in the age group 60 to 62, and has given the Treasury a £5 billion windfall.
Gavin Newlands MP commented:
‘’This report makes for grim reading. It confirms what the SNP have always said that - as always - the Tories just don’t care about those on lowest incomes, and in particular this group of women who have been negatively been affected by the UK Government’s constant changing of the goal posts to the State Pension.
‘’The figures show quite clearly that with the change in the state pension age for women from 60 to 63, more than one million fewer women are in receipt of it - and at the same time the UK Government has been able to chop a whopping £4 billion of the budget.
‘’It is a Tory trap – and it has placed more women between 60 and 62 into an impoverished state.
‘’The idea of equalising pensions ages is widely accepted – but this is about the implementation and handling of it, and as this IFS research shows – the Tories have devised a way to get billions more into the Chancellor’s coffers, by hitting this group hard.
‘’This is an issue of equality and fairness. The UK government must take responsibility and do the right thing for these women. The Prime Minister must listen and end this complete unfairness- which is doing so much damage.’’