Women should be given 'early access' to State Pension, MPs suggest
Women aged 50 and above who were provided with little notice that they would have to work for longer before retiring should be given early access to their State Pension, a committee of MPs has recommended.
Within an interim report published by the Work and Pensions Select Committee on the matter, proposals were put forward to potentially allow women who have been adversely affected by the rise in the State Pension age to claim their State Pension sooner than scheduled.
Women could also be given the option to retire earlier.
However, this would result in individuals receiving lower weekly pension payments throughout their retirement.
Chairman of the committee, Frank Field MP, said: ‘This interim report opens up the debate which I’m sure MPs from all sides will want to pursue. We will begin taking fuller evidence on the options as soon as possible’.
Women born after 6 April 1951 will see their retirement age raised gradually. These individuals should have been warned that they would not be entitled to receive a State Pension once they reached 60.
From 6 April 2016, eligible retirees will be able to claim the new State Pension if:
- they are a man born on or after 6 April 1951
- they are a woman born on or after 6 April 1953.
Those who reach State Pension age before 6 April 2016 will receive the current State Pension.
From 2020, the State Pension age will be equalised for men and women, and will be set at 66.