Pension changes 'should be introduced retrospectively'
Forthcoming changes laid out by the government in its pensions bill should be enacted retrospectively to prevent women and carers facing financial hardship in their retirement, it has been argued.
Elderly persons charity Age Concern reports that 85 per cent of women over the age of 60 believe that taking time away from employment for caring duties had adversely affected their ability to save for retirement.
Gordon Lishman, director general of the charity, said: "We have long-campaigned for a fair and flexible pensions system that reflects the needs of women and carers, and the proposals in the pensions bill are extremely welcome."
He added that, despite these positive reforms, the government must not neglect the current generation of impoverished women and carers, and instead make changes to the number of years needed to build a full state pension retrospectively.
Last November, John Hutton, secretary of state for work and pensions, described the pensions bill as a "landmark settlement" for the future of the UK pensions system.
He noted that by 2050, the state pension would be twice the level it would have otherwise been without the reforms.
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