P567ORACLE 567 Mon 3 Feb C4 1711:17
1/6
Women and
pensions
Women already get a raw deal with
pensions, but the proposed changes in
the state earnings related pension
(SERPs) could make the situation worse,
says Sue Gorska.
Two-thirds of the 9.6m retired people
in this country are women. At birth a
girl can expect to live an average 76
years compared to a boy's 70 ─ which
means longer in retirement. Even so
pensions are very much geared to men's
needs. Many pensioners are harder up
than ever before and, despite our woman
Prime Minister, women pensioners get
the roughest ride.
more follows >
Your Money ...560 Holidays ...580
P567ORACLE 567 Mon 3 Feb C4 1714:02
2/6
Women and
pensions
Pension schemes are still based on the
assumption that the man is the bread-
winner ─ despite the fact that more
married women work and 1 in 3 marriages
end in divorce. By the time they're 80
years old, 9 out of 10 women are on
their own ─ single, widowed, divorced.
It's not surprising that, since pens-
ions are geared to men's needs, half of
all retired women live on very low in-
comes, with 3 million claiming means
tested benefits. Only one third of
retired women get the full basic state
pension and only 21% of women over 60
get their own occupational pension ─
compared to 60% of men over 65.
more follows >
Your Money ...560 Holidays ...580
P567ORACLE 567 Mon 3 Feb C4 1702:41
3/6
Women and
pensions
In 1978 a new pension scheme was intro-
duced which took account of women's
home responsibilities. Anyone not in
paid employment and caring for children
or sick relatives could have a 20-year
gap in National Insurance contributions
before their basic state pension was
affected. Anyone not in an occupational
pension scheme could contribute to a
state earnings related pension which
provided a top up pension based on an
individual's best 20 year's earnings.
Recent changes mean that SERPs will be
calculated on a lifetime of employment
which means that women who take time
off work will now lose out.
more follows >
Your Money ...560 Holidays ...580
P567ORACLE 567 Mon 3 Feb C4 1712:51
4/6
Women and
pensions
Age Concern and the Equal Opportunities
Commission have launched a campaign to
publicise the deficiencies of pension
schemes and to alert the public to the
impact of the government's proposed
pension reform.
They would like to see more women with
occupational pensions but many schemes
still exclude part-time workers ─ a
1982 survey showed that 69% of women
part-timers weren't allowed to join the
company scheme. Even where access is
equal, company schemes are not required
to give women equal benefits ─ pensions
are paid to the widow of scheme members
for example, but not to widowers.
more follows >
Your Money ...560 Holidays ...580
P567ORACLE 567 Mon 3 Feb C4 1712:24
5/6
Women and
pensions
Age Concern and the EOC want any change
to increase ─ not reduce ─ women's
opportunity to earn their own pensions.
Pension schemes should take account of
women's needs. For example, either
state credits should be made to the
pension funds of those with domestic
committments, or the basic state
pension, which already gives credit for
years spent at home, should be raised
substantially.
Women over 60 who want to go on working
to 65, earning a better pension, should
not be dismissed just because they've
reached state retirement age.
more follows >
Your Money ...560 Holidays ...580
P567ORACLE 567 Mon 3 Feb C4 1708:00
6/6
Women and
pensions
If you want to make sure politicians
and policymakers know about women's
needs in retirement you can write off
for Age Concern's Women and Pensions
leaflet. Send a SAE to the Information
and Policy Department, Age Concern,
60 Pitcairn Road, Mitcham, Surrey.
You can also write to your local M.P.
to the All Party Parlimentary Group fgr
Pensioners, care of Ruth Bush, Parlia-
mentary Assistant, House of Commons,
London SW1A 1AA. Or write to the
Secretary of State for Social Services,
at the DHSS, Alexander Fleming House,
Elephant & Castle, London SE1 6BY.
more follows >
Your Money ...560 Holidays ...580