Today (01.08.17) the WASPI Campaign has welcomed the Institute for Fiscal Studies report on the female State Pension Age, household incomes and Government finances.
The IFS’ principal finding that increases to the female State Pension Age has already boosted the Government’s finances by £5.1bn per year, is particularly shocking when the fall in household incomes caused by the reform have pushed income poverty among 60 to 62-year-old women up sharply.
Commenting on the report, WASPI Director, Jane Cowley said:
Once again, this shows that the Government has implemented State Pension Age reforms without adequately considering the full impact of these changes on the women affected.
Whether it is the 3.5 million WASPI women who were not given sufficient warning of rises to their State Pension Age, or the sharp rise in income poverty among 60 to 62-year-old women, the Government needs to sit up and start realising that its changes have devastating consequences on the women affected.
Yet again, it is women who are paying the price for the Government’s pension reforms. This simply isn’t good enough when the UK already has one of the biggest pension pay gaps in Europe.