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Pensions crisis November 8, 2005

Posted by Winter in gender issues, poverty.
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By Naidies  

I knew there was a looming pensions crisis, I knew it was big and I knew that women would be particularly vulnerable to it. But it isn’t directly related to me right? It won’t effect me in the next few years? So I’m ashamed to say I didn’t pay that much attention. However, I’ve just read this article by Jackie Ashley and it has really brought home to me that this is a really serious thing. Take five minutes to read it.

Hundreds of thousands of women in the UK, only a few years older than my mothers could be crippled financhially within the next decade. If my Mother happened to be an older mother, rather than having chosen to give birth while still in her twenties this could be effecting me very personally in the next few years. Hundreds of thousands of daughters and sons are going to see their mothers plunged into a humilalating state of financial distress over the next decade. This should be a national scandal and we are still being treated to the odd and slightly deranged antics of Tony and friends. Really, we should all be feeling a little ashamed.

Thanks to Twisty at I blame the Patriarchy for the heads up.

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Comments»

1. Louise Whittle - November 8, 2005

There is a current crisis in pensions overall. The unions didn’t secure a major victory on the 18th Oct instead they effectively agreed to the Government’s agenda for cutting pension costs by some £13 billion over the next 50 years.

And at present the Local Government Penson Scheme (LGPS) is under threat. Unison’s local government conference opposed increasing to 65 the age of entitlement to unreduced pension and are against the “two-tier scheme”.

This undermines young workers entering the workforce.
Unison workers in Local Government will hopefully be striking shortly over this.

And again who is going to suffer the most on these attacks on pension rights? Women.

I was going to ask Rebecca Gill Women’s Policy Officer, TUC at FEM 05 about this (my hand was in the air for so long and unfortunately, ignored by the chair) and the attitude of the TUC about continuing the fight for decent pension rights for women. I was very surprised she omitted the pension crisis from her speech.

Sorry to go on for so long but I am so damn angry with this Government for attacking and slashing pension rights for current and future public sector workers. How dare they!

Pensioners will be on the poverty line that’s if they are lucky enough to get a state pension or having to opt out into a private pension. People work all their life and what will they get at the end of it? Nothing.

2. TP - November 8, 2005

I accepted some time ago that there will be no state pension for me when I retire. It is the way things seem to be going.

To further compound my disappointment, and to encourage woe, I saw a financial advisor, who told me I would have to amas £1million in savings to keep me in my retirement. And that this £1million would only be worth half of it’s current market value due to inflation.

So that was a fun meeting.

3. Louise Whittle - November 8, 2005

Just also to say that there is a rally defending the Local Government Pension Scheme on 24 November @ the NUT, Mabledon Place, London WC1. from 6.30pm-8.30pm. It has been organised by the public sector trade unions.

There is also an Early Day Motion (EDM) on pensions tabled in the House of Commons and can be viewed at: http://edmi.parliament.uk/EDMi/EDMDetails.aspx?EDMID=29103&SESSION=875

4. Winter - November 10, 2005

It’s very worrying as well as infuriating. My mother is one of the older women who took a lot of time out of work to raise kids. She couldn’t live on the pensions she gets now, so I don’t know what she’d do if anything happened to my Dad.

5. Naiades - November 14, 2005

It’s really frightning isn’t it? it also belies the kind of government attitude of “Raising children, looking after the house, cooking and a whole mountain of volunatary work just isn’t important enough a legacy for us to feel we have to look after you in your old age. You should have had a proper job”


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