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Proceeding contribution from Gregg McClymont (Labour) in the House of Commons on Tuesday, 18 October 2011. It occurred during Debate on bill on Pensions Bill [Lords] (Programme) (No. 2).


Pensions Bill [Lords] (Programme) (No. 2)

My hon. Friend makes a very good point. The Government are very good at finding money when they want to, yet, on issues that affect a significant number of women—half a million—and given the anxiety and financial cost involved, they just seem unmoved. Let us reflect a little on the kind of women we are talking about. According to the Library, the median total private pension of a fit 56-year-old woman is £9,100. That is not £9,100 a year; that is £9,100 in total. The same figure for a man is closer to £53,000—and not only that: these women are more reliant than men on the state pension. Often, it is a woman's only source of pension income, and 40% of such women have no private pension savings at all—[Interruption.] No one suggests that that is the Government's fault, and that is a pretty simplistic suggestion from a sedentary position by the Minister, the hon. Member for Basingstoke (Maria Miller), but the fact is that 40% of these women whom the Government are going to make wait between one year and 18 months have no private pension. The state pension is all they have.


Secondary information

Type
Proceeding contribution
Reference
533 c787-8 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Age Contributions Advisory services Women Finance Fees and charges Employees' contributions Financial services Index linking Workplace pensions Pensions State retirement pensions
Legislation
Pensions Bill (HL) 2010-12
Link
View this Proceeding contribution on www.publications.parliament.uk