The Government have been called to correct the pension entitlement “injustice” faced by women who were affected by a change in regulation.
The Liberal Democrats have stated that the Women Against State Pension Inequality Campaign should each be given £15,000, stating that there is an urgent need for the problems suffered by those affected to be addressed.
In the enactment of the Pensions Act 1995, the state pension age for women was set to increase from 60 to 65, with the transition period of a decade ending in 2020.
As a result of the change, many women are due to miss out on years of pension entitlements, something which Stephen Lloyd of the Liberal Democrat party has appealed to be addressed.
Urging the Department of Work and Pensions to take action, he stated: “This injustice must be urgently addressed. The most practical way of doing so would be for the Department for Work and Pensions to make a sizeable transition payment to each of the affected women to the tune of £15,000 payable immediately, tax free.
“It won’t make up for all the loss but I believe it will be seen as a genuine attempt by the Government to make amends for the shambolic roll-out of the increase in women’s pension age way back from the very beginning, in the mid 1990s.”
