Widow forced to live off inheritance and ‘small’ pension after state pension age change | Personal Finance | Finance
The state pension age for women used to be 60, while it was traditionally 65 for men. However, due to age equalisation between the sexes, both became 65, then rising to 66.
The change impacted an estimated three million women, who have been required to wait longer for their state pension.
Many argued they were not provided with ample notice surrounding these changes, and have been impacted financially and socially as a result.
Express.co.uk spoke exclusively to Sharon Rodgers, a 64-year-old woman from Nottinghamshire, who has been affected by the state pension age changes.
She explained: “I started work at the age of 16, and ever since then, apart from taking time off to look after my daughter, I’ve worked – right up until the age of 60.”
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Mrs Rodgers explained how she feels “women have been disadvantaged all their lives”, with the state pension age change, she argues, just one example of this.
She stated: “Thankfully, things have changed, but we never used to have good equality laws, and in the majority we stayed at home to raise our children, and then perhaps went back to work.
“I worked for a company when I was younger where we weren’t able to be in a company pension until the age of 21. So from 16 to 21, I couldn’t make contributions or get anything in return.
“Then, of course, when you work part-time to juggle your family, you don’t get the contributions for full-time work.
“Because women decide to have a family, they start to be disadvantaged from the beginning – and it doesn’t change.”
Mrs Rodgers said she is now getting by on her small company pension, as well as an inheritance left by her late father.
However, with the rising cost of living, she is worried about how quickly this money will deplete.
She remarked: “We’ve got energy bills, food costs, all of these things to deal with but the support of the state pension isn’t there, even though we thought it would be.
“I know I’m luckier than most, due to the fact I have an inheritance, but that money is going to run out quickly.”
Now, the 64-year-old is looking forward to the future, namely in 2024, when she will be able to claim the state pension for the first time after a six-year wait.
However, she is still plagued by worries about what could happen in the meantime.
Mrs Rodgers added: “A very good friend of mine passed away – she was perfectly fit and healthy – but she died before she could get her state pension because the age was moved.
“What happens to all of these women who die before they get to state pension age? What happens to their decades of contributions?
“I’m not holding out much hope. I don’t know what can be done for us. But we do need help. I know it’s not too much longer for me – I’ve got months to wait until I’ll reach state pension age.
“But you can’t help but wonder, ‘God willing, am I actually going to make it?’.”
A DWP spokesperson previously told Express.co.uk: “The Government decided over 25 years ago that it was going to make the state pension age the same for men and women as a long-overdue move towards gender equality.
“Both the High Court and Court of Appeal have supported the actions of the DWP, under successive governments dating back to 1995, and the Supreme Court refused the claimants permission to appeal.”
