At present, around four out of every ten women get the full pension when they reach pensionable age. This will increase significantly to over seven out of ten women.
Speaking after the Second Stage of the Bill, Social Development Minister, Margaret Ritchie, said:
“For too long women and carers have been short changed by the pensions system. It is clear that women in particular have suffered due to the broken work patterns associated with their caring responsibilities.
“I am determined to be a champion for pensioners to ensure that they obtain the money to which they are entitled. I am also determined that women and carers get a better deal. This Bill not only ensures that they will get that fairer deal, but also recognises their vitally important contribution to society.”
The number of qualifying years needed for a full state pension will be cut to 30 for both men and women from 2010. For women this represents a cut of almost a quarter in the number of years needed for a full pension. The Bill also introduces new national insurance credits for parents and carers.
The Minister said: “As a result of the changes we are bringing forward, we expect around 75% of women reaching pension age in 2010 to have a full pension compared to around 40% currently.
“We are also providing for State Pension to be uprated in line with earnings rather than in line with prices as at the moment. This will help to ensure that pensioners will share in future prosperity in the same way as people in work.”
The Bill contains a number of other provisions, for example, to simplify the State Second Pension and measures dealing with private pensions. The Bill provides for state pension age to increase in stages between 2024 and 2046.
Notes to Editors:
- The Pensions Bill can be accessed on the NI Asembly website
. - Media enquiries to the Department for Social Development Press Office on 028 9082 9496. Out of office hours please Contact the Duty Press Officer via pager number 07699 715440 and your call will be returned.
