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News - 24 June 2011

Equality and the State Pension.





In 1995, the Government decided that the State pension Age for women was due to rise from 60 to 65 between 2010 and 2020. However, the current government plans to move the goalposts and increase the state pension age to 66 for all. Many see this policy as discriminatory, but strangely it is European equality legislation which has necessitated such a rapid increase. (European Union Directive 79/7. this requires EU member states to implement equal treatment between men and women in social security matters.)

So, what does this actually mean? 

Women born between 6 April 1953 and 5 April 1960 will be affected by the proposed changes. These women have relatively little time to make alternative retirement planning of their own. 

Lavinia Newman, Founder of ABDS says:

"An increase to age 66 is possibly just the start; a pension age of 70 in the not too distant future is not unthinkable. I believe that financial planning is therefore a must for those who don't want their retirement to be left entirely at the mercy of the state." 

If you need any help and advice on Inheritance Tax, Capital Gains Tax or Financial Planning, don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial plans. 

ABDS of Southampton, for all of your Tax Planning, Compliance and Tax Returns.

Tel: 023 8083 6900 E-mail:




The then Shadow Chancellor of the Exchequer, Mr. George Osborne in a speech to the Conservative Party Conference in 2009 stated: 

"Our aim will be to bring forward the date when the pension age rises… For men this means the pension age will not start to rise to 66 until at least 2016. For women this means the pension age will not start to rise from 65 to 66 until at least 2020." 

Now, just over a year later, he announces the increase in state pension age as a government policy, with a subtle, but significant, shift - now the policy increases women's state pension age faster, to 65 by 2018. Both men and women's state pension age then rises to 66, in tandem, by 2020.

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