Saga chief criticises pensions calculator proposal

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Saga chief criticises pensions calculator proposal

Wed 22nd Jun 2011

Government proposals to alter the state pension age have been criticised by the head of Saga, who suggested it is in keeping with the coalition's complicated handling of retirement funding.

Dr Ros Altmann explained that a debate on the second reading of the Pensions Bill has meant changes to the legislation must be made.

In her opinion, the government needs to make its plans clear, as there are over half a million women who do not know whether they will receive a pension at 64 or 66 years old.

"This proposal would be a much more complicated way of addressing the problems caused by the Pensions Bill's proposed timetable, but then isn't that always how government runs pensions policy?" asked Dr Altmann.

She called for a compromise that alleviates the worst financial hardship while retaining the crux of the legislative changes.

Last week, the Saga chief claimed that it would be much fairer if the current equalisation timetable to 2020 was kept and the pension age moved up to 66 in 2021.

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