The idea was to make things more equal, but as a result there are now 20,000 more women unemployed and a massive increase in people claiming universal credit on top of that
There are now 20,052 more unemployed women aged 60-64 than there were in 2010, following a change to retirement rules. That represents an increase of a staggering 128%. It follows a law to equalise retirement ages for men and women that passed in 1995, which started to take effect in 2010.
These planned increases were then accelerated after the 2011 Pensions Act came into force. It meant that, on Tuesday, November 6, 2018, the state pension age for women and men was finally equal at 65. As a result, tens of thousands more are claiming unemployment benefit, rather than a pesnion.
Stuart Lewis, founder of over-50s digital community Rest Less, said: “The rapid increase in the Women’s State Pension Age has forced many women to have to go out and look for work in their 60s.”
Analysis of the Office for National Statistics figures from Rest Less shows the number of women between 60 and 64 in work rose 345,000 between 2010 and 2019.
Over the same period the number of unemployed women aged 60-64 rose from 15,701 to 35,753.
Separate analysis found Universal Credit claims amongst women over the age of 50 have nearly doubled in just two months to 241,000 – an increase of 118,000, or 95%. However, the changes haven’t stopped yet. From October, the state pension age will rise again – for both men and women – to 66 and it couldn’t have come at a worse time.
“In the last recession, women could retire at 60 – today it’s 66,” Lewis said. “This is of particular concern in the post-pandemic climate with mass redundancies looming and age discrimination rife. Pre-pandemic, workers over 50 were less likely to receive workplace training and were more likely to be in long term unemployment than their younger counterparts.”
“For women in particular, we know that the gender pay gap is at its widest for those over 50, which flows through to a significant gender gap in pension savings. With widespread job losses, this paints a bleak picture of the financial security of many women in their 60s.”
SOURCE
Mirror
