State PensionSep 26 2017

Labour's pension plans unpicked

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Labour's pension plans unpicked
ByAamina Zafar

Frank Field MP, chairman of the work and pensions select committee, said: “This change in Labour’s position is a real breakthrough. It offers the prospect of delivering something tangible for the women of WASPI, who have been strung along for too long.

“The work and pensions committee first recommended this as a practical, possible way forward 18 months ago. It is now in pole position to bring the House together on a cross-party basis to find consensus on a way forward.”

But Tom Selby, senior analyst at AJ Bell, said Ms Abrahams’ comments felt more like Labour playing to the pensions gallery than a serious long-term reform plan.

He said: “Indeed, many of the women affected by state pension age equalisation will already be in there sixties, so even if Jeremy Corbyn were to get the keys to Number Ten the extent to which those most affected will benefit is shrinking all the time.

“If the Conservatives cling to power for the next few years and remain steadfast in rejecting calls to help these women then for many this will be too little, too late.”