Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

HARMAN AIMS TO NARROW PENSIONS GAP BETWEEN MEN AND WOMEN

  • Comment
Narrowing the pensions gap between men and women, and giving women ...
Narrowing the pensions gap between men and women, and giving women

more security in retirement are key elements of pensions reform,

Harriet Harman, secretary of state for social security and minister

for women said.

Speaking at the International Women's Forum in London, Ms Harman

said:

'Women pensioners are more likely to be poor. Seventy per cent of

pensioners on income support are women.

'Fewer women than men have an adequate second pension. Women's

average incomes from occupational pensions are around£30 a week,

compared with around£50 a week for men.'

Ms Harman cited part-time working, caring and domestic

responsibilities and more interruptions to paid work as reasons why

women are worse off as pensioners.

She continued:

'Personal pensions often penalise women who take career breaks.

'Charges for a typical personal pension can absorb up to thirty per

cent of a woman's savings by the time of her retirement.

'I intend to put in place a framework for pension provision which

ensures that the pension position of women will improve.

'I am already examining ways of delivering more automatic help to the

poorest of today's pensioners - 700,000 of whom are women. I will

retain the basic state pension as the foundation of pension provision

uprating it in line with prices.

'For the future I am committed to:

- creating a new framework of stakeholder pensions for those who cannot join an employer's occupational scheme because of low earnings

- introducing a citizenship pension for carers who are unable to contribute to a second pension because of their caring responsibilities

- working in partnership with the pensions industry, family lawyers and others to deliver pension sharing arrangements by April 2000, to give women access to a second pension on divorce

'We have given a clear commitment to pensioners - to support those

who need it most and lay the foundations for security in retirement

for all.'

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.