Throughout the year we will be sharing information on our campaign focus areas. Those topics we feel strongly about and are fighting for on behalf of our members.
This month we are discussing tackling the gender pension gap
Women typically retire with 35% less pension wealth than men (Pension Policy Institute, 2022). This reflects structural inequalities: more time providing unpaid care, higher incidence of part-time work, and lower average earnings. The reality is startling.
On average, women lose about £7,600 a year in pension income compared to men. To prevent future generations from suffering the same fate, we must tackle the root causes: closing gender pay and employment gaps through better childcare and social care provision, stronger parental leave rights, and more flexible working.
Our occupational pensions system must also be reformed so that low paid workers are not excluded – for example, by phasing out the £10,000 auto-enrolment earnings threshold.
Finally, the pension system must value unpaid caring work, ensuring carers are credited appropriately and not penalised in later life for time spent out of paid employment.
We propose:
Immediate relief for retired women. Expand National Insurance credits for time spent out of the workforce and caring. A targeted Pension Credit supplement for low-income women. Mandatory gender pension gap reporting (mirroring gender pay gap reporting) and automatic enrolment from the first pound of earnings, benefiting low-paid part-time workers (75% of whom are women)
To defer further SPA rises until inequalities in life expectancy narrow and a new settlement is agreed.
Later Life Ambitions
Later Life Ambitions brings together the collective voices of over a quarter of a million pensioners through the National Federation of Occupational Pensioners, the Civil Service Pensioners’ Alliance, and the National Association of Retired Police Officers Association.
We aim to encourage today’s decision makers to confront the challenges of tomorrow.
What we're calling for:
This Budget presents our plan for a fairer, more sustainable deal for older people. we urge you to stand with us and add your voice to our calls for a fair deal for living well in later life.
ater Life Ambitions brings together the collective voices of over a quarter of a million pensioners through the National Federation of Occupational Pensioners, the Civil Service Pensioners’ Alliance, and the National Association of Retired Police Officers Association.
We aim to encourage today’s decision makers to confront the challenges of tomorrow.
- Protecting the State Pension
- Reducing the tax on pensions
- Tackling the gender pension gap
- Supporting older people in the workplace
- A minimum income guarantee
- Widening access to public transport
- Making housing safe, secure, accessible and adaptable
- Supporting health and social care
