The good news is that the government have admitted that they did in fact enforce this action a bit too quick without giving enough notice to everyone concerned, but it's not going to change the retirement age. But it has been mentioned that maybe some women can retire earlier on a reduced pension, but nothing concrete yet, so let's hope this gets resolved at last.
Today's debate is due to the hard work of Women Against State Pension Inequality (WASPI) who started a petition which calls on the UK Government to make fair transitional state pension arrangements for women born in the 1950s. The last time I checked the petition had amassed over 135,500 signatures and any petition reaching over 100,000 signatures must be heard by parliament. This time the Government must listen!
Whilst the money side of retirement is obviously very important to people, it's not the be all and end all - yet finances seems to be the focus of ALL the attention. As any retirees will know, and perhaps even more so any of you that are in the lead up to your retirement, there is plenty to worry about besides money.
Why on earth would you want to cash in your entire pension pot at age 55 when all the statistics point to you living well into your 80s? For many people, the answer is that you would be crazy to do so - you should leave the pot alone to let it grow and be thankful you will have a pension to fall back on when you reach 65.
Pensions are still regarded as incredibly complicated, scary and boring. We need to dispel the myth that investing in a pension scheme is hard work. For the woman at the party, the advantages of receiving valuable matching contributions from her employer had not got through. She had lost out on 10 years' free money between the ages of 25 to 35.