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A million women could lose company pensions

By Alice Jones on Wednesday 8 February 2012

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Women’s rights to a company pension could be under threat after government announcements suggest they could be making last minute changes to the new rules.

Under new proposals, which are to be introduced in October, up to a million women may lose out on receiving a company pension for the first time.

The report by the Trades Union Congress warned of the affects such changes would have on a vast majority of women who can only work part-time hours.

‘It would be disastrous if the pension changes had the unintended consequence of excluding a significant proportion of women workers from pension saving,’ says Brendan Barber, general secretary of the TUC.

‘Any move to increase the threshold would be an attack on women, many of whom take part-time, low-paid jobs to care for young children or their elderly parents.’

Changes to the new rules could mean that an estimated one million women who are earning £7,475 to £10,000 would lose all chances of receiving a company pension when they retire.

Bosses will also have to sign any workers over the age of 22 who earn £7,475 or more into a company pension scheme.

How would you be affected if these changes went ahead? Marie Claire wants to hear from you by posting a comment below.

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