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<p>Successive Governments have made necessary decisions to equalise and increase the
State Pension age. State Pension age reform has focused on maintaining the right balance
between sustainability of State Pension, equality and fairness between generations
in the face of demographic change.</p><p> </p><p>Even after equalising women’s State
Pension age with men’s, women will spend more than 2 years longer on average in receipt
of their state pension because of their longer life expectancy. If we had not equalised
State Pension age, women would be expected to spend on average over 40 per cent of
their adult lives in retirement.</p><p> </p><p>During the passage of the Pensions
Act 2011, the Government listened to the concerns of those affected and this is why
we introduced a concession worth over £1 billion in order to limit the impact on those
women who would be most affected by the changes. This concession reduced the proposed
increase in State Pension age for over 450,000 men and women, and means that no woman
will see her pension age change by more than 18 months, relative to the 1995 Act timetable.</p><p>
</p><p>For people who simply can’t work, our welfare system will continue to provide
a strong safety net, as it does for people of all ages now. Any women experiencing
hardship, including problems such as unemployment, disability, and coping with caring
responsibilities, can already claim support from the welfare system. The Government
is committed to supporting the vulnerable and spends over £50 billion a year on benefits
to support disabled people and people with health conditions. The new State Pension
is more generous for many women. Over three million women stand to gain an average
of £550 extra per year by 2030 as a result of recent State Pension reforms.</p>
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