Equal opportunities chief downbeat over pension reforms as women will still lose out

Women will lose out in the government’s proposed pension reforms, according to the chairman of the Equal Opportunities Commission.

Jenny Watson this week said woman would struggle to save enough money for a comfortable state pension because of the periods they spend out of work.

Women are 17 times more likely than men to be out of work due to family commitments, according to the commission.

Watson wants the government to amend its proposed ‘personal accounts’ system to allow workers to make lump-sum payments to boost their pensions.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Name

This field is for validation purposes and should be left unchanged.

Δ

“Women are being short-changed because the current savings system is not built around real-life working patterns,” she said.

“The government’s proposals for personal accounts are a great step in the right direction but they need to be flexible enough to enable women and men to build up sufficient savings even if they take time out of work.”