The state pension denied at 60 from 2013 to women is now found and is being called a surplus in the full and ring fenced National Insurance Fund.
Whether a former Labour deputy prime minister has been misquoted or not in The Daily Mirror, the article stated that this Labour party member believed that the National Insurance Fund could only be used to fund the NHS (which it does but only in small part) and unemployment benefit.
www.mirror.co.uk/news/uk-news/george-osborne-should-use-30bn-4762414
There was no mention of the state pension, that relies on your National Insurance contribution years in work at 12 per cent deductions a year plus your boss's contribution (both compulsory), or on NI credits when on benefit or for child or elder care.
The flat rate pension will vastly reduce the state pension
to women born from 1953 and men born from 1951
after a couple losing 7 years payout,
and then leaves huge numbers of men and women
with NIL STATE PENSION FOR LIFE, by the end of any pension for poorest workers and no housewife, divorcee or widow's pension based on husband's NI contribution / credit history.
https://you.38degrees.org.uk/petitions/state-pension-at-60-now
The full NI Fund proves that the denied state pension payout at 60 to women (and 65 to men) should never have been put under welfare reform and has saved not one penny under austerity.
The full state pension is sitting pretty today in the National Insurance Fund, that has been full for decades not needing a top up from tax, and the government is calling it a surplus, so denying women the state pension payout, which can be received even if manage to remain in work.
Half of the over 50s / over 60s are within the working poor, on wages so low that cannot afford to eat and heat.
The majority reason this age group not in work is due to disability / chronic sickness and those benefits being lost more and more.
By raised retirement age women born from 1953 and men born from 1951 are liable to the million benefit sanctions that have led to a near equal referrals to food banks.
Even someone turning 80 in 2016 will not get the tiny top up to the even tinier part basic state pension. And Pension Credit ends for the new claimants from 2016.
https://you.38degrees.org.uk/petitions/state-pension-at-60-now
Whilst women MPs keep their works pension payout at 60 (and men MPs at 65) and all MPs get, again on the taxpayer, an 11 per cent pay rise that is about the same as the lost state pension payout, that is vital food and fuel money for a great many pensioners denied both state pension and works pension by the raised retirement age.
I signed Anne Keen's petition on 38 Degrees about the lost payout at 60 of women's state pension, but then began by further petition about the total loss of any state pension for life that is coming with the flat rate pension.
https://you.38degrees.org.uk/petitions/state-pension-at-60-now
The more people sign both petitions, the more likely the next government will stop calling the NI Fund in surplus and pay the paid for state pension to us.
