Poverty Rates Climb with Tory Pension Age Increase 


Categories: Inequality, Pensions, UK Government (Westminster)

Pensioners Can Expect a Fair Deal in Independent Scotland

Stirling MP Alyn Smith has condemned the UK Government for increasing the state pension age from 65 to 66, as a new report lays bare the policy’s true cost on pensioners.

Research from the Institute for Fiscal Studies released this week revealed large increases in income poverty rates among 65 year olds, with the Tory reform leading to around 24% being left in income poverty – 14 points higher than estimated had the pension age remained 65.

Mr Smith fears the findings may be the tip of the iceberg, as the cost of living crisis continues to bite and price inflation erodes the purchasing power of households. The SNP are calling for the money saved from the policy to be used to offer financial support for pensioners and other communities struggling in the current economic climate.

Stirling MP Alyn Smith said:

‘Increasingly it’s clear that poverty and rampant inequality are clear political choices made time and time again by this Tory UK Government. Their austerity agenda for the past decade has decimated communities across these islands and Scotland – and pensioners are no exception. These figures are concerning to say the least, to say nothing of the wider implications for poverty rates as we continue deeper into the cost of living crisis. 

‘A reported £4.9 billion has been ‘saved’ from these reforms – and pensioners face a further £500 a year cut with the removal of the triple lock. They’ve been consistently let down by the UK Government, with some of the lowest state pensions compared with our neighbours.

‘Westminster’s actions speak volumes: scrapping free tv licences for the over 75s, scrapping the pension triple lock, refusing to grant justice to the WASPI women, and the pension credit cut. The only way to protect Scotland’s pensioners and ensure they get a fair deal and dignity in old age is with independence’ 


How did increasing the state pension age from 65 to 66 affect household incomes?