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Govt proposes pension boost for women
24 October 2008 15:56
Women could be the benefactors of the government's latest plans for changes to the basic state pension.
The Department for Work and Pensions today proposed to parliament amendments to the Pensions Bill which would allow individuals to purchase up to six years of national insurance contributions.
According to the government, the changes would be of most benefit to women who have incomplete national insurance records, as it would allow them to top-up their state pension.
Secretary of state for the department, James Purnell, commented that the government had reduced pensioner poverty by 1.9 million since 1997 and that Labour's radical reforms of the state pension had made it fairer and available to more people.
He added that by 2010, about three quarters of women reaching state pension age would be entitled to the basic state pension, with this figure rising to over 90 per cent by 2025.
Earlier this week, Virgin Money claimed that parents should start a Pension fund for their children the moment they are born.
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