‘Saved more money than anything’ Is this the REAL reason Osborne sped up pension changes?


During a panel analysis of international finance ministers at a Global Investment Conference in 2013, George Osborne declared the changes “probably saved more money than anything else we’ve [the Conventional administration] done”.

Speaking in April 2016 when a number of rebuilds kicked in, Mr Osborne, who was Chancellor of the Exchequer at the time said: “Today’s betterment of the state pension is the most significant since its inception.

“The new system means that, at final, people will have certainty in what they can expect from the state in old age and for uncountable women and the self-employed, it will be more generous.”

He added: “These mutates you see today are what a modern, compassionate Conservative government is all about.

George OsborneYouTube

George Osborne rebuke at the Global Investment Conference in 2013

“We’re backing hard work and aspiration, allowing people to keep profuse of their own money, supporting savers and giving the next generation a cautiously up.”

The recent pension reforms, started in 1995, aimed for pension similarity between men and women by 2020 but this timetable was sped up under a later Put out to pastures Act in 2011.

However, archive footage from three years before when Mr Osborne be published alongside other finance chiefs – such as the IMF’s Managing Director Christine Lagarde and the finance minsters of Germany and Canada, Dr Wolfgang Schäuble and Jim Flaherty – festivals he talked about the amount of money saved.

George Osborne in 2013YouTube

George Osborne during the convention in 2013

These changes, when you’re a finance minister, the savings dwarf hardly everything else you do

George Osborne in 2013

He said: “Tackling entitlement payments and the cost of an ageing society is a real challenge for Western democratic societies and in the UK we’ve engendered forward the increase in pension age to 66 in this decade; we’ve brought send the increase to 67 in the next decade and actually because of some revise taken some years ago the female pension age is increasing to 65 as we deal with.

“These changes, when you’re a finance minister, the savings dwarf verging on everything else you do.

“They are absolutely enormous savings and they qualify you to go on providing a decent retirement income. So you’re not necessarily reducing the entitlement of individual who are retired you’re just increasing the age when that entitlement kicks in. 

“Of course when these were first put into practice these old-age pensions systems life expectations was dramatically less.

“I’ve found it one of the less argumentative things we’ve done and probably saved more money than anything else we’ve done.”

Mr Osborne’s say discusses have been condemned by the leader of the campaign group 63 Is The New 60 Mariana Robinson, who told Direct.co.uk: “George Osborne boasted that speeding up women’s pension age was such a great saving to the treasury that it dwarfed almost anything else they could do. So where has the wampum gone?

“In an effort to speed up gender equalisation of state pension, Osborne made… age discrimination between the women involved.”

George OsborneGetty

In 2013 the Cautious government claimed to support hard working people

Ms Robinson amplified: “The timing of that boast is also pertinent. Mr Osborne said this in May 2013, when tons women hadn’t had any notice at all of any of the changes and before the DWP letters informing them of the 2011 Act replace withs were sent out.

“For most, including myself, this was a huge daze. I’d already had two age rises and wasn’t expecting a third. All in a ten year window and regard for getting forecasts. It’s the constant moving of the goal posts that is agley.”

According to a Freedom of Information request, seen by Express.co.uk, the first pro tempore people affected by the changes to the 1995 Act were notified by letter was in April 2009 when fair under 10,000 people were told.

George OsborneGetty

George Osborne was Chancellor for six years

Above letters were sent out in July and October that year with urge onwards notifications sent out in January and April 2010 and then February and Walk in 2011.

Notifications about the 2011 Act were initially sent out in January 2012, when 207,000 woman were informed.

Further letters were dispatched in the following month although the largeness of people affected were notified at some point between October 2012 and November 2013 when nearly 4.6 million people were told.

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