A grandmother dealing with the consequence of an age hike in pension entitlement has made her feelings clear regarding the proposed compensation, stating it scarcely fills the financial void caused by the changes. Barbara Fulton, age 65, from Paisley, had originally envisioned her state pension kicking in during August 2018. Unfortunately, she now has to wait until later in the year.
Calculations suggest that the pension delay will have cost this grandmother of four a whopping £54,500 over a period of six years.
During this tough period, Fulton found no option but to extend her professional life beyond 60 – the age she had targeted for retirement. She had formerly worked as a facility officer for the East Renfrewshire Council in Glasgow.
Fulton claimed the compensation she had been offered, roughly £3,000, was “#completely shocking.” According to her, it’s hard to understand how the authorities arrived at such an amount.
“The losses people are absorbing, often more than £ 50,000, will barely notice a few thousand pounds. Plus, the process to even receive anything could take a distressingly long time,” remarks Fulton.
Despite the evident disappointment, she remains determined: “We need to keep fighting,” she urges. Fulton confesses to having little hope for any significant compensation coming from the Conservative Party in the run-up to the forthcoming general election.
She voiced her skepticism regarding the current governing body: “My faith in the present government is nonexistent. I doubt we will see any real restitution if they remain in power.”
Her optimism rises with the thought of other potential election outcomes, though. “If the general election results put the Labour Party in power, I believe they may consider our plight and offer something more substantial,” Fulton notes optimistically.
Despite the tribulations, Fulton expresses some relief brought about by recent developments. However, she regrets that it’s taken so long to reach this stage. Accusing the government of essentially pilfering money from pensioners, she states: “For me, we’re talking about an amount just over £54,500. This is considering the funds I should have received beginning from when I was 60 up until 66, which is when I am scheduled to start receiving payments.”
“This represents an enormous chunk of money I injected into the system throughout my years of employment,” Fulton adds. She concludes on a note of regret, wishing that her initial retirement plan could have been kept intact. “I aimed to retire at 60. But that prospect was unfairly snatched away, with no consultation or warning.”
