Rise in pension age to affect women in their 50s the most

Pension age increase will hit women the hardest. The biggest losers from the rise in pension age will be women. The rise in pension age outlined in this week's Spending Review will affect women the most, according to pension specialists. Under the new legislation the state pension age will rise to 66 by April 2020 - a faster and further change than the previous government had planned. Rash Bhabra, head of corporate consulting at financial management firm Towers Watson, said: “The biggest losers are some of the women born around 1954. A woman born on 5 April 1953 will still be able to claim her state pension when she is just 62 years, 11 months and one day old. A woman born a year and a day later will have to wait until she is 66. The extra three years of missed state pension income could be worth more than £15,000".