Those particularly disadvantaged by the changes are women born in 1953 and 1954, who have seen their state pension age rise by up to 18 months.
The state pension age for women was due to rise from 60 to 65 between 2010 and 2020 but the Government decided to speed up the process in 2011. As a result the state pension age for women is due to go up to 65 in November 2018 and then to 66 by October 2020.
Critics of the accelerated equalisation believe it is unfair on women who were born in the 1950s.
If you fall into this category, you will need to rethink your retirement plans at relatively short notice and we would advise that you talk to us at Johnson Gibbs. We can review your current pension planning and advise you as to the potential shortfall, if it exists and devise a plan to eliminate the gap.
The debate was triggered after an online petition for fair transitional arrangements secured over 100,000 signatures: https://petition.parliament.uk/petitions/110776