Changes in the State Pension Age for Women

There are around 350,000 Scotswomen affected by the transition to equality in men and women’s State Pension Age. The initial Westminster Pension Age Act was in 1995 and it set out a gradual pathway to equalise the pension age for men and women. But in 2011 a second Pension Age Act increased the rate of change for women and increased the overall pension age to above 66. This has created a group of women who are partially badly affected. ¬†Women born in the mid-50s are losing six years of their State Pension.

Figures are from House of Commons Library Briefing Paper: https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-7405

State Pension Age for women will now reach 65 in 2019, one year ahead of the 1995 timeline. It will raised to 66 for everyone during 2020. Then in 2014, Westminster increased rate of change in the State Pension Age for everyone again so that it will be 67 in 2028.

These changes will save the Dept of Work and Pensions a total of £34billion overall by 2026.

All these figures come from the House of Commons Library. You can download their report here: Increases in the State Pension Age for Women

 

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