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State Pension age set to rise for women

Controversial plans to increase the age of state pension entitlement for women will be raised in parliament today, the BBC reports.

If the Pensions Bill is implemented, it would raise the state pension age from 60 to 65 by 2018.

Ministers from all parties believe the new measures could be unfair on women who are close to the retirement age, but would be forced to carry on working under the new legislation.

Many MP’s feel the plans could adversely affect women financially, and might also leave them with no time to plan their retirement.

The Pensions Bill also suggests raising the state pension entitlement for everyone to 66 by 2020, although according to the BBC, these details have yet to be finalised.

However, the report also shows that no increase could unfairly burden the next generation, and could cost the taxpayer £10 billion.

This was posted in Bdaily's Members' News section by Ruth Mitchell .