MPs revolt against women's pension age rise

Ministers are considering a revolt against what Liberal Democrats have termed "deeply unfair" increases in the state pension age for women.

Senior Lib Dems are understood to want to reverse the plans, which will force as many as 500,000 women in their 50s to work up to two years longer than expected, the Daily Mail reports.

Under the new legislation, women's pension age will rise to 65 by 2016 and 66 over the following four years.

By contrast, men will see their current retirement age of 65 rise only from 2018, so both men and women get their pensions at 66 by 2020.

MPs are understood to be considering a delay in state pension increases until 2020, with the rise to 66 accelerated to April 2021 and to 67 by April 2025.

Ten years’ notice would then be given of a one-year change in the pension age and 14 years’ notice of a two-year change.

Accelerating the increases after 2020 would cover the costs of giving more notice. Fourteen Lib Dem MPs, including former leader Charles Kennedy, have signed a Commons motion calling for the plans to be torn up.

Critics say women aged 56 and 57 will be forced to bear a particularly unfair burden in the bid to make necessary savings in the pensions system if the current changes to the pension age continue.

Some 40% of women in the age bracket worst affected have no private pension to fall back on.

But the Treasury is likely to fiercely resist attempts to unpick the state pension age changes, which will save the taxpayer billions.

The government’s own research shows the pension age rises will affect around 5.1 million, mostly women.