Pension age increase 'to hit women hardest'

The increase to the state pension age could be particularly hard on women in their mid-fifties, according to one expert, suggesting that they may struggle to pay for home care or find a care home in later life.

Sarah Pennells, editor of Savvywoman.co.uk, said that many women in the age category spend their lives working part time while bringing up a family, indicating that they have not been able to build up savings for retirement in the same way as their male counterparts.

She warned that around half a million women born in the mid-1950s would be particularly affected by the impending rise to the pension age to 66, if it goes ahead.

"There is a lot of research that shows [some] women rely heavily on the state pension so having to wait for it for another two years may well cause real hardship," she explained.

This comes after the government announced it may increase the pension age to 66 for both men and women by the year 2015.

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