“The High Court’s decision to dismiss claims made by campaign groups that the state pension age rise was discriminatory will be a blow to women born in the 1950s. It had been claimed that if the equalisation of state pension ages between men and women were to be reversed it could cost the government in excess of £180bn, so from their perspective they will be very relieved, particularly given current concerns about state pension funding as it is.
“The review made note that the government acted in a lawful way, so it is inevitable that this decision will result in more political pressure placed upon the government to implement a change. Before coming to power, the Prime Minister did indicate it was an issue he was keen to sort out. As such, with a general election around the corner, and the issue not going away anytime soon, this could become a key battleground to attract votes from a disaffected demographic.
“For those not affected by this case and approaching retirement, however, it should serve as a wakeup call to ensure they have their own financial affairs in place. People cannot rely solely on the state pension, and with constant tinkering around retirement ages, tax allowances and the such, it is clear professional financial advice plays a key role in ensuring people are up to speed and aware of any legislative changes that will affect their retirement.”