Saga plans mass lobby against pension age hike

Chancellor George Osborne announced in October the SPA would rise to 66 by 2020. This means around 4.5 million people will have to work up to a year longer than previously planned. Some women may have to work for an extra two years or draw on other savings to provide an income, as their state pension age is rising at a faster rate. The DWP report A Sustainable State Pension shows most people affected by the changes stand to lose around 5% of the total lifetime state pension income, but says the impact will be lessened for those with private pension savings. However, Altmann says Sa...