Pension calculator – find out when you can retire and if you are affected by changes | Personal Finance | Finance [Video]

Drastic changes to the retirement age have left many confused about just when people – particularly women – can expect to give up work.

This has been most evident in relation to the WASPI women who expected to retire at 60 but were then told they would have to wait until 65 or even older.

The Parliamentary and Health Service Ombudsman has ruled that there was a failure to properly notify the women involved and indicated they deserve compensation of between £1,000 and £2,950.

The government has apologised, however this has proved cold comfort to the more than 3 million women who may well have lost £40,000 and potentially more in terms of State Pension payments.

The initial decision to equalise the state pension age for men and women at 65 was made by former Conservative Chancellor, Kenneth Clarke, in 1995. It was then phased in between 2010 and November 2018.

Subsequently, the Conservative Chancellor, George Osborne, brought forward the increase in the state pension…