It is not possible to assess the financial impact at an individual level as it is highly dependent on a variety of characteristics. The financial impact on a small number of hypothetical cases was modelled for the 2011 Pensions Act Impact Assessment:
The gender impact assessment in annex A shows that, while some aspects of the Pensions Act 2011 provisions will impact women more strongly than men, the impact is not disproportionate and is a consequence of closing the gender gap in State Pension age earlier than under the previous legislation.
Our analysis also shows that the average woman reaching State Pension age last year (2015) gets a higher state pension income over her lifetime than an average woman who reached State Pension age at any point before her – despite the equalisation of State Pension age. Also, over a lifetime, the average woman who reached State Pension age last year will receive more than the average man. This is consistent with the trend going forward.
Further information on the impacts of the new State Pension can be found at: