Official numbers from the Department for Work and Pensions suggests that the hastened pension age rise is coming about too quickly, and that it will cost people over 50 around £14,000.
People over the age will be out of pocket as they wont have sufficient time to to save the extra money they would have received from a pension if the age had not increased.
Estimates show that the change enforced by Chancellor George Osborne will affect around 4.5 million people.
Ros Altmann, of the over-50s group Saga and a former Government pensions adviser, also highlighted the effect it will have on women: "These changes are dramatically unfair and completely unacceptable. They penalise at least half a million women making them wait an extra two years for their state pension and even the Government itself admits they will not have time to prepare.”
Altmann added: “I have never known women so angry. This is yet another example of policies made by men who fail to understand women's lives. A rethink is essential. We simply cannot do this to people.”