According to a new Commons study, people who are currently in their 20s are likely to lose out by over £19,000 on their state pension when they retire, due to the government's reform.
The changes in the Tories' pension is likely to have a much bigger negative impact on younger generations, as it is likely for those in their 40s to be worse by £13,000 during the course of a 30-year retirement, while those in their 30s are likely to be at a loss of £17,000.
In January, the Department for Work and Pensions confirmed that lower state pensions under arrangements will be received by 53% of 43-year-olds, in comparison to the old system, when they reach the state pension age in 2040.
