The Single-tier Pension

Released on by Great Britain: Department for Work and Pensions
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  • The Single-tier Pension Book Detail

  • Author : Great Britain: Department for Work and Pensions
  • Release Date : 2013-01-14
  • Publisher : The Stationery Office
  • Genre : Business & Economics
  • Pages : 110
  • ISBN 13 : 9780101852821
  • File Size : 62,62 MB
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The Single-tier Pension by Great Britain: Department for Work and Pensions PDF Summary

Book Description: This paper outlines the Government's detailed proposition for state pension reform. It follows a consultation on the proposals set out in "A state pension of the 21st century" (2011, Cm. 8053, ISBN 9780101805322). There was consensus that the state pension system needed to be simplified and the aim is to merge the state second pension with the basic state pension, to create one flat-rate payment. The new flat-rate state pension will start in April 2017 at the earliest. The weekly payment will be £144, plus inflation rises between now and 2017. Chapters in this paper cover: the context for reform; the single-tier pension; managing the end of contracting-out; the transition to the single-tier pension; sustainability and assumptions; longer-term sustainability - state pension age. Annexes provide: a brief history of the state pension; faster flat rating - assessment against principles for reform; features of the single-tier pension and specific transitional arrangements; an example pension statement; proposed timetable for implementing the increase in state pension age to 67.

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The Single-tier Pension

The Single-tier Pension

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This paper outlines the Government's detailed proposition for state pension reform. It follows a consultation on the proposals set out in "A state pension of th

The Single-tier State Pension

The Single-tier State Pension

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This report welcomes the improvements in retirement income that the new Single-tier State Pension will bring. However, the key to the policy's successful implem