State Pension
STATE PENSION AGE EQUALISATION TO GO AHEAD AS PLANNED
22 June 2011 In the second reading of the Pension Bill the Secretary of State for Work and Pensions, insisted that the current timetable would not be amended. Women will retire at 65 from 2018 and at 66 from 2020 – two years earlier than previously planned. However, Iain Duncan Smith conceded that he may be prepared to consider "transitional arrangements" designed to help those worst affected. If there is no change to the proposed timetable, this is likely to mean higher welfare payments being offered to those women who are out of work but unable to claim their state pension because of their age. Read the full press release from The Telegraph DWP CONSULTATION REVEALS BROAD SUPPORT FOR SINGLE TIER STATE PENSION 3 August 2011 A summary of consultation responses reveals broad support for state pension reforms that could significantly reduce the need for pensioners to apply for pension credit. The consultation ‘A State Pension for the 21st century’ proposed two options for reforming the state pension for future pensioners. Over three-quarters of organisations who responded favoured the single tier option in principle. This option would raise the state pension to around £140 - above the level of the current means testing threshold and would significantly reduce the need for low income pensioners to apply for pension credit. Read the full press release from the Department for Work and Pensions 17 October 2011 Women who would have seen a two year increase to their state pension age will have their wait reduced to 18 months Welfare Secretary Iain Duncan Smith has announced . The Pensions Bill currently going through Parliament will be amended from the current timetable to cap the increase at a maximum of 18 months. Iain Duncan Smith said: "We have listened to the concerns of those women most affected by the proposed rise in state pension age to 66 and so we will cap the increase to a maximum of 18 months. We have always made clear that we would manage any change fairly and ensure any transition is as smooth as possible." Minister for Pensions Steve Webb said: NO WOMEN WILL FACE TWO YEAR INCREASE IN STATE PENSION AGE
CIPP Policy News Journal
09/10/2012, Page 185 of 234
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