On 14 January 2013 the Government published a White Paper setting out proposals for State Pension reform for people reaching State Pension age in the future.
But what does the proposed new single-tier State Pension really mean and how will if affect future pensioners?
The main changes announced in the White Paper are as follows:
- A single-tier, flat-rate State Pension. This will replace the basic and additional pensions for people reaching State Pension age in the future – 2017 at the earliest.
- An increase in State Pension age from 66 to 67 between April 2026 and April 2028 and provision for 5 yearly reviews of State Pension age.
All you need to know with Age UK
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