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Author: Great Britain: Department for Work and Pensions Publisher: The Stationery Office ISBN: 9780101852821 Category : Business & Economics Languages : en Pages : 110
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.
Author: Great Britain: Department for Work and Pensions Publisher: The Stationery Office ISBN: 9780101852821 Category : Business & Economics Languages : en Pages : 110
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.
Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee Publisher: The Stationery Office ISBN: 9780215055552 Category : Social Science Languages : en Pages : 168
Book Description
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 implementation lies in the Government informing the public as soon as possible about how it will affect individuals. The Committee criticises the Government for hampering its scrutiny of the proposals. The Government not only imposed an extremely tight timetable, but brought forward the implementation date by a year, after the Committee had completed taking evidence. The Committee says that the Government must work with them to ensure the transition is as smooth as possible and that Defined Benefit pension schemes do not suffer as a result. The Government should also develop and publish a clear explanation of how means-tested support, including passported benefits, will operate under the Single-tier Pension, and the transitional protection that will be put in place. Many women born between 1952 and 1953 believed that they would suffer a double adverse effect on their State Pension income, arising from the increases in their State Pension Age combined with their ineligibility for the Single-tier Pension, if it was introduced in 2017 as set out in the White Paper. The Government should clarify the position. Some women did not build up their own NI record because they had an expectation that they would be able to rely on their husband's contributions to give them entitlement to a Basic State Pension. The Government should assess and publish the cost of allowing women in this position who are within 15 years of State Pension Age to retain this right
Author: Great Britain: Department for Work and Pensions Publisher: The Stationery Office ISBN: 9780101805322 Category : Social Science Languages : en Pages : 60
Book Description
In this document the Government is looking at options for delivering a simpler and fairer state pension which rewards those who save for their retirement and is sustainable for future generations. The consultation is on two broad options for reform of the state pension, and the most appropriate mechanism for determining future changes to state pension age. The four guiding principles for pension reform are: personal responsibility; fairness; simplicity; affordability and sustainability. The options for reform of the state pension are: (1) faster flat rate or (2) a single tier pension. Currently the basic state pension is a flat-rate payment of £97.65 a week and the state second pension is partly flat rate and partly linked to earnings, such that higher earners receive a higher state pension. Option 1 would accelerate reforms so that the state second pension becomes fully flat rate by 2020 instead of the early 2030s. At the end of the transition those with a full contribution record - about 30 years - would receive the full pension, in two tiers, currently estimated at about £140 a week. Option 2 is a more radical approach, combining the two existing pensions into one single-tier pension. Future pensioners with at least 30 qualifying years would receive the same flat-rate pension currently estimated at £140 a week. This payment would be set above the basic level of support provided by Pension Credit. There are also two options for changing state pension age: through a formula linked to life expectancy; through a regular review.
Author: The Chartered Society of Physiotherapy Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Recent changes to the state pensions will affect all CSP members. This briefing is designed to highlight the key changes. Summary - The Government announced in January proposals to change the State Pension Scheme which, if agreed by Parliament, will merge the basic state pension and additional state pension (formerly SERPS now S2P). - This would see the introduction of a single tier state pension (STSP) of at least £144/week at current rates by April 2017 at the earliest. - The current arrangement whereby employees can contract out of the second state pension will be abolished, and employees and employers will have to pay the full National Insurance rates - an additional 1.4% for employees and 3.4% for employers. - The STSP will be capped at 35 qualifying years, although workers would continue to pay NI contributions until they reach State Pension Age (SPA), regardless of whether this exceeds the 35 year cap. Included in the proposals is an automatic review of State Pension Age ev ...
Author: Great Britain: Department for Work and Pensions Publisher: The Stationery Office ISBN: 9780101813129 Category : Political Science Languages : en Pages : 56
Book Description
The consultation documents published as Cm. 8053 (ISBN 9780101813129)
Author: OECD Publisher: OECD Publishing ISBN: 9264876103 Category : Languages : en Pages : 224
Book Description
The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Author: Great Britain: Parliament: House of Commons: Treasury Committee Publisher: The Stationery Office ISBN: 9780215057006 Category : Business & Economics Languages : en Pages : 200
Book Description
The Treasury Committee's report on Budget 2013 focuses on: macroeconomy; the public finances; monetary policy; taxation; departmental spending; housing; energy policy; premature disclosure of budget information; Parliamentary timing. The report contains 46 conclusions and recommendations. Particular attention is paid to the Help to Buy housing policy, which is considered a work in progress which may have unintended consequences and may not help first-time buyers. The Committee poses a number of questions for the Chancellor on the policy. Overall, if the Government's priority was housing supply, its housing measures should have concentrated there. On energy it is unclear which Government Department is in the lead for energy policy and this lack of clarity must be addressed. The changes to the monetary policy remit announced by the Chancellor at the time of Budget 2013 create uncertainty. Tax complexity and instability remain of considerable concern. The Committee will monitor whether the Government anti-avoidance measures succeed in generating the revenue predicted of them. In addition, the Committee invited comments from three accounting bodies on how Budget 2013 meets the Committee's tax policy principles: basic fairness; supporting growth and encouraging competition; certainty, including simplicity; stability; practicality; and coherence.
Author: Great Britain: Department for Work and Pensions
Author: Great Britain: Department for Work and Pensions
Author: 
Author: Great Britain: Parliament: House of Commons: Work and Pensions Committee
Author: Great Britain: Department for Work and Pensions
Author: Rowena Crawford
Author: 
Author: The Chartered Society of Physiotherapy
Author: Great Britain: Department for Work and Pensions
Author: OECD
Author: Great Britain: Parliament: House of Commons: Treasury Committee