Pension plans white paper delayed
Jul 13 2012
The Government has delayed publishing its plans for a single flat-rate state pension.
Details of the scheme, along with proposals for a system to link increases in the pension age to life expectancy, will now be announced in the autumn. The white paper had been due in the spring, but pensions minister Steve Webb said the Government was "still working on the details, to ensure we get them right".
And officials insisted that despite the delay the Government still planned to legislate in the current parliamentary session which runs until May, with the reforms due to be introduced after 2015.
Mr Webb told MPs: "Together, these reforms will deliver a state pension system that is fit for the 21st century. Given the scale, complexity and importance of these two significant reforms we are still working on the details, to ensure we get them right.
"Therefore, we will set out further detail on both the single tier reform and state pension age review mechanism in a white paper in the autumn."
A Department of Work and Pensions spokeswoman said: "Years of tweaks and piecemeal reform have left our state pension as one of the most complicated in Europe. We are absolutely committed to bringing in landmark reforms that will bring much needed clarity and simplicity to the pension system."
Joanne Segars, chief executive of the National Association of Pension Funds, said: "It is good to see a clear direction of travel and confirmation that these important reforms will go ahead. But the time for talking should be over by now. We need to see these reforms become reality.
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