All State pension articles – Page 5
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News‘Transitory’ inflation soars to 10-year high, with more pain to come
Inflation soared to a 10-year high of 5.1 per cent in the year to November 2021, and those who once argued that the inflationary trend would be transitory are now warning that the worst is yet to come.
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NewsGovt to consult again on McCloud implementation in 2022
The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.
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NewsGovt rejects Lords’ attempt to retain state pension triple lock
On the go: The House of Commons has rejected proposed amendments from the House of Lords to retain the earnings element of the state pension triple lock next year.
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NewsNine in 10 unsure of their pension entitlements
On the go: Nine in 10 people are unsure of what pension they are entitled to or whether they are receiving any pension contributions, according to new research from financial services comparison site Money.
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NewsGovt suffers defeat in Lords over triple lock scrap
On the go: The government has suffered a defeat in the House of Lords over its plans to restrict increases in the state pension next year by temporarily suspending the triple lock.
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NewsAltmann calls on peers to block triple lock scrap
On the go: The government’s plan to suspend the triple lock could be blocked in the Lords on Tuesday amid concerns that pensioners will struggle against rising living costs.
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NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.
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NewsState pension to rise by 3.1% in April as inflation dips slightly
On the go: The UK state pension is set to increase by 3.1 per cent in 2022-23, in line with September’s inflation figure.
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News‘Years of human errors’ led to £1bn state pension underpayments
The Department for Work and Pensions has underpaid 134,000 pensioners — 90 per cent of which are understood to be women — by more than £1bn, according to a report from the National Audit Office.
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NewsABI calls for govt to 'rethink' normal minimum pension age hike
The Association of British Insurers has called on the government to scrap its “complicated”, “arbitrary” and “confusing” plans to raise the normal minimum pension age “until something fit for purpose” has been developed.
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NewsTriple lock suspension unpopular but fair, says industry
On the go: By suspending the wages element of the pensions triple lock the government has remained fair to both pensioners and taxpayers, although the former is likely to be disappointed, industry experts have said.
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NewsState pension: Triple lock earnings link suspended for 1 year
On the go: The government has suspended the wages element of the pensions triple lock to avoid a disproportionate rise in the state pension following the pandemic.
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NewsState pension ‘too low’ to scrap earnings link
On the go: With the state pension still below the 1979 level relative to earnings, it would be unwise for the chancellor to drop the triple lock earnings link, Baroness Ros Altmann has warned.
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NewsOmbudsman criticises Aon, Willis Towers Watson over benefits error
The Pensions Ombudsman, Anthony Arter, has partially upheld a complaint against Aon and Willis Towers Watson over their handling of a benefits estimation error.
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NewsTriple lock ‘ticking time bomb’ as earnings grow 8.8%
On the go: Pressure is piling on UK chancellor Rishi Sunak to review the pensions triple lock as average earnings have jumped 8.8 per cent in the latest quarter.
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NewsGenerations divided over triple lock reform
On the go: There is a large generational divide when it comes to keeping the triple lock in its current form, with the over-fifties more keen for it to stay than younger people.
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NewsGender pensions gap continues to widen
On the go: The gender pensions gap has risen to more than £180,000 among people aged above 55, with Covid-19 further widening the gap, according to research from equity release lender More2Life and the Centre for Economics and Business Research.
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NewsRaise retirement age to help UK recovery, says policymaker
On the go: Raising the retirement age could help the country recover post-Covid, a policymaker has suggested.
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OpinionWhat should industry know about tomorrow’s pensioners?
As working lives are becoming increasingly heterogeneous and pension contribution levels are directly linked with housing conditions, Pensions Policy Institute head of policy research Daniela Silcock looks at potential solutions that could improve today’s savers retirement options.
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NewsDWP failed in communicating women’s state pension age changes
On the go: The Department for Work and Pensions failed in communicating changes to women’s state pension age, according to the Parliamentary and Health Service Ombudsman.