DWP to delay state pension paper.

Details: Published: 29 October 2012

The Department for Work and Pensions will not publish its proposals for state pension reform until the autumn due to the “complexity” of the system.

Pensions minister Steve Webb said in a written statement today that proposals for both the universal state pension and a link between state pension age and longevity, due this spring, will now not be published until after the recess.

"Given the scale, complexity and importance of these two significant reforms we are still working on the details, to ensure we get them right," said Webb.

"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."
The announcement comes after industry figures voiced concern that the universal state pension will penalise people who have built up S2P and SERPS rights

Source : www.professionalpensions.com

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