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Pensions shake-up unveiled

Details of a shake-up of the state pension have been unveiled by the Government. A single flat rate, equivalent to around £144 in today's money, is set to be introduced for new pensioners from 2017 in a bid to simplify the system.

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Government pension plans 'full of holes'

The Government has not been completely honest in today's announcement. The fact is that without additional money, our state pension system will remain completely inadequate.

Future pensioners have little chance of putting aside any money given our low wage economy or building up a decent company pension and will therefore have to rely more and more on the state system.

But even at today's prices, £144 a week still represents a state pension that is well below the official poverty line for older people.

– Dot Gibson, National Pensioners' Convention

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