After over a year of looking at a wide range of evidence, and meeting many individuals and organisations, John Cridland’s Independent Review of the State Pension age has published its final report. John Cridland was tasked by the Government to make recommendations around a ‘fair and sustainable’ State Pension age (SPA) from 2028 onwards.
Posted in Government, Money Matters, Pensions, Public Policy
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, Cridland report, John Cridland State Pension Age review, money matters, older people, pensions, State Pension Age, State Pension age independent review, State pension reform
The Pension Schemes Bill has nearly completed its passage through Parliament, taking a step closer this week as Peers considered the Bill at its Report Stage in the Lords. As you’d expect, Age UK has taken a keen interest in this Bill, which is part of the Government’s wider ranging reforms to pensions announced by the Chancellor in the Budget last spring – the most significant changes to private pensions for over a generation.
From this April, there will be great flexibility, and greater choice for older people to access their retirement savings but with greater choice comes more responsibility, and potential complexity and risks, for older people making these important choices. Generally speaking, the pension reforms are a really welcome move giving those with pension savings approaching retirement freedom and greater options about how to access their money. However, with greater flexibility can also come greater risks for consumers. Continue reading
Posted in Government, Income, Money Matters, Pensions
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, Dashboards and Jam Jars Age UK report, older people, Pension Schemes Bill, Pension Schemes Bill Age UK, pensions, Pensions changes Age UK, pensions reform, private pensions changes Age UK
This week we have a blog from Caroline Abrahams, Age UK’s Charity Director.
It’s not every day that three Government Ministers come to our offices but that’s what happened earlier this week.
On Tuesday we were delighted to be able to offer around sixty older people the opportunity to talk to the Prime Minister, David Cameron, the Secretary of State for Work & Pensions, Iain Duncan Smith and the Pensions Minister, Steve Webb.
The event coincided with the publication of the Government’s Taxation of Pensions Bill, which will put into law the huge shake up of the pension system announced by the Chancellor in the Budget earlier this year.
A round table of ‘older’ Age UK staff also had the opportunity to discuss the pension reforms and other big issues for them with the Prime Minister before he joined the larger group of older people, Iain Duncan Smith and Steve Webb, where he briefly outlined the pension changes to come.
Among other things, the Prime Minister said “I think if you’ve worked hard and saved during your life you deserve responsibility in retirement about how you spend the money that you’ve worked so hard for and saved so hard for.” Continue reading
Posted in Government, Income, Money Matters, Public Policy
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, David Cameron, David Cameron pensions, general election 2015, older people, pensions