State Pension: Government rethink on £140 per week flat rate State Pension?

One of the coalition government’s flagship policies could be under threat, if reports in today’s Financial Times are correct. The Work & Pensions Secretary, Iain Duncan-Smith, has previously announced the introduction of the flat rate State Pension to replace the existing system, which was seen by many as overly complex. The policy was also included in George Osborne’s last budget. However, the FT reports today that Prime Minister, David Cameron, is considering a rethink amid fears that the policy will leave many worse off, including people traditional Conservative voters. The FT report, says that Mr Cameron has decided to review the policy, after ...

State Pensions: Stay at home mums no longer penalised

Work and Pensions Secretary, Iain Duncan-Smith, has announced that stay at home mums will no longer be penalised when the time comes to draw their State Pension. At present many stay at home mums, as well as carers, do not qualify for a full State Pension as they have not paid National Insurance contributions for the required 30 years. However, under new reforms it seems as though both groups will now qualify for a full State Pension. Flat rate State Pension from 2015...

State pension age rise delayed to help worst hit women

The government have announced that it will delay rises to the state pension age to help out women worst hit by the recently proposed changes. The plan to raise the state pension age to 65 by 2018 and then 66 by 2020 would have meant some women waiting an extra two years for their state pension. Critics said that as many as 330,000 women could have been affected and that this was unfair as it gave those worst affected little time to make alternative arrangements. Change However welfare secretary, Iain Duncan Smith (pictured), has announced that this will now be reduced to 18 months. ...

Government say state pension age is rising too slowly

Iain Duncan Smith has said that the government believes the state pension age is rising too slowly. In an interview with the BBC, Work & Pensions Secretary Iain Duncan Smith said, "We've always said that the timescale left by the last government was too slow." The state pension age is currently set to rise to 67 by 2036 and to 68 by 2046 and whilst it has been stressed that a final decision has not yet been reached, it is clear that the government are considering other options. Mr Duncan Smith continued, "The [last] government left us with a deadline in the 2030s ...