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17 January 2013 09:22
The new state pension plans are intended to simplify the present system by introducing a single flat rate pension from 2017
A new overhaul of the state pension could leave more than 50% of those who reach retirement age after 2060 less well-off, according to new research. The proposals are intended to simplify the present system by introducing a single flat rate pension from 2017, worth approximately £144 a week in today's currency.
While the Government's White Paper acknowledges that some groups will lose out, there has been fierce debate about who will be hit hardest by the reforms. The coalition claims the burden will largely be borne by high earners, while the changes will benefit women, low earners and the self-employed. However, Labour has warned that the plans will hit more than 400,000 women who are close to pension age, while men in the same position will be spared.
The proposals represent a cut in pension entitlements for the majority in the long-term, the Institute for Fiscal Studies (IFS) said. Campaigners fear the changes could make it impossible for pensioners to enjoy their retirement by eating out or taking holidays, especially once extra costs like seniors' travel insurance are taken into consideration. However, pensions minister Steve Webb said there were "far more winners" under the new scheme.
24 September 2016
Slim people who look physically healthy may still be at increased chance of being diagnosed with bowel cancer if they have raised insulin levels, according new research.
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23 September 2016
Theresa May is being urged to give the go-ahead for flights to resume between the UK and Sharm el-Sheikh by the head of the cross-party parliamentary group on Egypt.
22 September 2016
Budget airline Jet2.com is to open its first base in the south of England at Stansted.
21 September 2016
Smoking rates have dropped to the lowest level on record in England, new figures show, suggesting messages about the health effects of cigarettes are hitting home.
20 September 2016
Concerns have been raised over flight disruptions caused by heavy drinking among passengers.
17 September 2016
British Airways' decision to launch direct flights from London to Tehran earlier this month positions Iran as one of the hottest destinations to visit in 2017, according to experts.
16 September 2016
More than 100 flights have been cancelled as French air traffic controllers go on strike again.
15 September 2016
Two thirds of MPs would support an expansion at Heathrow.
14 September 2016
TripAdvisor is launching a new homepage, making the booking of holiday activities and tours even easier.
13 September 2016
Travellers are to be charged to use fast lanes to get through passport checks in an attempt to cut queues.
09 September 2016
People travelling to regions affected by the Zika virus outbreak should practise safe sex for at least half a year upon their return, health leaders say.
08 September 2016
British Airways is apologising to passengers for delays after an IT glitch hit check-in systems.