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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.
14 August 2018
Passengers arriving at Heathrow Airport last month faced queues of over two and a half hours at passport control, new figures have revealed.
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11 August 2018
Hundreds of Ryanair flights will not take off as planned on Friday due to pilot strikes in five countries.
10 August 2018
Fad diets that cut out carbs while increasing fat consumption could lead to an increased risk of diabetes, according to new research.
09 August 2018
HIV testing has become even more accessible after a self-testing kit was made available from a High Street retailer.
08 August 2018
Women patients are more likely to survive a heart attack if they are treated by a female doctor, a new US study has revealed.
07 August 2018
The head of British Airways has branded two-hour queues facing travellers at Heathrow's passport control as a "border farce."
04 August 2018
Simple factors such as gender and body mass can help doctors to personalise care for patients with type 2 diabetes and avoid harmful side effects, according to a study.
03 August 2018
Gatwick Express must no longer claim it runs "non-stop to Victoria station in half an hour" and "in just 30 minutes" unless it can achieve the time in most cases, a watchdog has ruled.
02 August 2018
A charity is calling for greater access to respite support after it emerged that 72% of Britain's 700,000 young carers feel lonely and isolated during the summer holidays.
01 August 2018
A plan to build new rail links with Heathrow Airport and connect Windsor's two train stations have been submitted to the Government.
31 July 2018
The head of International Airlines Group (IAG), the company that owns British Airways, is 'optimistic' about a legal challenge to end crippling strikes.
27 July 2018
UK holidaymakers heading on staycations this summer could be losing out on millions of pounds worth of savings by booking train tickets at the last minute, a study has revealed.