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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.
15 December 2018
Older people are 50% more likely to take themselves to A&E if they live alone, a new study has revealed.
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14 December 2018
Over 4.3 million older people in the UK are at risk of not getting the care they need just because of their postcode, new research has revealed.
13 December 2018
Space tourism could move one giant leap closer this week as Virgin Galactic expects to reach "space altitudes" for the first time.
12 December 2018
If you're worried about piling on the pounds this Christmas, regular home weighing could prevent you from excessive festive eating and drinking.
11 December 2018
Airlines that automatically cancel return flights when passengers fail to show for their outbound journeys are being warned they risk breaking consumer law.
08 December 2018
Providing better conditions for disabled passengers is one of the main aims of a proposed new charter for airlines and airports.
07 December 2018
Women who don't attend cervical screenings should be offered testing kits they can use at home, new research suggests.
06 December 2018
Ryanair could be slapped with enforcement action from the airline regulator after it refused compensation for passengers hit by flight disruption caused by staff taking strike action.
05 December 2018
Protein supplements and muscle training could be the most effective ways to delay or reverse the effects of frailty, a new study suggests.
04 December 2018
Mumford and Sons bassist Ted Dwane has helped create a new exhibition to raise awareness of the loneliness felt by people living with multiple sclerosis (MS).
01 December 2018
A leading charity has praised the actions of Lloyd Russell-Moyle, saying the Labour MP had "done everybody a service" by disclosing his HIV status.
30 November 2018
Sweating out the daily stresses in a sauna could be linked to a reduced risk of death from cardiovascular diseases (CVD) in people aged 50 and over, according to a new study.