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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.
20 May 2017
Holidaymakers travelling via London City Airport will benefit from a digital air traffic control tower from 2019.
19 May 2017
Many Britons are increasing their risk of developing diseases like cancer by drinking too much alcohol, experts have suggested.
18 May 2017
People could increase their chances of developing serious illnesses after spending just two weeks as a 'couch potato', new research suggests.
17 May 2017
Holidaymakers who would like to sample the high life can now do so at one of the major airports of the United States.
16 May 2017
A star of the soap world has called for more attention to be paid to common health problems like Alzheimer's disease.
13 May 2017
Two major Scottish airports have achieved their strongest April passenger totals on record, new figures reveal.
12 May 2017
The carbon emissions of EasyJet flights have been cut to their lowest level on record, the budget airline has reported.
11 May 2017
Holidaymakers faced long queues and delays at Stansted Airport on Tuesday (May 9), due to a fault with the site's security scanners.
10 May 2017
Workers have been encouraged to find out about their full entitlement to holidays, with many thought to be missing out on paid leave.
09 May 2017
Holidaymakers have been urged to stay vigilant against potential scams.
06 May 2017
Researchers in the US are recommending that anyone experiencing the symptoms of so-called 'noisy knees' should have them checked out, as they may be an early sign of osteoarthritis.
05 May 2017
Excessive drinking among baby-boomers could pose health risks further down the line, experts have warned.