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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.
21 October 2016
A union is warning of travel chaos over the Christmas period at four major UK airports, unless a baggage carrier transfers staff to other companies.
20 October 2016
Thousands of passengers faced travel chaos yesterday after rail service through the Channel Tunnel was suspended because of a power failure.
19 October 2016
People planning holidays from Gatwick Airport in the run up to Christmas could face travel chaos as unions threaten to strike over a pension dispute.
18 October 2016
Eurostar has said it will cut 12 services from London St Pancras to Paris and Brussels.
15 October 2016
Tourists in Thailand are being advised to "behave respectfully" and wear "sombre" clothing as the country mourns King Bhumibol Adulyadej.
14 October 2016
Holidaymakers are being warned to buy currency in advance as exchange rates being offered are as little as 0.96 euro to the pound at airports.
13 October 2016
Scientists say there is strong evidence air pollution and vitamin D deficiency can cause dementia.
12 October 2016
More people are going on holiday than at any time in the past five years despite terror attacks and the impact of Brexit, according to a study.
11 October 2016
People from across North Carolina had to be rescued from their homes as the downgraded Hurricane Matthew blew out to sea - leaving a trail of destruction in its wake.
04 October 2016
People travelling abroad is on the rise, according to the World Tourism Organisation (UNWTO)
08 October 2016
A hurricane pelting the coast of Florida and described as a 'monster' by a local official has brought chaos to the state, with flights cancelled, homes evacuated and theme parks shut.
07 October 2016
Low-cost airline easyJet says its profits will nosedive as terrorist attacks and air traffic control strikes are taking their toll on the company.