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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 April 2017
Want to lower your risk of suffering cancer or heart disease? Then get on your bike.
20 April 2017
Researchers have made a significant breakthrough in understanding the way in which breast cancer grows and spreads.
19 April 2017
Budget airline easyJet has apologised over an incident in which two passengers were ordered to leave an overbooked flight.
14 April 2017
Holidays have topped the priority lists of people approaching retirement, with close to two thirds (64%) aiming to go on more trips once they leave the world of work behind.
13 April 2017
A major bank has outlined plans to become more "dementia-friendly".
12 April 2017
Restrictions should be put in place to curb the drinking of alcohol before early-morning flights, a House of Lords committee has suggested.
11 April 2017
Drivers heading to airports and ferry ports this bank holiday weekend have been told to expect heavy traffic.
People who are beginning to notice signs of grey hair have more to worry about than their image.
07 April 2017
Women who live in built-up areas could face a higher risk of developing breast cancer, according to a new report.
06 April 2017
It's well known that oily fish like mackerel is good for the heart and the brain but experts are now considering whether it can also help people with diabetes.
05 April 2017
The UK could face a "damaging" drop in flights if an aviation deal can't be sorted quickly in the Brexit negotiations, a travel trade group has warned.
04 April 2017
BBC broadcaster Victoria Derbyshire has revealed that losing her hair while undergoing chemotherapy was the "worst bit about cancer treatment".