State Pension

£130k annuity pot needed to get same income as new state pension

The government is set to introduce a new flat rate state pension in 2017 nad pensioners would need a £130,000 annuity pot to get the same amount of money, according to research from Prudential.

New research suggests that the financial gender gap has extended to retirement

Prudential research shows gender pay gap extends to pensions

New research from the Prudential reveals that men retiring this year can expect to receive a pension almost 50 per cent higher than women, at £18,000 rather than £12,250.

Pensioners today are better of than before, according to the ONS

ONS reveals today's pensioners better off than ever before

New data published by the Office for National Statistics shows that pensioners disposable income average £17,700 and that today's pensioners are better of than ever before.

Inflation figures provided some relief to the Governor of the Bank of England today

Inflation fall means state pension increase will be 2.5%

The consumer prices index fell to 2.2 per cent, a 34-month low but analysts expect inflation to rise again in the coming months via higher food, utility and fuel prices.

Pensions: Auto-enrolment begins today for biggest firms

The government's new pension scheme, auto-enrolment starts today for the UK's biggest companies and it is hoped more than four million people will be using it by May 2014.

David Cameron is considering other options rather than the flat rate state pension

Cameron calls for review of flat rate state pension plans

David Cameron is considering changing his mind on the flat rate pension, a plan that was widely praised for abolishing means testing and simplifying the pensions system.

State pension system is to complex and "would baffle Einstein"

The Department for Work and Pensions says that the state pension system is too complex and that payments to recipients can vary by £200 a week as it sets out plans for a new white paper.

The OECD reports that the new global state pension age is expected to be 67

OECD says 67 will be new global state pension age

The Organisation for Economic Co-operation and Development says that state pensions have to be linked to life expectancy and countries should encourage auto-enrolment into pension schemes.

The Queen's reign has seen major changes in the UK's demographics

Number of pensioners doubles over Queen's 60 years as monarch

The UK now has twice as many pensioners as in 1952, we are working on average for an extra 10 years each and the number of people living to 100 has risen by 44 times.

Retirement is likely to come later for the next generation

2012 babies won't receive state pension until age 77, says PwC

A new report says that increased life expectancy means that babies born in 2012 should expect to work until they are 77 and there children won't receive state pension until aged 84.

The ONS has released details of the UK's future pension liabilities

UK total pension liability reaches £7.1 trillion, says ONS

The Office for National Statistics says that the total pensions liability for current UK pensioners and existing workers future pensions is £7.1 trillion.

Over 50s will have to work 11 years beyond state pension age

Nearly half of Britain’s over 50s could be forced to work for more than a decade beyond state pension age to keep their standard of living, a report warns.

The basic state pension is now £107.45 per week

Basic state pension rises to £107.45 a week

The basic state pension has risen by £5.30 or 5.2 per cent to £107.45. The increase is based on the level of the consumer prices index in September 2011.

Row breaks out over ‘Granny Tax 2’ pension plans

The Government is bracing itself for another pensions storm – dubbed ‘Granny Tax 2’ – after a Treasury adviser recommended taxing the state pension at source.

Projected retirement income is lower for women, according to the Prudential

One in six people retiring will rely solely on state pension

New research from the Prudential reveals that one in six peoplke retiring this year have no private pension provision and that the problem is worse for women.

The Post Office will undergo a £1.3bn investment proramme

£1.3bn investment means Post Office branches will open longer

The Post Office has announced a new £1.3bn investment programme that is currently being piloted which will see branches revamped and increase their opening hours.

The government has performed a u-turn over pension changes affecting women

PM in pensions u-turn to address concerns of women

An amendment will be made to the government's pension bill delaying by six months the timing of the increase of the state pension retirement age to 66.

Older workers no longer have to retire at 65, after the default retirement age was abolished

Abolition of default retirement age will impact on youth employment

The abolition of the default retirement age of 65 means age can no longer be the sole grounds for terminating employment but could lead to less opportunities for young people.

The flat rate state pension is designed to simplify the UK's state pension system

A guide to the flat rate state pension

The flat rate state pension is the most popular alternative for state pension reform in the UK but what is it, how will it work and when will it be introduced?

Government ministers have been criticised over the speed of pension reforms

State pension reforms criticised as unfair to women

Backbench MPs are urging the government to review the Pensions Bill over criticism that just a small minority of women will have to bear the brunt of the costs.

Treasury Minister Danny Alexander has angered unions

Danny Alexander speech on public sector pension reforms

The Treasury Minister, Danny Alexander has angered trade unions by making a speech on public sector pension reforms whilst negotiations with the unions are still continuing.

Many people in the UK have inadequate provision for their retirement

1 in 5 save nothing for retirement as UK gripped by 'ingrained inertia'

A new report by Scottish Widows shows that although slightly more of us are saving for a pension the UK's expectations of their pension income and when they want to retire is unrealistic.