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Pensions & Benefits

Government sets up Working Group on frozen pensions

21/12/2011

After continuing pressure from the public and MPs, coordinated by the International Consortium of British Pensioners, the government has decided to set up an official Working Group to look into the issue of frozen pensions.

Women facing pension trauma

Pensions experts have claimed that women face a rough ride in old age unless they bridge the gap with men and start saving more for retirement.

Researchers discovered that 59 per cent of women were not saving for a pension, compared to 52 per cent of men, during a recent study.

Campaigners criticise Warm Home scheme for failing to reach those in need

Britain’s biggest pensioner organisation, the National Pensioners Convention (NPC) has warned that the government’s new Warm Home Discount (WHD) scheme needs urgent reform to prevent hundreds of thousands of older people missing out on much needed support with their energy bills.

Low income couples where one partner is of working age and the other has reached Pension Credit Age in future could end up with an income of up to a £100 less a week than those currently in an identical position because of changes in the Welfare Reform Bill.

Under the proposed Universal Credit system a pensioner could be better off living alone receiving Pension Credit rather than receiving Universal Credit as a couple.

The NPC claims that Mr Clegg has failed to understand the inherent problems associated with means-testing and has over estimated the number of wealthy pensioners living in the country.

Official figures show that 6m pensioners do not pay tax, 4m pay at the standard rate and 400,000 pay at the top rate.

The age at which people can draw their state pension could rise to 74 for those born in 2010, according to a leading accountancy firm.

This means the state pension age could be 70 by 2050 or even earlier - rising to 74 by the 2080.

NFOP and CSPA disappointed by Judge’s ruling on CPI

Members of the National Federation of Occupational Pensioners (N.F.O.P) and the Civil Service Pensioners’ Alliance (CSPA) feel let down by the judgement handed down today against the re-instatement of RPI for pension increases – but have vowed to continue the campaign.

Autumn Statement offers cold comfort for Britain's pensioners

Britain's biggest pensioner organisation, the National Pensioners Convention (NPC) has described today's Autumn Statement as offering "cold comfort" to the country's older generation.

Age UK’s response to the Chancellor’s Autumn Statement

Age UK In response to the Chancellor’s Autumn Statement, Michelle Mitchell, Charity Director for Age UK said:

On raising the State Pension Age

“The decision to speed up the timetable to increase the State Pension Age to 67 will come as a bitter blow to many people fast approaching retirement especially those in ill-health, caring for relatives and those out of work.

Live webchat on retirement and how to tackle retirement issues

On 25th May 2011, retirement and insurance specialist LV= will reveal how the nation’s over 50s are planning for and living their retirement years in its fourth annual State of Retirement Report.

The Report will address how and where people are saving for retirement and what they think of the Coalition Government’s pension reforms.

'Abolish Pensioner Benefits' says IEA Report

The elderly have received 'special treatment' in the Government spending cuts, according to a report from influential think tank the Institute of Economic affairs.

The Government has had to make tough decisions to help cut the public debt burden and this has affected all areas of society.

Pensioners have been hit particularly hard as most are defined as being 'economically inactive' and are not in a position to boost their income, this leaves them vulnerable to the rising cost of living.

But while pensioners continue to suffer, the Institute of Economic Affairs has published a report that argues older people have received 'special treatment' in the spending cuts and that they should bear a greater share of the burden.

Budget announcement on state pension reform applauded by National Association of Pension Funds (NAPF).

"This is a turning point for pensions in the UK. Over half a million new pensioners a year will get a simpler and more generous state pension, and reliance on means-tested benefits will be slashed.

“For too long we have put up with one of the most complicated and meanest state pensions in Europe", says NAPF Chief Executive Joanne Segars.

New report shows pensioners face the biggest cuts

Britain's biggest pensioner organisation, the National Pensioners Convention (NPC) has welcomed the Institute for Fiscal Studies/BBC report published today (March 21) which shows that pensioners are among the worst affected by the government's austerity measures.

John Hutton’s final report on public sector pensions could have gone further to restore equality across the pensions apartheid

John Hutton’s task in seeking to reform public sector pensions in a fair manner was almost impossible[1]. His final report contains one or two things that his interim report did not tell us, but to a large extent he has followed through on his promises to recommend higher rates of contributions, raising normal pension ages, and replacing final salary with career average schemes.

Age UK and EON announce cold weather payments payout of over £3.5 Million for Age UK gas customers

With summer well underway, this year’s freezing winter feels a distant memory. But, following one of the worst winters in recent times, gas customers on the Age UK Energy tariff, provided by E.ON, are set to receive additional Cold Weather Payments totalling more than £3.5 million.

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