Government moves to simplify the state pension will help people better plan for retirement, but present complexity means many are missing out on their benefit entitlements.
Steve Webb, the pensions minister, is determined to sort out the complexities of the state pension and its interaction with means-tested benefits. He is the central figure behind the government’s commitment to introducing a £140 a week flat-rate state pension. The pension, for those with 30 years’ National Insurance contributions, is set to be introduced from 2016 but, in the meantime, the current system means many pensioners are still not claiming their entitled benefits in full. Losing out In fact, figures from Just Retirement Solutions claim more than half of pensioners are lo...
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