More consumer protection, a £144 flat-rate state pension and a cap on social care costs were among the measures outlined in today's Queen's Speech.
Under a new Consumer Rights Bill, ministers hope to give consumers greater confidence when buying products, switching suppliers or making purchases by telephone or internet. Laws would also be updated to take account of purchases of online games, music and other content. Also confirmed today was the introduction of the £144 flat-rate state pension. The new Pensions Bill aims to create a simpler state pension by scrapping the two-tier system from 2016 and introducing a single tier pension scheme. The retirement age will be delayed to 67 from 2026 to fund the scheme. The Governmen...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
