The Treasury has denied media reports it proposed a pension compromise plan to offer earnings-related pensions to those over the age of 75.
Earlier media reports suggested the Treasury had put forward a proposal to link the pensions of those over the age of 75 to earnings instead of inflation during discussions on pensions reform. The reports suggested the proposal could have been seen as a compromise in response to the Pensions Commission’s idea to link the entire basic state pension to earnings, which has been reported as being considered too expensive to adopt by the Treasury. However the Treasury department has denied the reports saying: “This story is wrong. No such proposal has been made by the Treasury. As the Chancel...
To continue reading this article...
Join Professional Adviser for free
- 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