State pension reforms only provide slight benefits

In a briefing note, the PPI examines how practical reforms to the current contributory principle will be compared to the Pensions Commission’s plans for a residency based pension which were dismissed by John Hutton, Secretary of State for Work and Pensions. The white paper on pensions reform, published on 25 May, proposes to reduce the number of qualifying years for a full basic state pension from 44 for men and 39 for women to 30 years for everyone. It also outlines plans to change the way in which credits are granted to parents and carers for both the basic state pension and the state...