THIS MORNING'S papers are all reporting on the new pensions deal which has been agreed between the prime minister and the chancellor to re-link the state pension increases to earnings and raise the retirement age to 68.
The Financial Times says a historic deal to restore the earnings link to the basic state pension has been struck by Tony Blair and Gordon Brown, but its introduction will be delayed until 2012 to make it more affordable. The agreement to create a more generous state pension – the centrepiece of Lord Turner’s proposed overhaul of retirement benefits – defuses one of the most explosive policy differences between the prime minister and chancellor, and lets the government end a week of infighting on a more consensual note. The final pensions reform proposals, due out on May 22, will be a...
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
