The pension White Paper has been described as a major reform to match the Beveridge reforms of the 20th century, but I don't buy that.
The relatively recent introduction of mass means-testing for the elderly, which has become such a disincentive to future savers, is more likely to register in the history books. The big question is whether this white paper willl do enough to undo the damage caused to date by widespread means-testing and the complete disregard for maintaining the worth of the basic state pension. In my view it does neither. The earnings link being restored to the basic pension has caught the headlines, but if people really understood what is being offered I doubt they would be too impressed. The link to e...
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