Work and Pensions Secretary Iain Duncan Smith will announce today the government is ready to reform the state pension to a flat-rate payment.
In a speech to Age UK, Duncan Smith will pledge to "fundamentally simplify" the pensions system by removing complicated top-ups and means-testing. The announcement of state pension reform was originally expected by the end of 2010. On 4 March, Saga secretary general Ros Altmann said the plans were imminent but complications with contracting out were behind the hold-up. Duncan Smith will not reveal a figure for the new flat-rate pension today, although this is widely anticipated to be £140 per week per person. Currently, the state pension is £97.65 per week for men and women, with a...
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