Flat-rate state pension creates five million 'losers': PPI

The reform, proposed in the government's green paper A State Pension for the 21st Century, would be "broadly cost neutral", according to research commissioned by the National Association of Pension Funds (NAPF). "A single-tier state pension would lead to winners and losers," said Niki Cleal, PPI director. "Some seven million pensioners could see their household pension income increase under the single-tier reform by 2034, but five million pensioners could see their household's pension income reduce." She added a single-tier pension would benefit women, carers and some low earners w...