Flat-rate state pension will slash pensioner poverty, says think tank

The plans to reform the state pension, announced earlier this year, could cut pensioners living in poverty from 16% of all pensioners, as it was in 2009, to 10% by 2025, the PPI said. In its latest report, The implications of Government policy for future levels of pensioner poverty, the think tank said pensioner poverty has been falling since 1989, when 39% of pensioners lived in households with incomes below 60% of median income. In March during the Budget, the government announced it would introduce a new, single-tier, flat-rate state pension of around £140 per week in 2015. The aim...