Budget: Flat-rate £140 state pension signed off by Chancellor

George Osborne told the House of Commons a single-tier pension, above the level of means-testing, would be introduced and cost no more than the price paid for the current system. Osborne said more information would be released next month. He said it would be a "generous basic state pension for those who have worked hard and saved hard all their lives". Bluefin head of technical, marketing and research Robin Hames backed the announcement. He said "The complexities of the upcoming automatic enrolment process meant that alongside the existing state pension setup, some employees enr...