Worried State Pension Reform Hurts Elderly

Worried State Pension Reform Hurts Elderly.

David Cameron has raised concerns that the state pension reforms which will see the introduction of a flat-rate £140-a-week could result in millions of people losing out or not benefiting from the reform.

According to a report by the Financial Times, the concerns rested on higher earners, who would no longer be able to boost their income with the state second pension, and existing pensioners who would not see the flat-rate applied to people already in retirement.

However, the comments contrast with the position of pensions minister Steve Webb, who told PP earlier this month the reform had the prime minister's backing.  

Joanne Segars, chief executive of the National Association of Pension Funds warned the government that they need to stick to the plan to introduce the flat-rate pension.  She also stated that the current system is a mess and change is long overdue, so now is not the time for the government to be putting the brakes on this landmark reform.

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