The Pensions Policy Institute has published two briefing papers analysing the potential impact of the Government’s single-tier pension reform, entitled; ‘The impact of the abolition of contracting out’ and ‘Changes to the state pension age’.
These briefings are part of a series that have been published throughout 2013-14 to provide a detailed, comprehensive and independent analysis of the impact of introducing the single-tier state pension. The analysis is part of a research project funded by the Nuffield Foundation and has covered issues including:
- The impact on different cohorts of individuals, and individuals with different characteristics.
- The managing of the transition between the current system and the single-tier pension.
- The potential impact on the single-tier pension of a switch in the pension increase mechanism at the end of the current parliament from triple locking the pension to applying earnings linked increases.
- The impact of the end of contracting-out on Defined Benefit pension schemes, their sponsoring employers and members.
- Differences in life expectancy in the UK and the implications of changes to the State Pension Age.
A final briefing will be published next week on the impact of the reforms on government costs and spending as well as long-term retirement income implications.
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