Archive for the ‘could the government be showing vision’ Category

Could The New Government Be Showing Vision

November 2, 2010 Leave a comment

Ten commandments thou shall not steel

Big Increase In State Pension Planned
Reports: State Pension Set For Big Increase

The state pension is to rise to around £140 a week per person – an increase of more than 40% – under Government plans that will benefit women in particular. The Department for Work and Pensions (DWP) says the aim of the reform will be to provide a “decent” pension for everyone in the UK. Means testing will be swept away and the money saved will pay for the increases. At present the basic state pension is £97.65 for a single person and £156.15 for a couple with a means-tested top-up for the poorest. This ensures single pensioners have an income of at least £132.60 and couples get £202.40.
The proposed ‘single tier’ pension would provide everyone with an income of £7,280 a year – or £14,560 for a couple – regardless of their financial position. It will especially women who often fail to qualify for the full basic pension as they have not paid enough National Insurance contributions. Generally this is because they have given up work to bring up chilldren. Under the proposed new system – to be outlined in a Green Paper later this year – the pension payment would be based on residency in Britain.