State pension

As the Chancellor puts the finishing touches to the Budget, the PP team looks at what the industry would like to happen

The state pension age should rise to 70 by 2040 - more than 20 years earlier than scheduled under government changes - the former chairman of the Financial Services Authority (FSA) Lord Adair Turner said last night.

HM Revenue and Customs has announced measures to help defined benefit (DB) schemes handle the administration associated with the abolition of contracting out.

Scottish pensioners will have to wait more than a decade longer than their English counterparts to enjoy a third of their adult life in retirement under state pension reforms, according to the Pensions Policy Institute (PPI).

Is increasing the state pension age the best way to manage improved life expectancies? Natasha Browne investigates

Buck Consultants’ Fraser Smart says small pots and state pension top-ups could combine

Barnett Waddingham’s Malcolm McLean urges the government to bring forward DA legislation

Retirees with small pots should be allowed to draw down savings as fixed-term pensions to enable them to defer taking a state pension, says the Association of Consulting Actuaries (ACA).

Opinion was divided over this question too, but more respondents were in favour of the triple lock than were against it.

Pensioners would have been better off without the triple lock