State pension

Prime Minister David Cameron denied the end of contracting out will create a wave of further closures of final salary pension schemes.

Employers with final salary schemes face a hike in National Insurance contributions which could foreshadow another round of DB closures, as the government prepares to abolish contracting out later today.

This afternoon the government will unveil its long-awaited state pension white paper, revealing decisions on the future of contracting out and increasing the state pension age in line with life expectancy.

The new flat-rate state pension, set at about £144 a week and starting in April 2017, is set to be confirmed later today (Monday).

The government has been forced to publish an audit measuring its performance against the Coalition Agreement, which includes failures on pension pledges.

The coalition has reaffirmed its commitment to reforming the state pension although did not reveal any specifics or announce a date for the white paper.

David Cameron and Nick Clegg will reaffirm their commitment to reforming the state pension in a mid-term review of the coalition's progress.

The government could ease the transition to the flat rate state pension by paying out old state second pension entitlements as one-off sums in a ‘buyout' arrangement, Barnett Waddingham says.

Eversheds has launched version two of its interactive PC and iPhone app to include information on pensions law.

The Chancellor George Osborne has confirmed the move to a flat-rate state pension.