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Centre for Policy on Ageing | |
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Draft Pensions Bill
— presented to Parliament by the Secretary of State for Work and Pensions | | Corporate Author | Department for Work and Pensions - DWP |
| Publisher | TSO, London, January 2013 |
| Pages | 114 pp (Cm 8529) |
| Source | Download: http://www.official-documents.gov.uk/document/cm85... |
| Annotation | In April 2011, the Government published a Green paper, 'A state pension for the 21st century' (Cm 8053), which consulted on two broad options for reforming the state pension system for future pensioners. The Government has now published a White Paper, 'The single-tier pension: a simple foundation for saving' (Cm 8528) and a draft Pensions Bill. This draft Bill contains provisions to introduce a single-tier pension which will, for future pensioners, replace the current basic State Pension and additional State Pension with a single component flat-rate pension that is set above the basic level of means-tested support. The enacted Bill will bring forward the increase in the State Pension age to 67 by eight years (as announced in November 2011), meaning that the State Pension age will gradually rise from 66 to 67 between 2026 and 2028. Other provisions include measures to reform the current suite of Bereavement Benefits through the introduction of Bereavement Support Payment. Provisions relating to private pensions mostly clarify existing legislation about automatic enrolment or the Pensions Regulator; also the power to prohibit offer of incentives to transfer pension rights. This document includes Explanatory notes (24 pp) which provide an outline of the effect of each clause in the draft Bill, and are intended to be read alongside it. The draft Bill is being submitted for formal pre-legislative scrutiny by the Work and Pensions Select Committee, which will be issuing a call for evidence (see website, www.parliament.uk/workpencom). The DWP also seeks comments on this Draft Bill by 22 March 2013 (contact: Pensions Bill Team, Department for Work and Pensions, 1st Floor, Caxton House, Tothill Street, London SW1H 9NA. Email: pensions.bill@dwp.gsi.gov.uk). This publication can be accessed online (at www.dwp.gov.uk/draft-pensions-bill). |
| Accession Number | CPA-130208001 E |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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