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Welfare Reform on the Web (August 2008): Pensions - UK

Lone pensioners' 10,000 income


Financial Times, July 15th 2008, p. 4

Figures from the Office for National Statistics show nearly two-thirds of single pensioners are living on less than 10,000 a year, and 45% of pensioner couples have less than 15,000.

Minister acts on warnings over new pensions savings scheme

N. Timmins

Financial Times, July 24th 2008, p. 4

The Pensions Minister announced yesterday that occupational pension schemes will be able to use their existing methods of calculating pay to work out whether they are exempt from putting employees into the new national pensions saving scheme from 2012. The move will help employers, who had been worried that the requirement to include overtime and bonus payments in the calculations would place an extra burden on them, which may have meant some schemes would close. Representative bodies had also pointed out that such payments fluctuate over time, and therefore should not count towards pensionable pay.

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