Analysis of the impact of the new State Pension: press release

Document type
Other
Corporate author(s)
Pensions Policy Institute
Publisher
Pensions Policy Institute
Date of publication
5 April 2016
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion, Older Adults
Collection
Social welfare
Material type
Reports

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The PPI has undertaken analysis of the Department for Work and Pensions’ (DWP) impact assessment of the new State Pension (nSP), to estimate the number of people of different ages who may be notionally better or worse off under the nSP.

This analysis highlights that:

  • Approximately three quarters of people in their twenties are set to lose a notional average of £19,000 over the course of their retirement (6.3m of 8.4m expected pensioners).
  • Approximately two thirds of people in their thirties are set to lose a notional average of £17,000 over the course of their retirement (5.1m of 7.7m expected pensioners).

This analysis was undertaken for the BBC to answer questions posed by Simon Gompertz, Personal Finance Correspondent, BBC News.

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