Forum Message

Topic: Re:
Posted by: Cllr Sam Hearn
Date/Time: 18/11/15 15:26:00

Age UK highlights that over £3.7bn of means tested benefits available to pensioners remain unclaimed.

Key priorities as set out in the report

• Progress has been made in tackling pensioner poverty, but more can be achieved. Age UK wants to see poverty halved by 2020.

• The new single-tier State Pension starting in April 2016 will be more generous for some, though others will receive the same or less than under the old system. The Government must improve transitional protections and consider how current pensioners with low state pensions can be brought into the new pension where this is to their advantage.

• The social security system must provide adequate support to current pensioners with limited private resources and those approaching pension age who cannot work.

• The introduction of the pension flexibilities in April 2015 brings many benefits but also transfers some risks to individuals. The Government and regulators must take action to ensure that all consumers – in particular those who are disengaged from their pension saving – achieve decent outcomes when using their pension fund.

• People need appropriate guidance, information and advice as they approach retirement, at the point of retirement and later on in older age. This must be matched by the financial services industry ensuring products and services are transparent, good value and meet customers’ needs.

Entire Thread
TopicDate PostedPosted By 14:07:00 Philippa Bond
   Re: 15:26:00 Cllr Sam Hearn

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