Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Economics, government & businessLatest NewsDepartment for Work and PensionsPay & benefitsPensions

Pensions Act passed into law setting in train long-term changes to state pensions

by Mike Berry 31 Jul 2007
by Mike Berry 31 Jul 2007

The Pensions Act 2007 has now received Royal Assent, bringing into force many of the government’s pensions reforms.

As well as providing a boost for women and carers, the Act will restore a link between the basic state pension and earnings from 2012 and provide a simpler, flat-rate state second pension.

The number of years’ contributions required to achieve a full basic state pension will be reduced to 30 for both women and men from 6 April 2010. The current requirement is 39 years for women and 44 for men.

The Act will also gradually increase the state pension age to 68 by 2046.

Work and pensions secretary Peter Hain said: “Many women and carers are currently denied a full pension entitlement because their family and caring responsibilities mean they are not in work long enough to qualify.

“By providing a fairer deal on state pensions, we are providing a platform for greater saving by both individuals and employers in the new savings scheme we are introducing in the next Pensions Bill.”

Meanwhile, Paul Myners has been appointed chairman of the Personal Accounts Delivery Authority, with effect from 1 August.

The delivery authority will offer independent advice to government and will be responsible for getting personal accounts up and running and for ensuring employers meet their new obligations.

Myners has extensive executive experience in the financial sector and is also chairman of the Low Pay Commission.

He said: “Setting up a trust-based, occupational pension scheme, with up to 10 million members, is going to be a major undertaking, and I look forward to getting on with the role.”

Avatar
Mike Berry

previous post
Public sector unions PCS and NUT call on TUC to support co-ordinated pay strikes
next post
Work-life balance for City traders is aim for CMC Markets HR director Anne Stevens

You may also like

Government plans to slash Civil Service redundancy pay

16 Aug 2022

Real wages fall at sharpest rate on record

16 Aug 2022

Degrees less important to employers with entry-level vacancies

16 Aug 2022

Employees going into office just 1.5 days a...

15 Aug 2022

PwC drops 2:1 degree class requirement

15 Aug 2022

Graduate and apprentice salaries shoot up in war...

15 Aug 2022

Personnel Today Awards 2022 shortlist: Excellence in Public...

15 Aug 2022

Hiring boom set to slow as employers come...

15 Aug 2022

Are you a ‘quiet quitter’?

12 Aug 2022

July saw highest number of job adverts for...

12 Aug 2022
  • 6 reasons why work-based learning is better than traditional training PROMOTED | A recent Fortune/Deloitte survey found that 71% of CEOs are anticipating that this year’s biggest business disrupter...Read more
  • Strengthening Scotland’s public services through virtual recruiting PROMOTED | This website is Scotland's go-to place for job seekers looking to apply for roles in public services...Read more
  • What’s next for L&D? Enter Alchemist… PROMOTED | It’s time to turn off the tedious and get ready for interactive and immersive learning experiences...Read more
  • Simple mistakes are blighting the onboarding experience PROMOTED | The onboarding of new hires is a company’s best chance...Read more
  • Preventing Burnout: How can HR help key workers get the right help? PROMOTED | Workplace wellbeing may seem a distant memory...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+