Saga chief discusses pensions calculator proposals
www.moneynews.co.uk > Pensions calculator > Saga chief discusses pensions calculator proposals
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Saga chief discusses pensions calculator proposals
Tue 5th Apr 2011
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Dr Ros Altmann, director general of the company, responded to the release of the document by pointing out that radical amendments are needed to the current structure, since it is unaffordable and "horrendously complex".
She explained that the proposed system will be beneficial to low paid workers, women, carers, disabled people and the self-employed, as they will no longer lose their retirement income due to their employment history.
"At last, we would have a state pension that people could understand. At the moment, people are confused about what they will get from the state," said Dr Altmann.
The standard full pension income will be £140 per week.
The green paper has been criticised by the National Pensioners Convention, which suggested it creates a two-tier structure depending on when a person retires, since the new rules apply to those who finish work after 2016.
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Related News : Saga |
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