Legislation
Pensions Bill
The Bill contains measures to reform the State Pension, establish a delivery authority for personal accounts, and some simplification of private pensions.
In summary these measures are:
- Making the basic State Pension more generous by restoring the link with earnings
- Increasing the number of people entitled to a full basic state Pension by reducing the number of years it takes to build a full basic State Pension from 39 years for women and 44 years for men to 30 years for everyone who reaches State Pension age from 6 April 2010;
- Making it easier for parents and carers to build a State Pension;
- Simplifying and improving access to the State Second Pension;
- Raising the State Pension age over time from 2024 to reflect increasing longevity, supporting extending working lives;
- Establishing a delivery authority to start the process for delivering personal accounts.
- Streamlining regulation of private pensions, making it easier for people to plan and save.
- Read the Pensions Bill (This link will take you to the House of Commons website)
Regulatory Impact Assessment
The Regulatory Impact Assessment (RIA) sets out the impacts of the reforms on business and other groups. It also provides an analysis of the economic evidence, looking at the costs and benefits of the measures in the Bill and considering the impact of the whole package of reforms.
Contents
- Contents, Introduction and Chapter 1 - Overview (182KB)
- Chapter 2 - State Pension Reforms (223KB)
- Chapter 3 - Creation of a personal accounts delivery authority (46KB)
- Chapter 4 - Private pensions reform (121KB)
- Annexes A and B, Glossary (543KB)
The Gender Impact of Pensions Reform
This contains a detailed gender analysis of the reforms, comparing outcomes for men and women.