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Factsheets and supporting material

This page contains some of the factsheets the Department has published to clarify and explain the reform proposals and some of the research undertaken to support these proposals.

Factsheets

This factsheet presents updated projections of entitlement to Pension Credit and new projections of entitlement to Housing Benefit, Council Tax Benefit and any income related benefit under the reformed state pension system. It also describes the possible interaction between private pensions, after reform and entitlement to the income related benefits.

This factsheet sets out revised projections of spending on pension benefits, and estimates of pension income in the future under pension reform which were correct at the time of publication in 2007. The revised figures take into account a number of changes including new economic assumptions, minor improvements in modelling, and they present the figures in 2007/8 prices and earnings terms.

This factsheet describes the Government's proposals for addressing the gaps in State Pension coverage, including reducing the number of qualifying years and was correct at the time of publication in 2006.

This factsheet presents early findings from a nationally representative telephone survey of employers' attitudes and likely behaviour in response to the workplace pension reforms.

This factsheet presents emerging findings from a nationally representative survey of people likely to be eligible for automatic enrolment under the Government's reforms, including attitudes to automatic enrolment and the minimum employer contribution, and estimates of the likely behaviour of individuals if they were automatically enrolled.

This factsheet presents analysis on the impact of the introduction of automatic enrolment, minimum employer contributions and the new personal accounts scheme on the number of people saving in a workplace pension scheme. It sets out current working assumptions on pension participation following the reforms, and explains how this analysis has evolved since that presented in the May and December 2006 Regulatory Impact Assessments.

This factsheet presents updated analysis on the impact of the introduction of automatic enrolment, minimum employer contributions and the new personal accounts scheme on the number of people saving in a workplace pension scheme. It sets out current working assumptions on pension participation following the reforms, and explains how this analysis has evolved since that presented in the factsheet published in November 2007.

This factsheet provides information to employers on the April 2012 changes on the abolition of contracting out of the additional State Pension on a defined contribution basis. It sets out how they can start planning for the changes and where they can go to find out more information.

This factsheet provides trustees of occupational pension schemes which are contracted out on a defined contribution basis with information on the April 2012 changes and sets out how they will need to plan for the change by discussing the abolition with their associated employer(s) and advisors.

Briefing pack for advisers

DWP has produced a range of materials to help partner organisations and advisers understand the changes to State Pensions that came into effect on 6 April 2010. The links to these materials are below. However, following the formation of the new UK Government, some further changes to State Pensions have been announced, which are explained in the following paragraphs. Please bear these in mind as you read the materials.

Protecting the value of the basic State Pension
The basic State Pension is usually increased each year to protect its value and ensure it will buy roughly the same in future as it does now. At the moment, the basic State Pension is usually increased annually, by prices. However, the Government has announced that from April 2011 the basic State Pension will be increased every year by the highest of the growth in average earnings, prices, or 2.5% (a ‘triple guarantee’). This only applies to the basic State Pension. Annual increases are not paid to people who get a UK State Pension and who live in certain countries overseas.

State Pension age
The Government is reviewing the current timetable for increasing the State Pension age from 65 to 66. No decision has yet been made as to how this timetable will change. Any change would require the approval of Parliament.

The Government published a call for evidence on 24 June 2010 that ran until 6 August 2010 to inform the decision about when the State Pension age should increase to 66. You can read the proposals at:

Pensions are changing – a resource pack for partner organisations and advisers

DWP has developed a pack below which aims to support any adviser whose customers wish to understand the State Pension reforms and how they may be affected by changes that came into effect on 6 April 2010.

Communicating pensions information to customers – a resource pack for partner organisations and advisers

DWP has developed a resource pack to support partner organisations and advisers whose customers wish to understand their State Pension and get help with planning for retirement. Updated in November 2010, the pack includes eight fact sheets covering:

You can access and download individual fact sheets from the list below.

Welsh versions

Analytical Papers

This Pensions Technical Working Paper explores methods of estimating, and provides quantification of these methodologies, the impact of pensions reform on the UK economy and people's well-being.

The report of the Savings Incentives Work Programme, which looked at the returns which people can expect to get from pension saving under reform, and the impact of policy measures suggested by stakeholders.

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