Government eyeing a flat rate state pension system

first_img Government eyeing a flat rate state pension system by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Tags: NULL Britain’s coalition government is working on the introduction of a flat rate state pension, business secretary Vince Cable said yesterday.Cable gave no indication of the overall cost of the proposed reform, which aims to simplify the state pension system, reduce inequalities between men and women and encourage people to save for their pensions by eliminating means testing.“This is a big idea that my colleague, the pensions minister Steve Webb, has been working on and indeed, we worked on it for years in opposition,” Cable told the BBC.“It’s to make sure people can look forward in retirement to a good state pension without means testing. We need something people can rely on,” he said.Cable’s comments were in response to a report claiming the proposal was that pensioners would receive a flat rate of £140 per week from the state, regardless of their wealth or how long they had worked. That would represent a significant increase in what individuals would receive compared with the current system.News of the plan comes days after the government announced a four-year plan of draconian cuts to public spending to help reduce its deficit.“This depends on the state of public finances as to how and when this is phased in,” Cable said. KCS-content whatsapp whatsappcenter_img Share Monday 25 October 2010 8:24 pm Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap last_img