Pensions Act 2007 - Framework for further pensions reform in place

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The Pensions Bill received its Royal Assent on the 26 July 2007 and is now the Pensions Act 2007.

The new Act, introduced by the Department for Work and Pensions (DWP), provides the statutory framework to:

• make it easier for a person to qualify for a basic State Pension by reducing to 30 the number of years needed to achieve a full basic State Pension
  
  
• simplify both state and private pensions
  
  
• make the basic State Pension more generous by restoring the link with earnings (by 2012 at the earliest)
  
  
• raise the State Pension age to reflect increasing longevity and to encourage extended working lives.

...UK Payroll News - Latest

Further information:
The Pensions Act 2007

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