The government finally unveiled its plans for the biggest change in state pensions for half a century. From 2017, it will introduce a flat-rate state pension at a rate of £144 per week (with inflation uprating, it will probably be £155 by then) and will abolish a whole range of means-tested benefits as well as top-ups earned from the Second State Pension. Almost everyone who has not already reached retirement age is affected, for better or worse. Clear winners are the self-employed (who never qualified for earnings-related top-ups) and some women. But there are also many losers, especially among those reaching state pension age before the measures take effect in 2017. The measures are hugely complex and it will take months to work out the details of all the winners and losers – but for many, action of some kind will be required. Watch this space.