Losers complain about state pension rules

Hundreds of thousands of people retiring after April 2016 will get less than the new flat-rate State pension, says the Times.

Most do not understand why, since the pension statements they get from the Department of Work and Pensions don’t explain. In fact, for the majority of those who get smaller state pensions, the extra pension they get from their employer for the period for which they were ‘contracted out’ of the state scheme will more than make up the deduction. But the rules are complex and are different depending on when and for how long you contracted out.