Lots of Wrinkles in Pension Proposals

The government’s proposals for reform of the state pension are intended to make things simpler, but given the complexity of the current rules, there are many winners and losers from the proposed changes. Already it’s clear that many of those who retire before April 2017 (the start date for the new flat-rate £144 per week OAP) will lose out compared with those who retire later. The proposals have yet to be finalised and this, along with many other anomalies, may be addressed in the next few months.