Online Parliamentary Yearbook 2012: When you finally retire your income is likely to be made up from a number of sources. Some, such as the basic state pension, are very difficult to defend against change; but a lot can be done to improve others such as your private pension. In aggregate these pots should then lead to a decent retirement.
The government and finance industry are on side for making changes to create fairer retirements, but will always deal with groups in proportion to the pressure they can apply.
Online Parliamentary Yearbook 2012: If S2P is merged as part of the single-tier state pension the option to opt out will have to be removed, otherwise you would have the highly unfair situation where some pensioners are paying more for their state pension than others.
Wait till we hear the screams of protest from all the public servants who are automatially opted out at present and will cease to get the associated 1.4% reduction in contributions when they are automatically opted in under the new scheme. That's £400-£500 additional NI contributions for an average earner.
variety of parliamentary information office review.
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