Pension reform means we must claim all benefits for a minimum income retirement

via JRF - Combined Feed by Katie Schmuecker

The new simplified state pension provides a safety net so that most pensioners should achieve an acceptable standard of living – as long as they claim all the benefits they&rsquo:re entitled to.

Inevitably, much of the comment and discussion of these reforms has turned to winners and losers. But stepping back from this level of detail, Pensions Minister Steve Webb has been on the airways saying this reform will provide a “bare minimum” income for people to live on, for them to top-up with a private pension where they can – something the means-tested pension credit has arguably disincentivised.

So the question is whether the “bare minimum” the government is proposing is adequate to achieve an acceptable standard of living.

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