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Government Insists They Will Introduce New Pension Scheme in 2012
18/01/2012
There have been whispers that the new flat-rate state pension of £140 a week is to be pushed aside by the Government and any reform would not take place until 2015 if it was to happen at all. The Right Equity Release could enable you to increase your retirement income by releasing tax-free money from your home whatever your pension is, how much can you borrow use our right equity release calculator.
Plans for any Pension Reform were quickly side-lined by the Government after the high publicity of the private sector pension’s dispute. Despite a long delay from when these plans were first introduced nearly a whole year ago, the Liberal Democrats stay fully dedicated in introducing a new and fair sustainable pension model, as quoted by a spokesman from the Department of work and Pensions. The DWP spokesman also said “This is very important to the entire landscape of pension’s reform, details of the reform are expected this year – perhaps even in time for the May Budget.” The Right Equity Release scheme could help you open up new exciting opportunities or just help with any debts or top up your current retirement income. Request a free call back from a specialist and see if you qualify.
Labours shadow pension’s minister Gregg McClymont seemed concerned last week that any pension reforms were under threat from the Chancellors budgetary pressures. He told Money Management trade magazine, “It appears the £140 a week pension may have been sunk by the Treasury.”
The DWP have played down any ideas of a re-think to the pension reform. Why not give yourself some new ideas in life and see how the right equity release scheme could release you money from your home, use our right equality release calculator and see for yourself.
When the initial Green Paper reform was introduced Mr Webb stated “The current state pension system is dogged by complexity and confusion. I’m proud to bring forward proposals that will end the unfairness inherent in the system and secure a fair, decent and simple state pension fit for the 21st century. These reforms will transform pension saving in this country for millions of people.” Why not transform your income by releasing money tied up in your home, Equity Release could be right for you.
The pensioners of the UK currently receive a basic state pension of £102.15 a week, with our poorest pensioners receiving a top to more than £130 a week. The new pension reform that Mr Webb wants to introduce will eliminate this top up system and give a £140 a week flat-rate pension to those who qualify (which will more than likely be 30 years of National Insurance contributions).
However, people already retired at the time of the reform will unlikely are able to qualify for this and continue to be on the current credit-based top-up system.
Top up your pension and release part of the value of your home and receive a cash lump sum to spend on whatever you wish – The Right Equity Release scheme can help you, arrange a free no obligation meeting or use our Right Equity Release calculator and answer a few simple questions and see how much you could qualify for.
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