Three things we learned this week

Retirement Planner’s round up of the week’s key pension stories

Treasury on public sector pensions: the key points

The Treasury has set out the government's progress on public service pension reform - announcing consultations and plans for talks with unions.

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Govt promises women's state pension fix

Pensions minister Steve Webb has promised that the goverment will create a transitional arrangement for women hit hardest by the rise in the state pension age (SPA).
Plans to raise the SPA to 66 by 2020 have angered women, 500,000 of whom will face up to an extra two years before they can claim their pensions.
In June, Webb said Labour should have tabled amendments to fix the problem, claiming any suggestions from coalition ministers would have unfairly dominated the debate.
However, during Work and Pensions Questions, Webb said coalition ministers will come up with a solution themselves.

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Call to scrap pensions tax relief to boost saving

Replacing tax relief on pensions with a matched savings scheme and setting up a "no-lose lottery" could help plug Britain's savings gap, a think tank said.
The current tax relief system only encourages saving amongst those already inclined to save, the Social Market Foundation (SMF) said in its report Savings on a shoestring: a whole new approach to savings policy.
The report said a matched savings scheme where the state puts in a capped additional amount for every pound paid into a pension would be more progressive than the current system.

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