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More than 6 million people aged over 50 have no pension provision in place and look set to rely solely on the state when they stop working, research has found.
The Queen has confirmed the government will introduce legislation to reform public sector pensions, changing the schemes from final salary set ups to career average arrangements.
John Whiting, tax director of the Office of Tax Simplification said taxing the state pension at source is a likely option as government look at ways to streamline the tax system for pensioners.
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Retirement Planner's round-up of the top pension stories this week.
State pension payments will rise to an average of £124 a week, an increase of £6 from last year, the government has said.
A cut to a pension credit which rewards over 65s who have made additional savings for retirement, may mean thousands of pensioners will not benefit from the state pension increase this year.
MPs have rejected calls to reintroduce the retail prices index (RPI) for pensions uprating in a Parliamentary debate.
This year’s retirees will have the lowest pension incomes since 2008, according to research by insurer Prudential.
A woman has been given a prison sentence and forced to pay back her £20,000 retirement nest egg after she was found guilty of benefit fraud.
Deputy Prime Minister Nick Clegg has called for state pension benefits to be means-tested in a move which would see wealthier older people having to pay for certain services currently available to them free of charge.
The House of Lords has rejected an amendment to ensure increases to the state pension age (SPA) do not exceed one year.
The National Pensioners Convention (NPC) will stage a protest in Westminster this week to demand an increase in the basic state pension.
The Pensions Bill which raises the state pension age (SPA) to 66 by 2020 has passed its third reading in the House of Commons with 287 votes to 242.
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