Introduction
Pensions reform
The Pensions Act 2007 and Pensions Act (Northern Ireland) 2008 introduced changes to the State Pension system. In the main, these changes will only affect you if you reach State Pension age on or after 6 April 2010.
Measures in the Act will, over the coming years, make the state system more generous, fairer to women and carers, and more widely available.
The Act also created the Personal Accounts Delivery Authority to advise on the introduction of a new, simple, low cost pensions savings vehicle.
Find out more about the Pensions Act 2007
Pensions Act 2008
In November 2008 the Pensions Act 2008 introduced measures aimed at encouraging greater private saving. Most of the measures in the Act will come into effect from 2012. Key measures include a duty on employers to automatically enrol all eligible workers into a good quality workplace pension scheme (provided they are not already in such a scheme) and provide a minimum contribution.
The Act also allows for the establishment of a new scheme (currently known as personal accounts) - a simple, low-cost pensions savings vehicle aimed at those currently without access to a workplace pension scheme. In addition the Act will broaden the remit of the Personal Account Delivery Authority giving it powers to enable it to establish the infrastructure for the personal account scheme.
Find out more about the Pensions Act 2008
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