10 October 2007
In the Pre-Budget Report and Comprehensive Spending Review
Statement 2007 Alistair Darling, the Chancellor, included the
following comments on state pension reform:
"Mr Speaker, next year's rise in the basic state pension and
other benefits will be announced later this month."
"The Pension Credit for older people with just a small pension
of their own will rise by £5 a week from next April - £260 per year
- for a single person; and by £7.65 per week and £397 per year for
a couple - guaranteeing every person over 60 at least £6,450 a
year."
"We will bring forward the start date for flat rating the State
Second Pension to 2009."
HM Revenue & Customs (HMRC) has published Report Notes which
can be viewed here:
http://www.hmrc.gov.uk/pbr2007/notes-pdf.htm
This covers pension issues in the following sections:
- PBRN01 - Changes to State Second Pension (S2P) and Contracting
Out;
- PBRN13 - Spreading of Tax Relief for Employer Pension
Contributions;
- PBRN14 - Pensions: Technical Improvements; and
- PBRN15 - Inheriting Tax-Relieved Pension Savings.
