Women approaching retirement and the self-employed to gain from single-tier pension reforms, employees in their thirties to lose

From 2016 the existing two part state pension system is to be replaced by a new single-tier system. The new state pension is expected to be set at around £146 per week; restoring the state pension to the same level of generosity relative to average earnings as it was in the early 1970s. A new report published today by researchers at the IFS, funded by the Joseph Rowntree Foundation (JRF), examines how the proposed reforms affect different types of individuals and contrasts the short- and long- term effects of the proposed reforms which are found to differ dramatically.