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.
The bill includes plans to introduce auto-enrolment from 2012 and cut pensions for judges. This reading of the bill included the government's compromise amendment which delayed the raising of the SPA by six months compared to its original plan. Women in their fifties will now wait up to a further 18 months for their state pensions, instead of two years under the original proposals. Labour work and pensions secretary Stephen Timms said the reform is still unfair to women. Iain Duncan Smith, work and pensions secretary, defended auto-enrolment against MPs afraid it will harm economic...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes