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Pensions overhaul unveiled tomorrow

Pensions overhaul unveiled tomorrow
Danny Alexander has confirmed that the Coalition's single tier pension policy will be unveiled tomorrow.

Ministers will outline plans to introduce a single payment of around £144 to everyone who has worked at least ten years, in the biggest pension shake-up for decades.

Speaking to Sky News, the Chief Secretary to the Treasury said the changes would fix "some of the big problems" in the current system.

The changes mean stay-at-home mothers and millions of self-employed workers will no longer receive a smaller state pension.

"Women will no longer be punished for looking after their children," a government source told the Sunday Telegraph.

Mr Alexander also announced plans to increase support for childcare and help parents get back to work.

The Lib Dem said ministers will soon set out proposals to help parents with the "crippling costs" of care. 

"We’re going to set out a new system of support for childcare to ensure that people who want to go back to work have the support to do so," he said. 

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On air

Danny Alexander: New parents hit with crippling care costs

13/01/2013 on Murnaghan, Sky News