2013 Report details for project: State Pension Reform - Single Tier

Project name: State Pension Reform - Single Tier - there are 2 reports for this project: 2013, 2014
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Organisation: DWP (D10) - see all reports for this organisation
Report year: 2013 (data is from Sept 2012)
Category: Transformation - see all reports for this category
Description: The white paper "The single tier pension; a simple foundation for saving”, impact assessment and draft Bill were published in January 2013 setting out the proposals for state pension reform. The Work and Pensions Select Committee (WPSC) undertook pre-legislative scrutiny of the draft Bill and published their report on 4 April 2013. The committee broadly supported the reforms which will deliver four key outocmes: clarity; a reduction in means testing; a fairer system, appropriate to the lives and employment patterns of today's working-age population; and improved sustainability. The Pensions Bill 2013 was introduced in Parliament on 9 May and the Government responded to WPSC report on 10 May. DWP will work with HMRC to implement the policy intent of a simpler State Pension by: 1) Introducing a single-tier State Pension set above the basic level of means-tested support. 2) Ending the Savings Credit element of Pension Credit for future pensioners. 3) Ending contracting out for Defined Benefit schemes. 4) Modernising the delivery of the Pension Statement service to be digital by default.
DCA (RAG): Amber/Green
DCA text: The white paper was published on 14th January and the Impact Assessment on 18th January. The Pensions Bill was introduced in Parliament on 9 May. The project is at an early stage but on course to deliver on schedule.
Start date: 2012-02-27
End date: 2017-10-31
Schedule text: Project is at an early stage but is still on course to deliver as per schedule.
Baseline: £2.70m
Forecast: £1.12m
Variance: -58.52%
Variance text: The above figures have been superseded by those published in the white paper in January 2013. As part of the Budget, the Chancellor announced that the Single Tier delivery date is to be brought forward to April 2016. The costs at this stage are very high level estimates which will be determined during the project feasibility phase.
Whole Life Cost: £114.16m
WLCost text: The above figures have been superseded by the figures published in the white paper in January 2013. As part of the Budget, the Chancellor announced that the Single Tier delivery date is to be brought forward to April 2016. The costs at this stage are very high level estimates which will be determined during the project feasibility phase.
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Sourcefile: DWP_2013.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.