Policy paper

Single-tier pension: updated impact analysis July 2014

An update of the main impact analysis for the single-tier reforms to bring it in line with the Fiscal Sustainability Report July 2014.

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government



This document updates analysis used in the impact assessment for the single-tier pension published on 14 May 2014.

It brings the analysis into line with the assumptions used in the Office for Budget Responsibility’s (OBR) Fiscal Sustainability Report published on 10 July 2014. That report includes new projections of expenditure on State Pensions and other pensioner benefits.

The single-tier reforms introduce a new flat rate pension for people reaching State Pension age from April 2016 onwards. It is now referred to as the ‘new State Pension’. It is one of the measures included in the Pensions Act 2014.

Published 22 July 2014