Bringing forward the raising of the state pension age to 66, rules for automatic enrolment into workplace pensions and changing the inflation measure for state and public service pensions were outlined in the Pensions Bill 2011.

* The Pensions Bill 2011 proposed an amendment to the timetable for the increase to 66, so that state pension age will increase from 65 to 66 between 2018 and 2020.

* The increase in state pension age to 66 must be applied to both men and women, to comply with the European Union directive that requires equal treatment of men and women in social security matters.

* To enable the increase to 66 to be implemented from 2018, the bill proposed an amendment to the timetable for equalising women’s state pension age with men’s so that women’s state pension age increases more quickly from 2016 to reach 65 by 2018.

* Auto-enrolment measures were outlined to ease the burden on employers and industry whilst maintaining the key aim of ensuring individuals are able to save for their retirement.

* Change to using consumer price index (CPI) from the retail price index (RPI) as the inflation measure for revaluation and indexation of occupational pensions was proposed.

To read more about the Pensions Bill 2011 click here.

• Latest Regulation Papers
• News and Analysis