- During the next parliament, the state pension will be made more generous, and future increases will be tied to earnings rather than prices
- The number of years it takes for people to qualify for a full basic state pension will be cut to just 30
- From 2012, people will be automatically enrolled into a new, low-cost national savings scheme, albeit with the chance to opt out if it is not suitable for them.
In addition to the complete White Paper, online resources include an Executive Summary and Secretary of State for Work and Pensions, John Hutton’s Oral Statement to the House of Commons.
Source: Department for Work and Pensions Press Release (May 25, 2006)