 | BBC Radio 4's Money Box Live Wednesday, 15 December 2010 at 1502 GMT on Radio 4 and Online |
The rules about how we build up our pension funds and when and how we are allowed access to them is changing. Minister for Pensions Steve Webb has announced that the basic state pension will increase to £102.15 in April. But you may receive your state pension later than expected since October's Spending Review brought forward the rise in the state pension age to 66 for men and women by 2020. Steve Webb also moved away from forcing company pension schemes to use the Consumer Prices Index rather than the Retail Prices Index to uprate pensions. The rules about purchasing annuities are also changing and next year will see the introduction of auto-enrolment into workplace pensions or NEST (the National Employment Savings Trust). When will you receive your state pension? Are you entitled to pension credit? Perhaps you have a question about NEST (the National Employment Savings Trust) What are the new rules about annuities? How much can you save into a personal pension? Vincent Duggleby was joined by: • Stuart Bayliss, company director, Annuity Exchange • Malcolm McLean, pensions consultant, Barnett Waddingham • Tom McPhail, head of pensions research, Hargreaves Lansdown Presenter: Vincent Duggleby
Producers: Lesley McAlpine
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