News: Large-scale pension reforms loom

The government has announced that the state pension age for both men and women will increase to 66 in 2020. The coalition also declared that, as planned by the previous Labour administration, staff from ages 22 to state retirement age who earn over £7,475 will have to be enrolled into their employers' corporate pension schemes. The plan will be rolled out from October 2012 to September 2016.

Companies are expected to contribute based on the difference between an employee's salary and the