Government consults on latest pension reforms

Plans have been outlined in a newly published white paper in the wake of recent figures from the Consumer Credit Counselling Service (CCCS) suggesting that the country’s debt management burden is increasingly being shifted to older generations.

The numbers in need of a debt solution rose quicker among those aged over 60 than in any other age bracket last year, the CCCS warned as the government’s pension reform efforts go on.

Minister for pensions reform James Purnell remarked that: “The International Monetary Fund recently welcomed our reform package, saying it would help to ensure both adequate saving for retirement and fiscal sustainability.”

A report form the CCCS published in January of this year claimed there are thousands of females across the UK not going bankrupt, despite “best advice”, for fear of the social stigma associated with taking such as decision.