David Ward welcomes pension increase
Bradford MP, David Ward, says proposals will make pensions "fairer and simpler"
The Liberal Democrat Pensions Minister, Steve Webb, has announced a consultation on a new 'Citizen's Pension' which would see all new pensioners receiving a flat rate pension of at least £140 a week.
The current full state pension is £97.65 a week, which can be topped up with pension credit to £132.60.
The public consultation runs until 24 June this year.
Commenting, David Ward said:
"This is fantastic news for future pensioners. Our current system is too complicated and discourages people from saving.
A straight-forward payment of at least £140 a week guarantees a decent minimum income for everyone. Mothers who take time off work would not be penalised and savers would be rewarded.
I fully support the Coalition's commitment to making pensions fairer and simpler for the next generation of pensioners."