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Topic - Two Tier Pension System

mypyrex - on 01 Feb 2013
I know this won't be of any interest to the nippers on here so I'm really hoping for a response from the UKC Old Farts. I have used today's monetary values throughout.

The government intend to bring in a "flat rate" pension of 142pw in 2017 which will be paid to those qualifying for a state pension from 2017 onwards. However, anyone already on a state pension of 107, will apparently continue to receive that amount; thus meaning that one group of pensioners will receive 142 whilst older ones will only receive 107. Is my interpretation correct?
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