The NAPF has responded to the Government’s Green Paper A State Pension System for the 21st Century. The Green Paper put forward two options for reform of the current state pension system. Option One would accelerate the flat-rating of the State Second Pension while Option Two would combine the Basic State Pension and State Second Pension into one Single Tier pension set around £140 a week.

The NAPF’s response recommends that the Government go ahead with Option Two – the Single Tier pension – and sets out a series of measures the Government should implement to help pension schemes cope with the transition to the new system.