News Analysis: Pension reform concerns experts

Today's announcement of a UK pension legislation reform may have lulled retirees into a false sense ...

Today’s announcement of a UK pension legislation reform may have lulled retirees into a false sense of security, according to Steven Cameron, head of business regulation at Aegon. Cameron is particularly concerned with lack of awareness of changes to the state second pension (S2P), which is to be capped. “Very few people seem aware that, while the basic state pension will be more generous than it otherwise would have been, the state second pension is becoming less generous,” he says. “This means employees paying National Insurance contributions will gradually see their S2P eroded, unt...