The Government introduced the Pensions Bill to Parliament on 9 May 2013. The reforms to the State pension system are intended to provide a better foundation for saving and ensure the system is sustainable for future generations. As there is a long-standing principle of parity between Northern Ireland and Great Britain in relation to pension matters, it is anticipated that a corresponding Northern Ireland Bill will be introduced in the Assembly early in 2014.
This EQIA focuses on the key proposals which it is anticipated are likely to be contained in any Assembly Bill:
- implementation of a single-tier State pension system from April 2016
- the ending of contracting out
- bringing forward the increase in State pension age to 67
- reforming the Bereavement Benefits system
- Private Pension Reforms