Council to meet on pension reform

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SENIOR councillors will discuss plans to reform the state pension when they meet tomorrow.

On the agenda is the proposal that, from 2017, those reaching state pension age will receive a weekly, single-tier pension with a starting level of £144 in today’s terms.

This will replace the current two-tier provision of a basic state pension (currently £107.45 per week) together with any state second pension that the person has accrued. To be eligible for the new state pension, an individual will have to have paid National Insurance contributions for a minimum period, probably in the range of seven to 10 years.

A full pension will be available after National Insurance contributions have been paid for 35 years. The council’s decision-making cabinet are to meet in the committee suite at South Shields Town Hall from 4pm.