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News Wire / politics

UK Proposes Lifespan App To Replace State Pension

BBC Radio 4 London 13d13d Impact 5
A proposal has been made to replace the current state pension with a 'Life Span Fund' model. Proponents claim the fund would be fairer and more affordable by replacing the triple lock with a smoothed earnings link.

Topics

pension reform social security

Developing

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Sources · 7 independent

BBC Radio 4

“we're proposing replacing the state pension with what we call the Life Span Fund, which is a more flexible model of income support built for these longer and more fluid lives.”

BBC Radio 4

“we'd replace the triple lock with a smooth Dirlings link. And by capping support of the equivalent of 20 years of the current state pension on average, it would reduce costs.”

LBC London

“a fund as the Tony Blair Institute is suggesting that we all or most of us pay into and that would subsequently pay for our state pensions?”

BBC Radio 4

“The way we get around that with our proposal is partly to make the system far more accessible through a simple lifespan app”

BBC Radio 4

“The way we get around that with our proposal is partly to make the system far more accessible through a simple lifespan app, which we've designed and show off in our research.”

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