GOVERNMENT proposals to introduce a new flat-rate state pension in April 2017 appear to have been favourably received.

Outlined on Monday by pensions minster Stephen Webb, the new single-tier system would pay a weekly flat-rate of £144 a week, plus inflation rises between now and 2017.

The current full state pension is £107.45 a week, but can be topped up to £142.70 with pension credit, and by the state second pension.

Plans to introduce legislation were announced in 2011 and recognise the fact that people are living longer and that the country cannot afford to continue with the current system.

The aim is to simplify the system by merging the state second pension with the basic state pension to create one flat-rate payment which will enable men and women to build up pensions in their own right.

For full story, see this week's Bordon Herald.