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Pensions minister Steve Webb revealed the plan to cut the rate in a written ministerial statement
Benefit from pension delay to fall

People who delay their state pension from 2016 are to see the amount of extra benefit from doing so become less generous under new proposals.

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msn money poll

Do you support the new banking inquiry?

Thanks for being one of the first people to vote. Results will be available soon. Check for results

    20 %
    Yes, I think the Big Four are too powerful and resistant to change
    1,526 votes
  2. 80 %
    No, I don’t believe it will result in real change that will benefit the consumer
    6,058 votes

Total Responses: 7,584
Not scientifically valid. Results are updated every minute.