Commenting on the delay to the full roll-out of the Personal Accounts scheme until 2017, Andrew Harrop, Head of Public Policy at Age Concern and Help the Aged, said:

‘The delay in implementing personal accounts follows signals that the restoration of the link between the Basic State Pension and earnings will also be delayed. This will be yet another setback to older people, many of whom have already seen their pension savings eroded by the recession. The hard-won pensions settlement is in danger of unravelling at the expense of the poorest pensioners.’