The Government has confirmed plans to merge the basic and second state pensions.

It will move to a single-tier pension, based on contributions. This will be roughly 140 a week, in today's money.

The basic state pension is currently 102.15 a week. The second state pension is hugely complicated and depends on the amount of national insurance you've paid.

No timetable was given for this new pension system, though it's likely to be years away.

The Chancellor announced that next month the basic state pension for a single person will rise by 5.30 a week to 107.45, as expected.