David Cameron PM speaks at SAGA in Hastings

The video discusses the drawbacks of private pensions, where savings can reduce pension credit. It highlights the psychological impact of discouraging savings. From April 2016, a new single tier pension system was introduced, eliminating means testing and ensuring a decent pension for all contributors. This reform benefits those with unrecognized contributions, like parents or part-time workers, by counting all years as full contributions, providing a flat-rate pension.

Explain how the new pension system addresses the issue of means testing.

What is the significance of the flat rate decent state pension introduced in the new system?