Pagination issue with paged parameter?

Hi –

I’m using the following chunk of code on my front-page.php file to call out my most recent post titles.

<?php
$paged = (get_query_var('paged')) ? get_query_var('paged') : 1;
$wp_query = new WP_Query('posts_per_page=5&paged='.$paged);
?>
<?php if(have_posts()) : while (have_posts()): the_post(); ?>

	<section <?php post_class(); ?>>
		<h1 class="post-title"><a href="<?php the_permalink(); ?>"><?php echo the_title(); ?></a></h1>
		<h2 class="post-meta">Published on: <?php echo get_the_date('l, F j, Y'); ?></h2>
	</section>

<?php endwhile; else: ?>

	<?php get_template_part('no-results'); ?>

<?php endif; ?>

<?php echo get_previous_posts_link('Newer Posts'); ?>
<?php echo get_next_posts_link('Older Posts'); ?>

However, even though I’m using the paged parameter for my WP_Query, as recommended so many times, this returns the issue of a older posts link that always links to /page/2 with the same content.

Is there something I’m missing here?

Thanks,
Noel