Sunday, January 24, 2021
  • About
  • Advertise
  • Careers
  • Contact
Pension Changes
  • Home
  • Government Policy
  • Pension Changes
  • Pension Information
  • Pension Rights
  • Retirement Pension
No Result
View All Result
Pension Changes
Home Pension Changes

State pension rules change – a guide as government sets new cap on how much they pay out per week

July 7, 2020
in Pension Changes
State pension rules change – a guide as government sets new cap on how much they pay out per week
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Related posts

State pension changes to give hundreds of thousands huge boost in retirement savings | Personal Finance | Finance

State pension changes to give hundreds of thousands huge boost in retirement savings | Personal Finance | Finance

January 14, 2021
Biden touts gender parity and diversity of his Cabinet

Biden touts gender parity and diversity of his Cabinet

January 12, 2021

The Government has changes it rules on state pensions – with a new maximum on how much they pay out per week.

A state pension is issued to a person who has retired from their employment – but the amount a person receives depends on a number of factors.

Granted by the Government, people on the new state pension must have retired on or after April 6, 2016.

The Government has changes it rules on state pensions – with a new maximum on how much they pay out per week
Read More
Related Articles
Read More
Related Articles

These people could receive a maximum of £175.20 per week for a minimum 10 years in National Insurance contributions.

On the old State Pension, the maximum a pensioner can expect to receive is £134.25 per week, with 30 years or more in NI contributions.

The government has been implementing a number of state pension changes over the past few years and months – and the penultimate change took place on Monday, July 6, reports The Express.

From December 2018, the State Pension age for both men and women has been increasing to 66.

The government aims for this goal to be fully in place by October 2020, but has a few more changes to make.

Anyone who was born between August 6, 1954 and September 5, 1954 will see their entitlement age increase from 65 to 66 from this week.

A state pension is issued to a person who has retired from their employment – but the amount a person receives depends on a number of factors

One more change is due to take place in September – so it is important for those close to this age bracket to stay vigilant.

The government has outlined its reasons for the State Pension age change, and further changes are scheduled to occur in the future.

It says the increase is in line with higher life expectancy in the UK.

Britons are now spending a larger proportion of their adult lives in retirement than ever before, and so the government says it is making adjustments to take this into account.

A review undertaken in the last few years saw the government announce plans to bring its State Pension age timetable forward.

The government aims for this goal to be fully in place by October 2020, but has a few more changes to make

Consequently, the State Pension age is set to increase to 68 between 2037 and 2039.

This means larger proportions of the population will be required to work for longer until reaching entitlement to State Pension.

By logging onto a portal, accessible through the government website, Britons will be able to use a calculator which provides details concerning entitlement.

This aims to clear up any confusion for someone who is not sure if the changes are affecting them.

If a person enters their date of birth and gender, the State Pension tool will reveal the age at which they could be set to retire.

It can also provide people with additional help as to how to maximise their State Pension sum.

-- to www.grimsbytelegraph.co.uk

Previous Post

How to Build a Tax-Free Pension

Next Post

Will I Get Spousal Benefits In Addition To My Social Security Retirement Benefits?

Next Post
Will I Get Spousal Benefits In Addition To My Social Security Retirement Benefits?

Will I Get Spousal Benefits In Addition To My Social Security Retirement Benefits?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Quickie divorce reforms risk long-term problems for women

Quickie divorce reforms risk long-term problems for women

8 months ago

Time for ‘auto-enrolment 2.0’? – FTAdviser.com

4 weeks ago
Coronavirus lockdown money-saving plan that could put families at risk of ruin

Coronavirus lockdown money-saving plan that could put families at risk of ruin

10 months ago
Which are the seven most ‘under-pensioned’ groups in the UK?

Which are the seven most ‘under-pensioned’ groups in the UK?

2 months ago

FOLLOW US

  • 79 Followers
  • 27.6k Followers
  • 40.7k Subscribers

BROWSE BY CATEGORIES

  • Government Pension Policy
  • Pension Changes
  • Pension Information
  • Pension Policy
  • Pension Rights
  • Retirement Pension
  • Uncategorized

BROWSE BY TOPICS

2021 2021 Pensions auto-enrolment age 18 auto enrolment pension contributions 2021/22 auto enrolment rates 2020/21 auto enrolment rates 2021/22 cashing in pension at 55 cashing in pension calculator cashing in small pension pots CCP retirement check my state pension Disabled pensions drawdown employer pension contributions 2021/22 government policy examples uk list of government policies uk minimum pension contributions 2021 minimum pension contributions 2022 new state pension Pension age pension issues pension ombudsman pension plan pension regulator Pensions Advisory Service Pensions Brexit pension scheme uk Pensions outlook retirement 2 million scams scheme funding Single mothers pensions State Pension State Pension age state pension changes state pension forecast State Pensions State triple lock taking pension at 55 the pensions regulator Therese Coffey uk pension age UK State Pension uk state pension age what is government policy uk

POPULAR NEWS

  • Multiemployer pension reform not happening this year

    Multiemployer pension reform not happening this year

    5 shares
    Share 0 Tweet 0
  • Exit payment cap: Implications for the LGPS

    0 shares
    Share 0 Tweet 0
  • Public Service Pensions Update | October 2020

    0 shares
    Share 0 Tweet 0
  • NEST: More than a pension | Country Report

    0 shares
    Share 0 Tweet 0
  • Builders were not self-employed, rules employment tribunal

    0 shares
    Share 0 Tweet 0

Follow us on social media:

Recent News

  • Don’t believe the pension poppycock … it’s a divide-and-conquer strategy.
  • Small pots working group report
  • Affordability checks could drive punters away from racing says bettors’ forum | Horse Racing News

Category

  • Government Pension Policy
  • Pension Changes
  • Pension Information
  • Pension Policy
  • Pension Rights
  • Retirement Pension
  • Uncategorized

Recent News

Don’t believe the pension poppycock … it’s a divide-and-conquer strategy.

Don’t believe the pension poppycock … it’s a divide-and-conquer strategy.

January 24, 2021
Guaranteed Minimum Pension (GMP) equalisation newsletter – July 2020

Small pots working group report

January 24, 2021
  • About
  • Advertise
  • Careers
  • Contact

© 2020 Please contact us on partnership@pensionchanges.co.uk if you would like to reach our audience.

No Result
View All Result
  • Home

© 2020 Please contact us on partnership@pensionchanges.co.uk if you would like to reach our audience.