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Finance

State pension calculator shows when you can get it and the amount

As the cost of living crisis continues, many older Britons approaching retirement may want to double check when they will start to receive this cash boost in order to plan for their future. State pension age needs to be reached to be able to get the state pension, but this threshold is currently rising. The […]

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Finance

State pension warning – 500,000 Britons miss out on benefit

While the state pension will receive a 10.1 percent boost, over 500,000 people are set to miss out on any rise at all. State pension increases are only permitted if a person lives in certain places. Expats who reside in certain countries see their state pension payments frozen instead of receiving the same increases that […]

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Finance

‘You’ll be next’ – Waspi woman issues state pension age warning

Waspi stands for Women Against State Pension Injustice, and represents around 3.8 million women born in the 1950s who were hit by moves to bring the state pension age into line with men.  Campaigners say this cost them up to £50,000 in lost pension, as they were forced to work on for five or six […]

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Finance

Changes to state pension age increase – full details

The shift to the later state pension age will happen in stages with the move from 66 to 67 brought forward by eight years. The move to 67 is currently set to take place between 2026 and 2028 while the move to 68 will take place between 2044 and 2046. Legislation has also changed the […]

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Finance

‘Could save thousands’ – Just six days to claim annual pension

The annual deadline for completing a self-assessment tax return is exactly one week away so this is the last chance to avoid a fine from HMRC for late filing and claim valuable tax relief on pension contributions. All returns must be submitted by midnight on Wednesday January 31, with around 12 million in total needing […]

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Finance

State pension age hike may create ‘misery and poverty’ for

The state pension age is currently 66, and will rise to 67 and subsequently 68 in future, impacting millions of Britons. Currently, a state pension age review is considering the speed at which these increases should be implemented, and whether present rules are appropriate. However, Age UK has warned a rising state pension age could spell trouble […]

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Finance

State pension age ‘to be hiked’ as millions will work longer

One expert recently said the state pension age increase would have to be accelerated due to financial worries for the Government. Steven Cameron, pensions director at Aegon, said: “The Government will shortly publish findings of its review into state pension age. “There’s a strong likelihood that on affordability grounds, this will have to increase beyond age 67, earlier than currently […]

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Finance

France protests state pension increase but UK to wait even longer

Tom Selby, the head of retirement policy at AJ Bell, explained: “No country has experienced quite as much controversy over state pension reform as France, with the Government previously reluctant to push through change for fear of sparking mass protests. “Indeed, pensions were part of the reason we saw the angry ‘Gilet Jaunes’ demonstrations in […]

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Finance

700,000 people may be due state pension backpay after DWP error

A payment issue, impacting mostly women, means many people are thought to have been underpaid their state pension. The problem relates mostly to the older state pension scheme known as the basic state pension. As part of this, women were able to claim a state pension based on the National Insurance record of their husband, deceased […]

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Finance

State pension age is changing but you can check when you can

Clive Bolton, Managing Director of Protection, Savings & Retirement at LV=, said: “Planning for retirement can be complex but it is important to get right. People approaching retirement need to take some time to think about what they want to do when they eventually stop work, the lifestyle they want and how much it will […]