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Pension Age Increase for Women
Women born on or before 6th April 1950 will not be
affected, because mathematically they will slot into the new age
increases. (They will have a 'state pension rights' age during the
years 2010 and 2020).
Women born between the years of 6th April 1950 and
5th April 1955, will have a State Pension age between the
years they are 60 and 65 - ie the 'increase' years of 2010 and 2020.
Women born or or after April 6th 1959, will have
to reach 65 under the new scheme before thy are entitled to state
Pension.
After the year 2024, the state pension age is set
to increase for men and women up to the age of 68. This will be
phased in over 22 years - reaching conclusion during 2046!
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No longer is it called the Retirement Pension, for
the government hopes that most will continue to work well after
their normal retirement ages of the past! In reality, most will have
to work beyond their normally retirement age in order to live a
comfortable life. thankfully. more opportunities are being made
available for people to work beyond their normal retirement. |
What else should I know? More follows
about the Pensions Reform Bill - watch this space!
How do you get State Pension?
The most important thing is, that you should have
reached Sate Pension Age. It does not matter if you are retired from
work or not. Once you have reached the proper age for State Pension,
then you are ready to claim for it.
If you, or your partner/husband/wife have paid NI
contributions, you 'may' be entitled to state Pension.
So, if you are the right age - see above - and NI
contributions have been paid or credited for/by you or your partner,
then you can go to the next stage.
The Basic State Pension is
not something that you automatically get. In fact, many are often
disappointed to find that they do not get the full basic pension for
some reason or other - usually a lack of sufficient NI contributions
at some time in your life.
You have to have a certain number of
'qualifying years' of paying NI contributions during your working
life. It may be possible also that you have been credited with NI
contributions without actually paying them at some point.
Whilst you may think that you have
'worked' all of your life, the Pensions service has a definition of
'working life'. Nothing to worry about, they just like to make
things sound complicated.
Your Working Life is normally as
follows - providing you have met the NI contributions
conditions.......
The different
age ranges for women, take into account the new extended ages before
pension is available - ie 65 in 2020. For instance in the table
below, the woman having to work for 47 years, will be one who was
age 16 or thereabouts in 1968. So she will be entitled to state
pension when she is 63 years old. This is just a simple explanation
of the new system of bringing the pension age into line with men -
explained earlier .
Working Life for women will be ......
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44 years for women born on or before 5 October 1950
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45 years for women born on 6 October 1950 or on any day through to
and including 5 October 1951
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46 years for women born on 6 October 1951 or on any day through to
and including 5 October 1952
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47 years for women born on 6 October 1952 or on any day through to
and including 5 October 1953
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48 years for women born on 6 October 1953 or on any day through to
and including 5 October 1954
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49 years for women born on 6 October 1954 or later
The Next Question is normally -
How Much Do I get?
This is a seemingly simple question.
The answer often caused stress and anxiety, but there is a
relatively easy way to find out - of which, more later.
From the 9th April 2008, the basic
state pension is £90.70. - if it is based upon your own, or your
late husband, wife or partner's NI contributions.
Based just upon your late husband's
NI contributions alone, it is £54.35
A Non-contributory Over 80's person
pension is £54.35 there is an age addition of £0.25.
All of these are reviewed and uprated
in April each year. If you live in certain countries abroad, this
uprating might not be applicable.
If you find
yourself at the lower end of the Pension Payment scale, do not
worry! This is where the pensions Credit scheme comes into
action, to help you get more - a basic minimum of £124.05 - maybe
more.<<
SEE THIS>>
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