Basic State Pension

To help boost the State pension, in 2003 the Government introduced means-tested benefits to pensioners. There are two parts to pension credit. The Guarantee Credit is designed to ensure that pensioners aged over 60 receive a minimum amount of income. The Savings Credit is meant to act as a reward for those people aged over

This refers to the expected retirement age for a member of an occupational pension scheme. The normal retirement date is usually set out in the scheme’s rules. The usual retirement age for men is between 60 and 70 and between 55 and 70 for women. For individuals with a personal pension plan the normal retirement

Some people have opted out of the State Additional Pension (S2P) or the previous State Earnings Related Pension Scheme (SERPS). Instead they are building up these benefits in their own pension fund – be it a personal pension plan or an occupational pension scheme. In April 2012 the contracting out rules changes for people who

The basic State Pension is the benefit provided to everyone that has made sufficient National Insurance Contribution. It is available once the individual reaches the State pensionable age and is not earnings related. The State pension is made up from both the Basic State Pension and the State Second Pension. Individuals with less than 30

A survey early this year found that around one in five people intended to live on just the State pension in retirement.*  Unfortunately, few people realise just how little they will get from the State. As of April 2010 a full basic weekly State pension will be just £97.65 for a single person and £156.15

Pensions are designed to provide income to live in retirement. There are state sponsored schemes which offer limited income and a host of private schemes facilitating investors to increase their retirement income. Most people should consider options to top up ther retirement income above and beyond the state pension that they will receive. Types of

The value of your pension at retirement will depend on your contribution amounts, how long you have been contributing, the performance of the funds, and the charges and fees that have been applied. When you go through a pension review/transfer process an IFA will normally contact your pension provider on your behalf to get a

Your pension income will be a sum of your state pension and the income from your private/occupational pensions. The state pension when you retire will depend on the financial situation of the country at the time. There are Government talks at the moment about a rate of £140 a week, but your pension will be

For many people, especially those that are a long way from retirement, pension planning is dropped down the priority pecking order in favour of a new car, holiday, or bigger mortgage. It is hard these days to find spare cash for saving for anything, no matter for a time decades in the future. The truth

The basic state pension from April 2009 is £95.25 per week for a single person, or £152.30 per week for a married couple. These rates are increased from April 2010 to £97.65 and £156.15 per week, respectively. These amounts represent the maximum basic state pension that can be achieved. The amounts are based on having