“Our reforms will usher in a simpler and fairer State Pension. And with Universal Credit, people with multiple, low-paid jobs will also for the first time be able to access the State Pension. “Hundreds of thousands of people will benefit, particularly women who hold down a number of part-time, low-paid jobs, but have previously been prevented from building up a State Pension.”
The press release can be read in full at GOV.UK
DWP NATIONAL INSURANCE CREDITS AND THE SINGLE TIER PENSIONS PAPER
4 July 2013
DWP have recently we published the National Insurance Credits and the single-tier pension paper which provides a useful summary of information about NI credits and provides detail to the current NI system. The paper covers the range of credits that are available and what entitlement they confer. It also goes on to provide detail of how this will changes under Universal Credit which is being gradually rolled out and potential changes under single tier.
The paper is available on GOV.UK National Insurance credits and the single-tier pension
State Pension age rise to be brought forward
5 December 2013
More people will have to work until they are 68 before being entitled to a state pension under plans to be announced by Chancellor George Osborne.
Ahead of the Autumn Statement later this morning, the BBC has reported that Osborne will announce that the date when the State Pension age will rise to 68 will be brought forward to the mid-2030s.
The current State Pension age was set to change from 65 to 68 in 2046.
The pension age could rise again to 69 in the late 2040s, he will add, meaning people now in their 20s may have to work until they are 70.
Moving the change forward will ensure "the country can offer people decent pensions", a government source said.
A new formula will increase the State Pension age to keep pace with increasing life expectancy.
The government will say that people should spend on average no more than one-third of their adult lives in retirement.
The government has already announced the State Pension age will increase to 66 by 2020 and 67 by 2028; these dates will not change.
But it said in a statement: "Under current estimates of life expectancy the principle being confirmed today implies the State Pension age rise to 68 could come forward to the mid- 2030s, from its current date of 2046, rising to 69 by the late 2040s.
CIPP Policy News Journal
16/04/2014, Page 466 of 519
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