31
Jul
Happy Birthday?? Pensions are changing
Are you a man born after 6 April 1945 or a woman born after 6
April 1950?
Changes to the State Pension have been announced and if you have
answered “Yes” to the above question, these changes
will affect you.
The first change affects women only. For women born after 6
April 1950 but before 6 April 1959, the State Pension age will
gradually increase to 65, the same as for men. This increase will
happen in stages between 2010 and 2020.
The second change is that, for anyone born on or after 6 April
1959, the State Pension age for both men and women will gradually
increase from 65 to 68 between 2024 and 2046.
So, although the number of qualifying years of national
insurance contributions needed for a full basic State Pension is
reducing to 30 years from 44 years (for people who reach State
retirement age on or after 6 April 2010), you may have to wait
until you reach the age of 68 to take your State pension!
If you need any help or advice regarding these changes, please
do not hesitate to contact us on 01992 444466 or
directors@hbaccountants.co.uk.
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