Changes to State Pensions from April 2010

Monday, April 5th, 2010

There are two main changes to State Pensions that are taking place from this month.

1 – Qualification

To qualify for a full State Pension, men used to need 44 years of National Insurance Contributions and women 39 years.  From now on you will only need 30 qualifying years of National Insurance contributions.

From now on a single qualifying year of National Insurance contributions will provide entitlement of at least some basic State Pension.

People of 55 or full-time carers should establish how this might affect them now.

2 – Retirement Age

State Pension Age used to be 65, for men born before 6 April 1959 and 60 for women born before 5 April 1950.

Between 2010 and 2020 the State Pension Age for women will now increase gradually to 65 if born on or after 6 April 1950.

From 6 April 2020 the State Pension Age will be 65 for both men and women.

Between 2024 and 2046 the State Pension Age will be gradually increases for both men and women.  Between April 2024 and April 2026 the State Pension Age will increase from 65 to 66.  Between April 2034 and April 2036 the State Pension Age will increase from 66 to 67.  Between April 2044 and April 2046 the State Pension Age will increase from 67 to 68.

The age that you can claim a State Pension will be determined by when a person was born.

A State Pension Calculator can be found at:

http://pensions.direct.gov.uk/en/state-pension-age-calculator/home.asp

JCM/10/04/05

Tags: national insurance, pension age, qualifying years, retirement, state pension, state pension calendar
Posted in Pensions | No Comments »