The government is to raise the Basic State Pension age by 1 year every 5 years, to reach 70 in 2035. Anyone aged 45 or younger will now be unable to take their Basic State Pension until they reach 70.
Posts Tagged ‘Best UK ISA Funds’
Age for Basic State Pension to rise 1 year every 5 years
Friday, June 25th, 2010Pension planning more crucial due to new retirement age
Wednesday, June 23rd, 2010Continue to base your pension planning on retirement at 65, even if you are hoping to work into retirement, says Friends Provident. Health or other issues could well shatter your plans for a longer working life. Click headline to read more.
June 2010 Budget – Principle First’s Budget Roundup
Tuesday, June 22nd, 2010
Chancellor George Osborne called it ‘the unavoidable budget’ but promised there would be no small print in his plan to clear the government’s budget deficit of £155bn over the next 4 years. Here is our summary of the June 2010 budget in easy to read points. Click headline above
Budget Proposals will affect Pensions, Savings and Tax. What's going down on 22nd June ?
Wednesday, June 16th, 2010
Budget proposals for June 22nd include changes to pensions, Income Tax, and Capital Gains Tax. They could also open up valuable investment opportunites in both Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EISs). How will the government cuts affect you? Click this headline to read all about it
Make Pension Planning priority, Parents tell Children
Friday, June 11th, 2010Parents are urging their children to focus on saving rather than property as the mainstay of their pension planning. Aviva has revealed that 76% of parents advise their children that to rely solely on property is ‘too risky’.
Pension income for most is just £8,000 a year
Thursday, June 10th, 2010How do you feel about trading in the national average wage of £24,000 for the pension income of £8,000 that most of us will have, when we retire? Your weekly ‘cash in hand’ at age 65 may fall by over half.
Buy back Time to top up Basic State Pension
Tuesday, June 8th, 2010
Did you know that, with Class 3 contributions, you can buy back and ‘fill in’ missing years of National Insurance contributions, thus increasing the amount of your Basic State Pension when you retire? Just click on the headline, to read more.
Government pension review will add 2.5% to basic state pension
Friday, May 28th, 2010The government pension review confirmed this week will add at least 2.5% to the basic state pension from 2012. This will bring the basic state pension to over £100 per week for a single and £160 for a couple.
State pensions age could be 70, when pensions timebomb blows
Wednesday, May 26th, 2010
State pensions, soon to be re-linked to inflation, are likely to be more generous than before. There will be more pensioners drawing state pensions, but less workers funding each pension. It’s not rocket science. Something’s gotta give. Where will you be, when the pensions timebomb blows?
Pension income will fall short of expectations by £5,000 per year, says AXA
Monday, May 24th, 2010
Many over-45s are deluding themselves about the pension income and lifestyle they will achieve in retirement. For most, their reality will fall short of their hopes by around £5,000 a year, according to AXA.
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