Using the facility of ‘substitution’ a divorced homemaker, who has never worked, can obtain a state pension, by claiming on her former partner’s National Insurance contributions.
Posts Tagged ‘State Pension’
State pension for divorced spouses from partner’s NI contributions
Friday, March 26th, 2010State Pension changes penalise women
Friday, March 5th, 2010Women turning 60 and claiming their basic state pension before April 6th stand to lose up to £20,000 of retirement income, compared to women turning 60 later this year. New rules that will apply after 6th April significantly relax the requirements to receive the full basic state pension for women.
Basic State Pension no longer meets needs
Wednesday, March 3rd, 2010Are you one of the 27% of people soon to retire, who will rely on the basic state pension as their main means of support? If so, then you could be receiving basic state pension benefits that currently stand at less than £5,000 a year.
Tax matters: HMRC seeks Swiss bank name lists
Thursday, February 18th, 2010
A disk containing 1,500 names of Swiss bank account holders is being sought by Her Majesty’s Revenue Commissioners, to home in on UK citizens who may be guilty of tax evasion.
Still counting on ‘Nanny State’ for a generous state pension? Think again…
Thursday, January 28th, 2010Latest facts released by the pensions industry are revealing some worrying trends with regard to our levels of pension saving … or not saving.
Income drawdown an eye-catching option, as pension age rises
Tuesday, January 19th, 2010
Planned increases in the state pension age are likely to lead many to use income drawdown in their retirement planning, as they seek out ways to tap into their personal pension before they reach state pension age.
Professionals rely on parents’ wealth for their retirement planning
Wednesday, December 16th, 2009Adult professionals are more dependent on their parents for a financial lifeline than ever before, as over half in the age range 35-45 declare they rely on their inheritance to finance their retirement planning. These are the conclusions of the charity Elizabeth Finn Care, which specialises in assisting professional people in need of financial and [...]
Record-keeping and independent tax advice crucial when dealing with HMRC
Friday, December 11th, 2009With an increasing volume of information and advice from HMRC now being offered not face to face, but by telephone, the onus is on the caller to record in writing the tax advice they are given, if they wish to depend on that advice at a later date.
In such situations, problems arise when a taxpayer acts (or refrains from acting) based on undocumented telephone advice, or on their recollection of what HMRC said, according to the Low Incomes Tax Reform Group (LITRG).
New eco-tax on way as Copenhagen hots up for climate week
Thursday, December 3rd, 2009The government has promised a new personal tax to help the environment, in the week when Copenhagen gears up for its international conference on climate change. The new ‘eco-tax’ would aim to vastly reduce the amount of plastic in circulation, by imposing a charge on the use of plastic carrier bags in shops and supermarkets. Despite [...]
Living on the State Pension: your personal wake-up call
Thursday, November 26th, 2009Could you survive on just the basic state pension? The basic state pension currently pays out £95.25 for an individual. This can be supplemented with Pension Credit, which can bring the total up to £130, or £198.45 for a couple. However, Pension Credit is means-tested, in other words, you will not get it if you [...]
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