Changes to UK State Pension Age brought foward

[Andrew from Vista Financial]

The UK Government has announced yesterday in it's spending review some extra changes to the age at which people can start to draw on their state pension (known as SPA).

 

See the New changes below:

• New! Between April 2010 and November 2018, women's retirement ages are increasing to 65. There will be an accelerated increase between April 2016 and November 2018.
  
• New! Between December 2018 and April 2020, retirement ages for men and women are increasing to 66.
  
• Between April 2034 and April 2036, retirement ages for men and women are increasing to 67.
  
• Between April 2044 and April 2046, retirement ages for men and women are increasing to 68.
  

Here's the link for more info State Pension Age Calculator - The Pensions Advisory Service (TPAS)

 

 

Regards

 

Andy

[Rob and Mel]

Looks like i might never get mine then!!

 

Cheers Andy

[Guest WhatNow?]

One of the few times I feel glad to born a long time ago!

[Dawn]

not good news - but thanks for the update

[Guest nicandchris]

Good God im going to be 67 years of age before i can retire and Chris will be able to retire when he's 66 ummm something wrong with that!

[Guest Mark Xpnsit]

Is anyone in Oz still paying their national insurance contributions or do you just pay in to super now?

[Guest Nick11]

I'm not holding my breath!!!!

By the time we reach retirement the country will be so bankrupt..they will be passing new laws to save money....I reckon they'll scrap pensions to anyone living outside the uk.

I can honestly see it coming.

[Guest WhatNow?]

Hmmm...good news as this is for those who may be eligible to draw their UK state pensions in the next few years, I daresay this makes it even more unlikely they will agree to unfreeze the state pension for UK pensioners already drawing it in Australia.

 

The £140 pension for all: Huge boost for stay-at-home mums and married couples in historic shake-up | Mail Online

[Guest Peachie]

Is anyone in Oz still paying their national insurance contributions or do you just pay in to super now?

 

 

 

 

I did a pension forcast before leaving uk and found I had 21 out of 30 years in the state scheme I have been thinking about topping it up but think that the rules will change and anyone outside of the uk may miss after all are we still able to vote so do we matter to the uk goverment?????

[Guest WhatNow?]

I did a pension forcast before leaving uk and found I had 21 out of 30 years in the state scheme I have been thinking about topping it up but think that the rules will change and anyone outside of the uk may miss after all are we still able to vote so do we matter to the uk goverment?????

 

 

IF (and it's a big IF!) the rules do change along the lines of the new proposal, the number of contributing years will be irrelevant and all that will matter is how long you were resident in the UK, so you may find it works out better for you. I won't hold my breath but I will certainly be watching the situation. I can't really see them denying the pension completely to non-UK residents at any time soon, as there would be massive legal ramifications arising from such an attempt. The main issue I think will be how much you will get and if these changes go ahead, whether it will apply to all pensioners and not just those currently resident in the UK - the article does seem to imply that that is the intention. I wonder how they will deal with all the ex-pats who are receiving the fixed pension already?

 

Perhaps Andrew (Williams) would care to comment, if he has read the article?

[Diane]

are we still able to vote so do we matter to the uk goverment?????

 

Yes, we are still able to vote in some UK Elections - see here: British citizens living abroad - About my vote, produced by The Electoral Commission

 

Whether we matter or not is a quite different question!!!!!

[Guest Nick11]

Read on bbc website today that government is thinking of introducing a flat rate pension that requires British residency.

You don't have to be a financial guru to see what is coming!!!!!!!

[Guest WhatNow?]

Read on bbc website today that government is thinking of introducing a flat rate pension that requires British residency.

You don't have to be a financial guru to see what is coming!!!!!!!

 

 

£140 pension for all: Boost for stay-at-home mums and married couples | Mail Online

 

The 'residency requirement' is to do with the length of time you have to have lived in the UK before you can draw a pension, which is intended to replace the 'qualifying years of full NI payments'. Previously this meant that mums who stayed at home and made no NI contrbutions for several years would not get a full state pension. It's also a way of cutting the administration costs of all the means testing that goes on with the Pension Credit the way it works now. It doesn't have anything to do with you having to live in the UK when you draw your pension.

[Guest Nick11]

It's only a matter of time before the government scrap it.

Ageing population..not enough workers contributing to the kitty...the whole pension system in melt down..who are they going to look to first? Non uk residents.