People who start work after 6 April 2016 will have the benefit of a much simpler State Pension system. Many of the complexities that exist with the current system will, over time, be consigned to history.
Blog 4 showed how the past changes to the Additional State Pension mean that you could have built up several different parts of State Pension. Your Additional State Pension will depend on a large number of factors.
So far, I’ve just explained how your State Pension builds up at the moment, based on National Insurance (NI) you are paying or credited with this year. But your eventual...
Being “contracted-out” generally means that you are paying lower National Insurance rates than the standard full rate for employees. You will be paying lower National Insurance as you are opted out of State Second Pension (S2P).
I want to try to help you understand how the State Pension works – both under today’s rules and in the future. I will start by explaining the current State...
We pay National Insurance (NI) contributions which means we qualify for certain benefits, including the State Pension. This blog only focusses on the State Pension, but please bear in mind...
It is no secret that I have spent most of my working life in pensions – thinking about them, writing about them, occasionally dreaming about them, and debating how, together, we can make pensions work better for people.