Latest news with #PensionsAct2007
Daily Record
12-05-2025
- Politics
- Daily Record
New calls to give State Pension payments ‘immediately' to disabled people over 60
An online petition is calling on the UK Government to change State Pension eligibility rules. A new online petition is urging the UK Government to give older people on disability benefits early access to their State Pension. The State Pension age is currently 66 for both men and women, but is set to rise to 67 between 2026 and 2028. Petition creator George Bolgar has put forward a proposal that every person over 60 with a disability 'who has been unemployed for at least five years should be given the choice to retire and claim the State Pension immediately'. The 'allow elderly disabled people to claim the State Pension early' petition has been posted on the Petitions Parliament website. At 10,000 signatures of support it would be entitled to a written response from the UK Government, at 100,000, it would be considered by the Petitions Committee for debate in Parliament. The petition states: 'We think that any disabled person aged 60 who has been unemployed for at least five years should be given the choice to retire and claim the State Pension immediately. 'We think that keeping people on the Department for Work and Pensions (DWP) unemployment list when there is no chance of them ever becoming employed again is extra work for the DWP and extra stress for the disabled person. 'We think that once someone is above 60 years old and unemployed their likelihood of being employable is extremely reduced.' State Pension age rise The State Pension age is set to start rising from 66 to 67 next year, with the increase due to be completed for all men and women across the UK by 2028. The planned change to the official age of retirement has been in legislation since 2014 with a further rise from 67 to 68 set to be implemented between 2044 and 2046. The Pensions Act 2014 brought the increase in the State Pension age from 66 to 67 forward by eight years. The UK Government also changed the way in which the increase in State Pension age is phased so rather than reaching State Pension age on a specific date, people born between March 6, 1961 and April 5, 1977 will be able to claim the State Pension once they reach 67. It's important to be aware of these upcoming changes now, especially if you have a retirement plan in place. Everyone affected by changes to their State Pension age will receive a letter from the DWP well in advance. Under the Pensions Act 2007 the State Pension age for men and women will increase from 67 to 68 between 2044 and 2046. The Pensions Act 2014 provides for a regular review of the State Pension age, at least once every five years. The review will be based around the idea people should be able to spend a certain proportion of their adult life drawing a State Pension. A review of the planned rise to 68 is due before the end of this decade and had originally been scheduled by the then Conservative government to take place two years after the general election - which would have been 2026. Any review of the State Pension age will take into account life expectancy along with a range of other factors relevant to setting the State Pension age. After the review has reported, the UK Government may then choose to bring forward changes to the State Pension age. However, any proposals would have to go through Parliament before becoming law. Check your State Pension age online Your State Pension age is the earliest age you can start receiving your State Pension. It may be different to the age you can get a workplace or personal pension. Anyone of any age can use the online tool at to check their State Pension age, which can be an essential part of planning your retirement. You can use the State Pension age tool to check: When you will reach State Pension age Your Pension Credit qualifying age When you will be eligible for free bus travel - this is at age 60 in Scotland Check your State Pension age online here.
North Wales Live
11-05-2025
- Business
- North Wales Live
State pension age to increase in 2026 - what you need to know
The State Pension age in the UK is set to increase from 66 to 67 starting next year, with the rise expected to be fully implemented for both genders by 2028. This adjustment to the official retirement age has been part of UK legislation since 2014, and a subsequent increase from 67 to 68 is planned to take place between 2044 and 2046. The Pensions Act of 2014 accelerated the increase of the State Pension age from 66 to 67 by eight years. The UK Government also modified the phasing of the State Pension age increase, meaning that instead of reaching State Pension age on a specific date, individuals born between March 6, 1961, and April 5, 1977 will be eligible to claim the State Pension once they turn 67. It's crucial to keep up-to-date with these upcoming changes, especially if you have a retirement plan in place. All those affected by changes to their State Pension age will receive an advance notification letter from the Department for Work and Pensions (DWP). As per the Pensions Act 2007, the State Pension age for both men and women will see another rise from 67 to 68 between 2044 and 2046. The Pensions Act 2014 mandates a regular review of the State Pension age at least every five years. These reviews will follow the principle that individuals should spend a certain proportion of their adult life receiving a State Pension, reports Wales Online. The UK's state pension age is due for a review before the end of this decade. Originally, the Conservative government had planned this review for two years post the general election, which would have been in 2026. The review will consider factors such as life expectancy when deciding on the State Pension age. Following the review, the UK Government may decide to adjust the State Pension age. However, any proposed changes must be approved by parliament before they can be implemented into law. This is the earliest age at which you can start receiving your State Pension, which may not be the same as the age at which you can access a workplace or personal pension. In terms of increasing State Pension payments, HM Revenue and Customs (HMRC) recently revealed that over 10,000 payments totalling £12.5 million have been made through the new digital service to boost State Pensions since it was launched last year. However, those looking to maximise their retirement income through the contributory benefit only have a few weeks left to fill any gaps in their National Insurance (NI) records dating back to 2006. The duration for making voluntary National Insurance contributions has been significantly increased beyond the usual six-year limit. The past administration extended the period to allow backdated payments from April 6, 2006, to April 5, 2018, and now, under the new State Pension rules, up to April 5, 2025. This gives individuals additional time to assess their situation and contribute further if needed. Those eligible for these top-ups include men born from April 6, 1951, and women from April 6, 1953, which can potentially raise their eventual New State Pension sum. For some people, obtaining National Insurance credits may be a better route than making contributions, so it's important to explore all the options.
Wales Online
10-05-2025
- Business
- Wales Online
State pension to rise in 2026 for people born in these years
State pension to rise in 2026 for people born in these years The State Pension age in the UK is currently set to start rising from 66 to 67 from 2026, with the increase expected to be fully implemented for men and women by 2028 The State Pension age in the UK is due to rise from 66 to 67 starting next year, with the rise anticipated to be fully realised for both genders by 2028. This change to the official retirement age has been a part of UK legislation since 2014, and a subsequent hike from 67 to 68 is scheduled to occur between 2044 and 2046. The Pensions Act of 2014 fast-tracked the increase of the State Pension age from 66 to 67 by eight years. The UK Government also adjusted the phasing of the State Pension age elevation, meaning that instead of reaching State Pension age on a specific date, individuals born between March 6, 1961, and April 5, 1977 will qualify to claim the State Pension once they reach 67. It's vital to stay informed about these forthcoming changes, particularly if you have a retirement plan in place. All those affected by changes to their State Pension age will receive an advance notification letter from the Department for Work and Pensions (DWP). According to the Pensions Act 2007, the State Pension age for both men and women will undergo another increase from 67 to 68 between 2044 and 2046. For money-saving tips, sign up to our Money newsletter here . The Pensions Act 2014 requires a regular review of the State Pension age at least every five years. These reviews will adhere to the principle that individuals should spend a certain proportion of their adult life receiving a State Pension. The UK's state pension age is due for a review before the end of this decade. Originally, the Conservative government had planned this review for two years post the general election, which would have been in 2026. Article continues below The review will consider factors such as life expectancy when deciding on the State Pension age. Following the review, the UK Government may decide to adjust the State Pension age. However, any proposed changes must be approved by parliament before they can be implemented into law. This is the earliest age at which you can start receiving your State Pension, which may not be the same as the age at which you can access a workplace or personal pension. In terms of increasing State Pension payments, HM Revenue and Customs (HMRC) recently revealed that over 10,000 payments totalling £12.5 million have been made through the new digital service to boost State Pensions since it was launched last year. However, those looking to maximise their retirement income through the contributory benefit only have a few weeks left to fill any gaps in their National Insurance (NI) records dating back to 2006. Article continues below The duration for making voluntary National Insurance contributions has been significantly increased beyond the usual six-year limit. The past administration extended the period to allow backdated payments from April 6, 2006, to April 5, 2018, and now, under the new State Pension rules, up to April 5, 2025. This gives individuals additional time to assess their situation and contribute further if needed. Those eligible for these top-ups include men born from April 6, 1951, and women from April 6, 1953, which can potentially raise their eventual New State Pension sum. For some people, obtaining National Insurance credits may be a better route than making contributions, so it's important to explore all the options.
Daily Record
07-05-2025
- Business
- Daily Record
New State Pension age set to rise to 67 for people born in these years
The State Pension age will increase from 66 to 67 between 2026 and 2028. Pension Credit – Could you or someone you know be eligible? The State Pension age is set to start rising from 66 to 67 next year, with the increase due to be completed for all men and women across the UK by 2028. The planned change to the official age of retirement has been in legislation since 2014 with a further rise from 67 to 68 set to be implemented between 2044 and 2046. The Pensions Act 2014 brought the increase in the State Pension age from 66 to 67 forward by eight years. The UK Government also changed the way in which the increase in State Pension age is phased so rather than reaching State Pension age on a specific date, people born between March 6, 1961 and April 5, 1977 will be able to claim the State Pension once they reach 67. It's important to be aware of these upcoming changes now, especially if you have a retirement plan in place. Everyone affected by changes to their State Pension age will receive a letter from the Department for Work and Pensions (DWP) well in advance. Under the Pensions Act 2007 the State Pension age for men and women will increase from 67 to 68 between 2044 and 2046. The Pensions Act 2014 provides for a regular review of the State Pension age, at least once every five years. The review will be based around the idea people should be able to spend a certain proportion of their adult life drawing a State Pension. A review of the planned rise to 68 is due before the end of this decade and had originally been scheduled by the then Conservative government to take place two years after the general election - which would have been 2026. Any review of the State Pension age will take into account life expectancy along with a range of other factors relevant to setting the State Pension age. After the review has reported, the UK Government may then choose to bring forward changes to the State Pension age. However, any proposals would have to go through Parliament before becoming law. Check your State Pension age online Your State Pension age is the earliest age you can start receiving your State Pension. It may be different to the age you can get a workplace or personal pension. Anyone of any age can use the online tool at to check their State Pension age, which can be an essential part of planning your retirement. You can use the State Pension age tool to check: When you will reach State Pension age Your Pension Credit qualifying age When you will be eligible for free bus travel - this is at age 60 in Scotland Check your State Pension age online here. Boosting State Pension payments HM Revenue and Customs (HMRC) recently announced more than 10,000 payments worth £12.5 million have been made by people through the new digital service to boost State Pensions since it launched last year. However, anyone keen to maximise their retirement income through the contributory benefit has just a few weeks left to fill any gaps in their National Insurance (NI) records going back as far as 2006. Usually people can only pay voluntary contributions for the past six tax years, and after the April 5 deadline this year the normal six-tax year time limit will apply. In 2023, the previous government extended the deadline to pay voluntary NI contributions to April 5, 2025 for those affected by new State Pension transitional arrangements, covering the tax years running from April 6, 2006 to April 5, 2018. The extended deadline has allowed people more time to consider what is right for them and make their contributions. Men born after April 6, 1951 and women born after April 6, 1953 are eligible to make voluntary NI contributions to boost their New State Pension. Some people may be entitled to NI credits rather than needing to pay contributions, so they will need to check and consider what is right for them. People can find out more about making voluntary contributions on here. People of working age can also check their State Pension forecast on here. Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners, the online investment platform, said: 'People typically need at least 10 qualifying years of NI (national insurance) contributions to receive any state pension at all and at least 35 years to receive the full new State Pension - though they don't need to be consecutive years. 'Plugging gaps can be quite an expensive process, so it is important to assess whether you actually need to buy back any missing years. This will depend on how many more years you plan to work, and whether you are eligible for NI tax credits, which fill the gaps, such as those who have been sick, were unemployed or took time out to raise a family or care for elderly relations. 'Plugging gaps in your record is relatively straightforward since the Government rolled out its new NI payments services in April last year - a State Pension forecast tool that has been checked by 3.7m since its launch.' She continued: 'People simply need to log into their personal tax account or the HMRC app to not only view any payment gaps but also check if they can plug those gaps directly through the Government's digital channels. 'A short survey assesses the person's suitability to pay online with those eligible to pay directly given a series of options to plug any gaps depending on when someone wants to stop working. 'Calculating whether to top up can be confusing though and ultimately there is no point paying for more years than you need because you won't get that money back.' Ms Haine added: 'People who might need to top up include those that took a career break as well as low earners or expatriates living and working abroad. 'Remember, this deadline has been extended a couple of times in the past, which makes it more likely the Government will stick to the April cut-off point this time around. For this reason, those that think they might need to take action should start the process now.'
