Retirement: Are you one of the 50% of workers to miss out on the flat rate State Pension?

Are you one of the 50% of workers to miss out on the flat rate State Pension?New figures have shown that millions of workers retiring from 2016 will not receive the full flat rate State Pension. In fact, the research completed following a Freedom of Information request by Hargreaves Lansdown has shown that in the first five years nearly two million people will miss out on the full flat rate State Pension. The Government has introduced the flat rate State Pension an effort to simplify the complex system, whilst ensuring that saving into a ...

State Pension: Government rethink on £140 per week flat rate State Pension?

One of the coalition government’s flagship policies could be under threat, if reports in today’s Financial Times are correct. The Work & Pensions Secretary, Iain Duncan-Smith, has previously announced the introduction of the flat rate State Pension to replace the existing system, which was seen by many as overly complex. The policy was also included in George Osborne’s last budget. However, the FT reports today that Prime Minister, David Cameron, is considering a rethink amid fears that the policy will leave many worse off, including people traditional Conservative voters. The FT report, says that Mr Cameron has decided to review the policy, after ...

State Pension: Thousands get just £7 per week

New figures from the Department for Work & Pensions (DWP) have highlighted the huge gap between the highest and lowest State Pensions. The figures show that approximately 130,000 people get less than £7 per week, with around the same number of people getting more that £230 per week, a gap of more than £220 and equivalent to more than £10,000 per year. Experts believe it is generally men who get the higher State Pensions with women typically getting less. Need financial advice ...

State Pensions: Stay at home mums no longer penalised

Work and Pensions Secretary, Iain Duncan-Smith, has announced that stay at home mums will no longer be penalised when the time comes to draw their State Pension. At present many stay at home mums, as well as carers, do not qualify for a full State Pension as they have not paid National Insurance contributions for the required 30 years. However, under new reforms it seems as though both groups will now qualify for a full State Pension. Flat rate State Pension from 2015...