Wednesday, April 15, 2009

Basic State Pension Changes From April 2010


Basic State Pension is the retirement income you can claim from the Government once you have reached State Pension age if you have paid, or been treated as having paid, sufficient National Insurance contributions, or received credits during your working life.

Key changes to basic State Pension include:

  • reducing the number of qualifying years needed for a full basic State Pension for men and women to 30 for people who will reach State Pension age on or after 6 April 2010. (Currently men have to have 44 qualifying years contributions and woman 39 years).
  • any number of qualifying years will give entitlement to at least some basic State Pension.
  • people who have fewer than 30 qualifying years will get 1/30 of full basic State Pension for each qualifying year they have.
  • both paid and credited National Insurance contributions will count towards basic State Pension in the same way.

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