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The basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension) is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953. The maximum amount payable is £169.50 a week (April 2024 - April 2025). [1]
Pensions in the United Kingdom, whereby United Kingdom tax payers have some of their wages deducted to save for retirement, can be categorised into three major divisions - state, occupational and personal pensions. The state pension is based on years worked, with a 35-year work history yielding a pension of £203.85 per week. [1]
Timeline of State Pension age in the United Kingdom. Timeline of changes to the age at which eligible persons receive the United Kingdom State Pension .
Gov.uk – Your State Pension explained . Gov.uk – Benefit and pension rates 2024 to 2025 . Gov.uk – The new State Pension . Election Check 24. Show comments. Advertisement ...
The State Second Pension ( S2P ), or Additional State Pension, was introduced in the UK by the Labour Government on 6 April 2002, to replace the SERPS ( State Earnings-Related Pension Scheme ). The main aim of this change was to skew existing Additional Pension (AP) benefits in favour of low and moderate earners at the expense of higher earners ...
As the UK's biggest public service department it administers the State Pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers. It is the second largest governmental department in terms of employees, [1] and the second largest in terms of expenditure (£228bn as of July 2021 [update] ).
The welfare state represents around two-thirds of total government spending. [needs update] The welfare state of the United Kingdom began to evolve in the 1900s and early 1910s, and comprises expenditures by the government of the United Kingdom of Great Britain and Northern Ireland intended to improve health, education, employment and social ...
Scottish Parliamentary Pensions Act 2009. Self-invested personal pension. Small Self Administered Scheme. Social Security Contributions and Benefits Act 1992. Stakeholder pension scheme. State Earnings-Related Pension Scheme. State Pension (United Kingdom) State Second Pension. Superannuation Act 2010.
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