Property News · March 7, 2016

The sweeping pension shake-up that could leave you with nothing at all


A new system to be introduced next month is supposed to be simpler and fairer. But many are in for a nasty retirement surpriseA major overhaul of the state pension system that comes into effect on 6 April will mean thousands of people who do not have enough national insurance contributions to their name will get nothing. The government has pledged that the new deal for pensioners will be fairer and simpler – yet many are in for a very unpleasant shock.Among those set to lose out are 50,000 women and 20,000 men in their 50s and 60s, according to figures today from charity Age UK. Because they have fewer than 10 years’ of contributions they won’t receive a penny in state pension when they retire. Under the current system people are entitled to some state pension even if they have only paid national insurance contributions for a few years. Continue reading…

Source : theguardian.com
Read more…The sweeping pension shake-up that could leave you with nothing at all

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