A new single tier state pension
is to be introduced for those reaching state pension age from 6 April 2016
onwards. According to research by the Department for Work and Pensions (DWP)
many pensioners will receive a boost from the new single tier pension following
its introduction from 6 April 2016.
Under the 'flat-rate' system, new
pensioners could receive up to £155.65 per week, compared to the current state
pension entitlement of £119.30.
The press release states:
‘The data shows the long-term impact of the new State Pension on
people’s pensions, with 75% of people set to gain in the first 15 years.
The move to the new system will provide a boost to the State Pension
for many women, with over 3 million women receiving an average of £11 more per
week by 2030 as a result of the changes, – helping to address the gender
inequalities that have persisted under the old scheme.’
To find out what your pension
entitlement is visit www.gov.uk/state-pension-statement
Internet link: GOV.UK news
For more
information please do not hesitate to contact the team at Ward Williams
Financial Services Ltd on 01932 830664 or by email on wwfs@wardwilliams.co.uk.
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