Nearly two million older people receive less than £100 each week in State Pension payments
The latest figures from the Department for Work and Pensions show that there are nearly 12.5 million people across Great Britain receiving State Pension payments, including 1.1 million living abroad and 992,052 in Scotland.
Ms Morrissey explained: “The new State Pension has done much to boost the financial resilience of women in retirement and close the gap with men. This is great news but the comparison between what women receive on the new and basic rate pension systems is stark - on average more than £18 per week. State Pension rates for 2023/24 Full New State Pension You are eligible for the New State Pension if you are:Basic State Pension You are eligible for the Basic State Pension if you are:Top Money Stories Today Five ways to boost your State Pension payments Helen Morrissey shares her top five tips to help increase your finances before and after you reach State Pension age.
It can also entitle you to other benefits such as help with Council Tax payments and a free TV licence for those aged over 75 - find out more here. Claim Child Benefit Women in particular miss out on valuable State Pension credits when they are at home looking after children. However, if they claim Child Benefit, they will receive National Insurance credits that count towards their State Pension. Many women have missed out on this in the past because their husband claimed the Child Benefit rather than themselves.
If this is the case, you could qualify for National Insurance credits under Specified Adult Childcare Credit as the working parent essentially transfers their NI credit to you.
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