Some pensioners may find they’re getting hundreds of pounds less than their peers every month because of their birthday - one expert explains why
People approaching state pension age are, at large, aware that having 35 years of paying National Insurance, or recieiving the equivalent credit or paying the equivalent voluntary contributions, will entitle them to £221.20 a week once they hit state pension age. This is the full new state pension sum, however, a number of pensioners and even some still yet to retire will be receiving far less.
” The previous state pension system also had additional benefits for those on basic state pension like State Earnings-Related Pension Scheme and the State Second Pension. The expert continued: “Over the years these became hard for people to understand and also disadvantaged some groups, mostly women and low-income workers. They found it harder to build up pension benefits due to taking career breaks often for childcare and lower earnings.
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