New State Pension explained
The State Pension has changed for people who reach State Pension age from 6 April 2016 onwards.
1. Introduction
The State Pension changed on 6 April 2016 for people who reach State Pension age from then onwards. This is men born on or after 6 April 1951 and women born on or after 6 April 1953.
The old rules (which include basic State Pension and Additional State Pension) were complicated, making it difficult to know how much you’d get until you were close to State Pension age. With the new State Pension, people will know from a much younger age how much they’re likely to get, providing a solid base for their saving and retirement planning.
2. What is the State Pension?
The State Pension is a regular payment from the government most people can claim when they reach...
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