Major Change to UK pension rules from Tuesday 6th October
I get a bit tired of the “scare the pants off them” headlines especially when we sort of know it already, but that’s the way press and media work.
But, it’s important to know, so here’s what they are getting at….
From Tuesday October 6th, people will generally be 66 before they start receiving their State Pension.
Men and women born between October 6th 1954 and April 5th 1960 will start receiving their pension on their 66th birthday, and the younger savers may not reach state pension age until 70 or beyond.
“The increase to the state pension age provides a timely reminder to everyone to check your pension pots and ask yourself whether the savings you’ve built up are enough for the kind of life you want in retirement”.
When you get a minute tap into Google “ Application for state pension forecast.” You can do it online (option 1) or for us oldies, fill in with a pen (that’s option 2) it can sometimes be more accurate and it will give you your State Pension age and a guide to your weekly pension from the state.
Give us a call or drop me a line, a pension funding check is always a good idea.
Simon Boardman 07768 820014 email@example.comPublish date: 8th October 2020