State pension warning: 1950s women lose out on full £168 because of National ...

STATE PENSION changes mean 1950s women could receive less than the basic rate of £168.80 a week due to not having a full contribution record.

PUBLISHED: 19:41, Fri, Feb 14, 2020 | UPDATED: 19:41, Fri, Feb 14, 2020

The state pension age for men and women is currently 65 but will increase to 66 by October 2020. The pension age will then rise to 67 between 2026 and 2028. While the basic state pension is up to £168.60 a week, some pensioners will receive less due to paying lower National Insurance in the past.

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Speaking to Express.co.uk, Age UK's policy expert Sally West said: “In terms of the new state pension there’s a set amount which is the full amount of £168.80 a week.

“People reaching state pension age now may not get the full amount because they haven’t got a full contribution record.

“But there’s also a very complicated part of the system which is about the transition from the old system to the new system.

“If somebody was working and paying into an occupational pension before 2016, if it’s what’s called a contracted-out pension, they would have been paying lower national insurance than the standard rate.

READ MORE: State pension age change warning: Retirement age will increase

State pension warningState pension changes mean 1950s women could receive less than the basic rate (Image: GETTY )

State pension newsThe state pension age for men and women is currently 65 but will increase to 66 by October 2020 (Image: GETTY )

“This is because they would have been paying into a workplace/occupational pension instead.

“An adjustment is made for that so even if you’ve got a full contribution

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