Five things you didn't know about the state pension

clock

Think you know the notoriously complicated state pension system? Check out these facts to test your knowledge.

1) If the link between pensions and earnings had not been broken in 1980, the National Pensioner Convention calculates that the current basic state pension would be £161.30 per week today, instead of £97.65 per week. 2) The government plans to set the universal state pension at £140 or even £155 per week, but this is still under the DWP's official poverty line of £178 per week. 3) The current system is so complicated partly because there are currently more than 30 different pensioner benefits that can be claimed on top of the basic state pension. These include a Christmas bonus, help ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •