Pensions Act gains Royal Assent

The Act will also reduce the number of years’ contributions required to achieve a full basic state pension to 30 for men and women from April 6, 2010. Current legislation requires 44 years of contributions for men and 39 years for women. A spokesman from Scottish Life says the changes offer people a good deal as the Government could have raised the number of years’ contribution required for a full basic state pension while raising the retirement age. The Act could also give low income women an extra £50 a week by the 2050s from their state pension. The Act re-links the basic state pension...