By combining Budget reforms with existing rules which reward savers who delay taking their State pension, eligible women can boost their payout by up to tens of thousands of pounds over a lifetime.
The route will benefit most those women with small workplace pension pots due to hit state pension age before April 2016, and allow them to increase their retirement income by 20%, the Daily Mail reports. The legal loophole is only emerging now as pensions experts work out all the implications of sweeping changes coming in next April. Men can also take advantage, but the biggest benefits will be for women whose retirement plans have been thrown into chaos due to reforms of the state pension. A higher retirement age - currently 62 - means women miss out on years of state pension w...
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