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This briefing gives an overview of pensions in the UK, including key data on the new and old state pension and private (occupational and personal) pensions
This briefing gives an overview of pensions in the UK, including key data on the new and old state pension and private (occupational and personal) pensions
Between 1978 and 1997, contracted-out defined benefit pension schemes were required to provide a Guaranteed Minimum Pension (GMP). This briefing looks at the arrangements for increasing GMPs.
Between 1978 and 1997, contracted-out defined benefit pension schemes were required to provide a Guaranteed Minimum Pension (GMP). This briefing looks at the arrangements for increasing GMPs.
To ask the Secretary of State for Work and Pensions, if she will undertake a review of the impact of changes implemented as part of the Pensions Act 2014 on the ability of widows to inherit a spouse's state pension entitlement.
To ask the Secretary of State for Work and Pensions, if she will undertake a review of the impact of changes implemented as part of the Pensions Act 2014 on the ability of widows to inherit a spouse's state pension entitlement.
There are no current plans to carry out such a review.
The new State Pension, for people reaching State Pension age from 6 April 2016 onwards, is based on an individual's own National Insurance record. In general, it is not possible, as it was under the old State Pension system, for a person to increase their State Pension or to qualify for a State Pension based on their late spouse or civil partner's National Insurance record, although there is some protection under the transitional arrangements for the new State Pension.
The new State Pension modernised the State Pension system, moving away from an out-of-date model in the past where many women depended on their husbands for their State Pension entitlement. The new State Pension is rooted in the contemporary world, with people’s entitlement determined by their own National Insurance record.
The change on inheritance was one of a number of reforms which need to be seen in the round. These include much greater recognition for periods when women are outside the labour market, caring for children. These reforms have resulted in much improved State Pension outcomes for women. Women reaching State Pension age in the year to December 2024 on average received 99.1% of the amount received by men, with equalisation expected shortly. Under the previous system, on average, women receive 86% of the amount received by men.
The Parliamentary and Health Service Ombudsman has investigated the communication of State Pension age increases to women born in the 1950s.
The Parliamentary and Health Service Ombudsman has investigated the communication of State Pension age increases to women born in the 1950s.
A Westminster Hall debate on government support for pensioners is scheduled for Wednesday 12 February 2025 at 2:30pm. The debate will be led by Blake Stephenson MP.
A Westminster Hall debate on government support for pensioners is scheduled for Wednesday 12 February 2025 at 2:30pm. The debate will be led by Blake Stephenson MP.
A Westminster Hall debate has been scheduled for Monday 12 December on the state pension. The debate will be opened by Marsha De Cordova MP.
A Westminster Hall debate has been scheduled for Monday 12 December on the state pension. The debate will be opened by Marsha De Cordova MP.