Premium Essay

Discuss the Controversies, Changes and Potential Outcomes of the Current State Pension’s Situation in the Uk

In:

Submitted By aumera01
Words 752
Pages 4
What is the Basic State Pension?
The State Pension is a regular form of income provided by the government on or after the retirement age of an individual. There is a limited contribution by individuals towards this state pension, from their national insurance contributions. The working population pay NI contributions from their pay package, but those who do not work also pay NI contributions through their state benefits. Individuals who claim JSA, IS, ESA, the government pays the NI contribution on behalf of these individuals. There is also a second state pension available to top-up the state pension for those who qualify. Any individual who has reached their state pension age can claim this. For men the state pension age in 2013 was 65 and for women, state pension age is now varying from 60 in 2010 to 65 in November 2018. In order to qualify for the basic state pension one must have contributed 30 qualifying years of NI contributions.
The new State pension…
The new state pension will be put in place to replace the old basic state pension and additional pensions and will affect people from April 2016. In accordance with the new rules for the pension the full single tier pension will be only given to people with at least 35 years national insurance contributions or credits.
Individuals reaching state pension age from 6th April 2016 onwards would be affected with the new single tier, flat rate state pension changes being put in place. During mid 2014, parliament agreed the Pensions Act 2014; to introduce a single tier, flat rate State Pension, to replace the current basic and additional pensions in place for individuals reaching the pension age. The State Pension age to be increased from 66 to 67 between April 2026 and April 2028. Furthermore to set terms for reviews of the State Pension age every 5 years.

The new state pension has been put in place to

Similar Documents

Premium Essay

“What Is the Relationship Between Diversification and Performance, Particularly in Emerging Economies? What Are the Factors Which Are Relevant for Setting the Contents of That Relationship?”

...“WHAT  IS  THE  RELATIONSHIP  BETWEEN  DIVERSIFICATION   AND PERFORMANCE, PARTICULARLY IN EMERGING ECONOMIES? WHAT ARE THE FACTORS WHICH ARE RELEVANT FOR SETTING THE CONTENTS OF THAT RELATIONSHIP?” By João de Almeida Frazão Caro de Sousa Master Thesis Submitted to ESADE Business School in fulfilment of the requirements for the Degree of Master of Science in International Management ESADE Business School May 2012 Master of Science in International Management – ESADE Business School i Master of Science in International Management – ESADE Business School Table of Contents Introduction ..................................................................................................................................... 1 Theoretical Background 1. Diversification ......................................................................................................................... 5 1.1 General Observations ........................................................................................................ 6 1.2 Different types of diversification strategies....................................................................... 7 1.3 The costs and benefits of diversification ........................................................................... 8 1.4 Diversification Trends ....................................................................................................... 9 A. The Lack of Significant Relationship ................................

Words: 67131 - Pages: 269

Premium Essay

Manajemen

...Management Revised Edition Peter F. Drucker with Joseph A. Maciariello Contents Introduction to the Revised Edition of Management: Tasks, Responsibilities, Practices Preface 1 2 3 Part I 4 5 6 7 Part II 8 9 10 11 Part III 12 Introduction: Management and Managers Defined Management as a Social Function and Liberal Art The Dimensions of Management Management’s New Realities Knowledge Is All New Demographics The Future of the Corporation and the Way Ahead Management’s New Paradigm Business Performance The Theory of the Business The Purpose and Objectives of a Business Making the Future Today Strategic Planning: The Entrepreneurial Skill Performance in Service Institutions Managing Service Institutions in the Society of Organizations vii xxiii 1 18 26 35 37 45 51 65 83 85 97 113 122 129 131 iv Contents 13 14 15 16 Part IV 17 18 19 Part V 20 21 What Successful and Performing Nonprofits Are Teaching Business The Accountable School Rethinking “Reinventing Government” Entrepreneurship in the Public-Service Institution Productive Work and Achieving Worker Making Work Productive and the Worker Achieving Managing the Work and Worker in Manual Work Managing the Work and Worker in Knowledge Work Social Impacts and Social Responsibilities Social Impacts and Social Responsibilities The New Pluralism: How to Balance the Special Purpose of the Institution with the Common Good The Manager’s Work and Jobs Why Managers? Design and Content of Managerial Jobs Developing...

Words: 243737 - Pages: 975