NEW UK PENSIONS ACT 2014

[ThaiWidowsandExpats]

    UK PENSIONS ACT 2014

    The single-tier state pension has now passed into law. (14th May 2014)

    From April 2016, the flat-rate state pension will be set above the basic level of means-tested support, currently £148.40 per week

    The new State Pension will be a regular payment from the government that you can claim if you reach State Pension age on or after 6 April 2016.

    You’ll be able to get the new State Pension if you’re eligible and:

        a man born on or after 6 April 1951
        a woman born on or after 6 April 1953

    The new State Pension will replace the current State Pension scheme. You’ll get your State Pension under the current scheme if you reach State Pension age      before 6 April 2016.


    HOW MUCH CAN YOU GET

    The full new State Pension will be no less than £148.40 per week. The actual amount will be set in autumn 2015.

    Your National Insurance record is used to calculate your new State Pension. You will usually need to have 10 qualifying years on your National Insurance record to get any new State Pension.

    The amount you get can be higher or lower depending on your National Insurance record. It will only be higher if you have over a certain amount of Additional State Pension.


    BEREAVEMENT BENEFITS

    The new Pensions Act provides for changes to be made to Bereavement Benefits. In future this will be known as “Bereavement Support Payment”

    The Government has taken account of evidence provided in consultation responses about the high risk of people using the Bereavement Support Payment inappropriately if this is paid as a large lump sum. As a result, the Bereavement Support Payment will be paid in instalments, rather than as a single lump sum.

    By not offering people a choice between payment by a single lump sum or ongoing payments, the Government is simplifying the benefit, and minimising the decisions that bereaved people need to make at this difficult time

    It is anticipated payments will be made for a period of 12 months but the details of how instalments will be paid will be finalised in regulations.

    The indicative amounts are:

    Pay a lump sum in the region of £2,500 and further monthly instalments of £150 for a period of one year for recipients without dependent children; and a lump sum in the region of £5,000 and further monthly instalments of £400 for a period of one year for recipients with dependent children

    Claimants will be entitled to receive the full payment as long as their late spouse or civil partner paid National Insurance contributions at 25 times the Lower Earnings Limit for any one year prior to their death
    .
    There are still no plans to extend eligibility for bereavement benefits to those who are not married or in a civil partnership

[CO-CO]

I think I am right in saying that 35 years of contributions are required to be eligible for the full State Pension.

[ThaiWidowsandExpats]

Not sure that is the case Co-Co, although that is what we have been led to believe over the past months.

You will need 35 qualifying years to get the new full State Pension if you don’t have a National Insurance record before 6 April 2016.

https://www.gov.uk/new-state-pension/eligibility

[binnsy]

It used to be 44 years but then they dropped it to 30 years to get the maximum state pension.

[Nobby]

It used to be 44 years but then they dropped it to 30 years to get the maximum state pension.

Correct and the same for both Male and Females at that time