16
Search
A changing state of affairs
The new Pensions Bill was published on 13 January 2011. It refines existing legislation and introduces
changes to legislation that reflect recent Government decisions. Here’s a quick guide to what the changes
could mean for you.
An increase to State Pension Age
Pensions Minister Steve Webb
“Everybody knows we are living longer. It is like
an express train”.
13 January 2011 – 2:35:00
Changes for Women (up to 2018)
Date of Birth
State Pension Age
6 April 1953–5 May 1953
6 July 2016
6 May 1953–5 June 1953
6 November 2016
6 June 1953–5 July 1953
6 March 2017
6 July 1953–5 August 1953
6 July 2017
6 August 1953–5 September 1953
6 November 2017
6 September 1953–5 October 1953
6 March 2018
6 October 1953–5 November 1953
6 July 2018
6 November 1953–5 December 1953
6 November 2018
The Government announced in this year’s Budget that it wanted to create a new,
automatic mechanism for future increases in the pension age, based on regular,
independent reviews. It has also been holding a consultation over the summer into whether further reforms
are needed to the State Pension Age. Following this consultation, in September 2011, Work and Pensions
Secretary Iain Duncan Smith said that the timetable for raising the State Pension Age to 67 is too slow. The
most likely change is that raising the pension age to 67 would be brought forward 10 years to 2026, with a
mechanism established to determine future increases relating to life expectancy.
Links
Category
News & Politics
C
Like – 10,132 views
Do I qualify?
405 views
View
You need
30
qualifying years to
receive the full amount of Basic State
Pension when you retire. You can pay
top-up contributions if you need to.
Compulsory Retirement
6,400 views
View
Compulsory retirement has been
abolished. Employees can now
choose to work after age 65.
Related videos
Pensions Retirement
Under existing rules, the State Pension Age
for women was in the process of rising from 60 to 65 to
equalise with men; and the State Pension Age for both men and women was due to increase from 65 to 66
between 2024 and 2026. The Pensions Bill brought forward the timing of the increase and, to comply with
the EU Directive that requires equal treatment of men and women in social security matters, proposed an
amendment to speed up the process for the increase to women’s State Pension Age. Specifically:
• Women’s State Pension Age will reach 65 by November 2018 (this will affect women born on or after
6 April 1953). See the table below for more details.
• The rise from 65 for both men and women will begin in December 2018 and reach 66 by October
2020 (State Pension Age was originally due to reach 66 for men and women by April 2020, but the
government altered these plans in October 2011, pushing the date back to October 2020).
• Further increases to age 67 by 2036 and 68 by 2046 were anticipated.
Auto-enrolment
4,125 views
View
All workers will have a right to a pension
contribution from their employer and will be
automatically enrolled in their scheme unless
they decide to opt out. The requirement to
auto-enrol eligible employees into a qualifying
scheme will come into force from 2012.
A new workplace pension scheme ‘NEST’ is
being launched by the Government, which
can be used by employers whose current
schemes do not qualify.
BAT employees are already automatically
enrolled into the BAT UK Pension Fund, which
exceeds the minimum requirements of a
pension fund under auto-enrolment, and so
are largely unaffected by this legislation.
NEWSFLASH
Fyi
Tube
