UK Pension Legislation Changes

On 6th April 2010 new legislation becomes effective in the UK. Currently you have to have contributed at least 10 years to collect a UK state pension ? after 6th April the number of years of National Insurance contributions you need to have worked and made NI payments is one. To obtain a full UK state pension (currently ?95.25 per week) you need to have paid into the system for a minimum of 30 years. After the 6th April your pension will be calculated depending upon the number of years you have contributed, i.e., having worked for seven years will entitle you to ?95.25 ? 30 ? 7 = ?22.22 per week.

There seems to be a big shake-up in the rules after 6th April. For an accurate assessment of your own personal pension entitlements including the Home Responsibility Protection which women who have stayed at home to raise children qualify for, call 0044 191 203 7010 for details on how to obtain your pension forecast. Or contact www.direct.gov.uk/pensions