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The State Pension is an existing welfare benefit that forms part of the United Kingdom Government's pension arrangements. Benefits vary depending on the age of the individual and their contribution record. Currently anyone can make a claim, provided they have a minimum number of qualifying years of contributions.
The state pension is based on years worked, with a 35-year work history yielding a pension of £203.85 per week. It is linked to wage and price increases. Most employees and the self-employed are also enrolled in employer-subsidised and tax-efficient occupational and personal pensions which supplement this basic state-provided pension.
As the UK's biggest public service department it administers the State Pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers. It is the second largest governmental department in terms of employees, and the largest in terms of expenditure (£187bn).
The UK state pension age is due to rise to 68 from 2044, and previous reports suggested that ministers could follow the recommendations of an independent review to bring that date forward ...
Frozen state pension. Frozen state pensions is the practice of the British Government of "freezing" UK State Pensions, (that is, not uprating the amount in line with "Triple Lock" on an annual basis, as is done for residents in the UK), for pensioners who live in the majority of other countries, apart from the European Community countries and ...
The secretary of state for work and pensions, also referred to as the work and pensions secretary, is a secretary of state in the Government of the United Kingdom, with overall responsibility for the business of the Department for Work and Pensions.
State Second Pension. The State Second Pension ( S2P ), or Additional State Pension, was introduced in the UK by the Labour Government on 6 April 2002, to replace the SERPS ( State Earnings-Related Pension Scheme ). The main aim of this change was to skew existing Additional Pension (AP) benefits in favour of low and moderate earners at the ...
Pension Credit is the principal element of the UK welfare system for people of pension age. It is intended to supplement the UK State Pension , or to replace it (for example, if the claimant did not meet the conditions to claim a State Pension).
Timeline of changes to the age at which eligible persons receive the United Kingdom State Pension. Timeline (1908–2030)
The State Earnings Related Pension Scheme (SERPS), originally known as the State Earnings Related Pension Supplement, was a UK Government pension arrangement, to which employees and employers contributed between 6 April 1978 and 5 April 2002, when it was replaced by the State Second Pension.
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