Verenigd Koninkrijk
Private Pensions
Private pensions include occupational pensions (also known as work or company pensions) and personal pensions (including stakeholder pensions).
An occupational pension gives you tax relief on your contributions and generally involves the employer making contributions to the scheme on top of those paid by the member. A personal pension is bought from a pension provider such as a bank, building society or life assurance company.
State Pensions
The UK government pay a state pension to those who have reached state pension age and who have paid National Insurance Contributions for a minimum number of years. State pension age is currently 65 for men and 60 for women who reach 60 before 2010. Between 2010 and 2020 the pension age for women will gradually increase to 65.
The amount of pension you receive depends on the number of qualifying years of National Insurance (NI) contributions you have made. If you are working or earning £87-£100 per week in 2007/08 from a single employer, you will be treated as if you have paid National Insurance contributions. To qualify for the full basic state pension, men need to have made 44 years of contributions and women must normally have between 39-44 qualifying years to get a full state pension depending on the date they reach their state pension age. If you want to increase your qualifying years you may be able to pay voluntary National Insurance Contributions to increase the amount of state pension you receive. If you have not made the required number of contributions, you may still receive a reduced state pension. To get the minimum basic state pension, which is work 25% of the full pension, you will normally require 10 or 11 years of contributions. Since 2002, low and medium earners can get a more generous additional state pension and in some cases carers and people with long-term illnesses and disabilities can build-up additional state pension.
In 2006/07, the full state pension is £84.25 per week for a single person and £134.75 per week for a couple.
If you have not worked in the UK for long enough to qualify for a state pension, you may be eligible for a pension from another country in which you have worked. You should contact the relevant authorities in that country.
Pension Credit
Pension Credit guarantees everyone over 60 and living in Great Britain an income of at least £114.05 per week if you are single, and £174.05 per week if you have a partner. If your income is already above this level, you will probably not be eligible for the pension credit. If you are 65 you may be able to claim £17.88 if you are single, and £23.58 if you have a partner. Telephone 0800 99 1234.
The Pension Service
The Pension Service is part of the Department for Work and Pensions and aims to provide today’s and future pensioners with a dedicated service on State Pension, Pension Credit and other entitlements. Telephone 0845 6060265.
The International Pension Centre (IPC)
The IPC deals with claims to state pension for people living outside the UK, and for those living in the UK who have previously lived or worked in other countries that apply the EC rules on social security, or in a country that has Reciprocal Social Security Arrangement with the UK. Telephone: +44 191 218 7777.
