Retirement Pension
This information is correct as of April 2008.
Additional pension. From 1978 – April 2002 extra pension can be built up under the state earnings related scheme (SERPS).
This is information on your rights and responsibilities and is to be used as guidance and not legal advice. Information correct as of April 2008.
Categories of Retirement Pensions
There are two main categories, which are contributory:- Category A pensions are based on your own contribution record.
- Category B pensions are payable to married women, widows, widowers, civil partners and surviving civil partners, and are based on your spouse’s / civil partner’s contribution record.
Age
You can get a retirement pension when you have reached state pension age. This is currently age 60 for a woman and 65 for a man. Changes to state pension age. Women born before April 1950 will get their pension at age 60, while women born from April 1955 onwards will not be able to claim a pension until they are 65. Those born between these dates will be able to claim their pension between 60–65.Work
Any earnings from work will not reduce your pension. If you carry on working during the first five years after reaching pension age, you can earn extra pension if you put off claiming retirement pension. After you reach 65 (women) or 70 (men) you can gain no extra increments.How to qualify
Your basic retirement pension depends on your:- National Insurance contributions
- Qualifying contributions
- Working life
Extra pension
Your category A or B pension may include:Additional pension. From 1978 – April 2002 extra pension can be built up under the state earnings related scheme (SERPS).
Graduated pension
Based on contributions between April 1961 – April 1975.Invalidity addition
This is paid if, within the eight weeks before reaching state retirement age, you were receiving:- An invalidity allowance with your invalidity benefit, or
- Transitional invalidity allowance with incapacity benefit.
- An age addition with long-term incapacity benefit.
Age addition.
25p for people aged 80 or more.How to claim
The Department for Work and Pensions will send you a claim pack about four months before you reach 60 (women) or 65 (men).How is it paid?
If your pension is more than £5 a week you can choose to have it paid directly into a bank or building society account or at the post office via a card account (although this may change after 2010). If you pension is less than £5 it will be paid in a lump sum with your £10 Christmas bonus.This is information on your rights and responsibilities and is to be used as guidance and not legal advice. Information correct as of April 2008.
Retirement Pension Apr 08.pdf (2 pages, 247kb)
