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Question on qualifying years for UK state pension

I hope some experts can help me here.

Currently a man needs 44 qualifying years and a woman needs 39 qualifying years in order to get a full state pension. I know that this changes for women born after 5th April 1950 and that their qualifying years will reach 44 years by 2020.

However, I'm sure that there was some proposal to reduce this qualifying period to 30 years.

After hours of google searching and searching the Treasury web site and others, I cannot find a single mention of this.

Was I dreaming?

I hope some-one can point me in the right direction for this information please.

David

Reply to
David Floyd
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Anything to do with pensions and IFAs reminds me of the mind manipulation in the The IPCRESS File

"in a moment you will forget everything I have just told you.."

But you were not dreaming.... this is the proposal.

Reply to
whitely525

I just knew that as soon as ask the question I would find the answer. I've now found the lengthy White Paper on Pensions Reform.

David

Reply to
David Floyd

Go here - see the "notes for editors"

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Reply to
Martin

which is kind of annoying for people who have paid voluntary contributions in the last few years...

Reply to
Iain

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Reply to
Andy Pandy

And unfairly nice for those thinking of early retirement.

Reply to
Miss L. Toe

Not really. You don't get the pension when you "retire", you get it when you reach pensionable age.

What do the proposed new rules say will happen if you've got fewer than 30 qualifying years? Do you get nothing or is it pro-rata?

Under the old rules you need at least a quarter of the qualifying years to get anything at all [i.e. if you're a man who needs 44qy for the full pension, you need at least 11qy to get (I think) a quarter of the full pension], and then there's a sliding (but not quite linear) scale between the minimum and full basic pension.

I gather the new rules do away with this lower qualifying threshold, but it's not immediately clear from a quick scan of the paper whether this threshold has been moved down to 0qy or up to 30qy. So if you have 27qy do you get nothing or 90% of the full pension? If you have 3qy do you get nothing or 10%?

Reply to
Ronald Raygun

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