The government has announced proposals to end the current inequality in the level of men and women’s state pensions.
Currently the average woman’s state pension upon retirement is £110.00 compared to a man’s being £160.00. This is often due to women taking a career break to raise children and paying less in National Insurance contributions. Rather than the complicated system that now applies, the government proposes to introduce a flat rate for men and women of £140.00. The changes will not apply to people who have already retired.
The government has not confirmed when the changes are likely to be introduced but has said that it intends to implement the changes before the next general election in around 2015.
If you would like further information, please telephone our specialist solicitors on 01992 892214.
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