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Pension benefits when a person reaches retirement

Every British citizen living in the United Kingdom is entitled to receive a state pension. This is a set amount payment paid to the person once they reach retirement age. The age a person is considered retired, used to be 60 for a woman and 65 for a man, however recent changes mean this is no longer the case. People will now have to wait longer to receive their state pension and benefits. The age is governed by your date of birth and you can find out your predicted retirement age by ringing the DWP helpline with your national insurance details to hand.

When a person does officially retire, they may also be entitled to other pension benefits, as well as the state pension handed out by the government. People of retirement age who are on a low income can apply for a benefit known as pension credits. This is where the government tops up your pension, to meet a more reasonable standard. This is especially helpful for people who have not always paid national insurance contributions, as they will only receive a percentage of the state pension amount.

Winter fuel payments are paid once a year to every person of state retirement age. While everyone is entitled to these pension benefits, the amount of the payment ranges between £100 and £300 depending on your individual circumstances. This benefit is designed to help people pay their heating bills, which are naturally more expensive in the winter. The benefit is usually paid somewhere between October and the first week in December.

For people who are worried about how much state pension they will receive or when they will qualify for it, you can visit the DirectGov website for all the information you need. This website also provides information on other pension benefits, as well as alternative ways to access the information you need.

 

 

 

 

 

 

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