The France Show by Kelly Roberts

By the time we reach our mid-50s, many of us start to think seriously about life beyond work. With the minimum pension access age set to rise to 57 from April 2028, questions about how much money we need to retire comfortably are more relevant than ever. Inflation, interest rate fluctuations, and changing lifestyles mean […]

by Keith Littlewood, International Financial Adviser Costa Blanca

A brand new state pension was ushered in on 6 April 2016 as a result of a massive shake-up. The new payout has been designed to make the whole process easier to understand, although it’s still far from simple.

The old system was in two parts, a basic state pension of £119.30 plus an additional pension, if applicable, with 30 years NI contributions required to get the maximum amount.  Under the new system there is a flat rate payment of £155.65 plus any protected payment for which you will need to have 35 years NI contributions to get the maximum amount.  There are also a minimum of 10 years in the NI system required to get anything at all.