The pension system in the United Kingdom is one of the oldest and most complex systems in Europe. It was developed by entrepreneurs in the form of pension funds at the very beginning of the industrial revolution. As the funded pensions have historically dominated the country for a century, most of the pension burden rests on the shoulders of private sector employees and employers through private insurance. The retirement system may appear very complex, which is why we have created this guide to help you and your loved ones understand it a little better. This guide is dedicated to …
Pensions For Divorced and Widowed Women
In 2016, the age required to receive a state pension in the UK soared from 60 to 65 for women and the entire system was revamped with new qualifying factors. While the changes had been planned since the 1990s, the sudden change had devastating effects for women born after 1953. The government claimed it was a stride forward for gender quality as the male age qualification was already 65. Yet, it was women planning to retire at 60, that suddenly had to source another 5 years of income. The changes affected divorced, and widowed women more than anyone. Under the current system, to get …
