Old Age Pensions

Old age pensions, or social security as they are called more correctly in many countries, begin in the United Kingdom at the age of 65 for men and 60 for women, but some of the proposed changes in the system may be of interest to UK residents.

The government of the UK implemented the Pension service, which is a subsidiary of the Department of Work and Pensions. This was created to assist you and to help you to determine when you can begin to receive your old age pension, and how much it will be.

Whether your already receiving an old age pension or are trying to plan for your own retirement, it behoves you to keep track of the services that are offered and what kind of changes are being planned or implemented. Old age pensions are a right for every UK resident. Although you may collect as little as five GBP per week, you are still entitled to some type of pension.

Your old age pension is dependent upon the amount of money that you have paid into the system in part. You will also receive other services as part of your old age pensions plan, which are further explained to you by visiting the State Pension and Pension Credits pages or offices in person.

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Currently the state pension age is 65 for men and 60 for women. This enters into play if you were born prior to April 1950. That age is about to increase gradually, with some of the first changes taking effect in 2010, when the age will increase upward, gradually moving to 65 by the year 2020.

Between 2024 and 2046, that age will further increase to 68 years before you can begin to gather your old age pension.

For most people who are currently getting their old age pension from the UK, the changes won't affect you too much, but for those who are about to begin, you will want to take steps to make sure that you can gather all of the old age pension services to which you are entitled.

The old age pension site for the United Kingdom offers you information about the changes, as well as a tool that will help you to determine how much you may have coming when your old age pension begins.