The State Pension system in English law has undergone significant reforms in recent years. The current system, introduced on 6 April 2016, replaced the previous complex arrangement with a simplified “new State Pension”
Under the new system, individuals born on or after 6 April 1951 (men) or 6 April 1953 (women) are eligible for the new State Pension
To qualify for the full amount, currently £221.20 per week (2024-2025), individuals need 35 qualifying years of National Insurance contributions
Key features of the new system include:
The State Pension age is currently 66 for both men and women, with planned increases in the future
Individuals must claim their State Pension, as it is not paid automatically. The government provides tools and resources to help people understand their entitlements and plan for retirement.
State Pensions are an often-overlooked resource when dealing with pensions and this is a mistake as a full State Pension could be as worth as much as £250,000 – £300,000 were it a more ‘typical’ private pension. Some elements of some the State Pensions may be the subject of a pension sharing order but all pensions should be considered as relevant assets.
Pensions are a complicated area of law and require specialist consideration – something Warners have considerable experience in.
To book an appointment or to discuss this further, please contact the family law team on family@warners.law, 01732 747900.
This article is for general information only and does not constitute legal or professional advice. Please note the law may have changed since this article was published. We do not accept responsibility or liability for any actions taken based on the information in this article.
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