DWP £230.25 per week for State Pensioners born before 1960: Check Are you in the List

DWP £230.25 per week for State Pensioners born before 1960: If you were born in the early 1960s, there’s an important update you should know about. The Department for Work and Pensions (DWP) in the UK is asking people born between 6 April 1960 and 5 March 1961 to urgently check when they can start claiming their State Pension.

This is because the government is reviewing the pension age, and it may change soon. This can also affect when you get other benefits like free bus travel and Pension Credit.

What Is the State Pension Age?

The State Pension age is the earliest age when you can start receiving your State Pension money. It is not always the same as the age when you can take money from a private or workplace pension. You should use the UK government’s online tool to find out:

• When you will reach State Pension age
• When you can get Pension Credit
• When you can get free bus travel

Please note: These dates might change in the future as the government continues to review the pension system.

How Much Will You Receive?

The full new State Pension amount is £230.25 per week. But not everyone gets the full amount. What you receive depends on your National Insurance (NI) record.

To get any new State Pension, you must have at least 10 qualifying years of NI contributions. To get the full amount, you usually need 35 years of contributions. However, if you were “contracted out” before April 2016, you may need more years.

A DWP spokesperson explained that a qualifying year means a year where you:

• Worked and paid National Insurance
• Got NI credits (for unemployment, illness, or caring)
• Paid voluntary contributions

Are You Under the New or Old Pension System?

Men born on or after 6 April 1951 and women born on or after 6 April 1953 fall under the new State Pension rules. If you were born before these dates, you remain on the old system, which includes the basic State Pension and possibly Additional State Pension.

Why You Should Check Your Pension Forecast

It’s important to check your State Pension forecast to see how much you could receive and how many more years you need to qualify. Some people may get less than £230.25 a week, especially if they were contracted out. In such cases, you’ll need more than 35 years of NI contributions to get the full pension.

On the other hand, some people who paid into the Additional State Pension before 2016 might get more than the full amount. This extra money is called a “protected payment” and it increases with inflation.

Can You Work After Reaching Pension Age?

Yes, you can. The Default Retirement Age (65) has been removed. This means you are not forced to retire at 65 and can keep working if you want to. You can still receive your pension while working.

What Is the Triple Lock System?

Every year in April, the State Pension increases under the “Triple Lock” system. This means the pension will rise by whichever is higher:

• Average earnings growth
• Consumer Price Index (CPI) inflation
• Or 2.5%

If you were born in the early 1960s, it’s very important to check your State Pension age and forecast now. With changes expected in the rules, your pension age or amount may be different from what you thought. Use the government’s online tools to stay informed and plan your retirement smartly. Being prepared can help you make better financial decisions for your future.

SOURCE

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