UK STATE PENSION OVERVIEW – How much, when and will I qualify for the State Pension UK? In this video I cover how your State Pension will be treated for tax, what are qualifying years, what is contracting out and some information on the deferral of the New State Pension.
UK State Pension Age will increase to age 68 between 2037 and 2039.
If you were born between 6th April 1970 and 5th April 1978 then your State Pension age will be between 67 years and 1 month and 68 years.
If you were born after 6th April 1978 then your State Pension age will be 68.
Specifically the age from which you can take your state pension will be determined by when you were born.
For the tax year 2020-21 this is £175.20 per week or £9,110.40 per annum based on 35 qualifying years.
This is rising from the following tax year 2021-22 to £179.60 per week or £9,339.20 due to the 2.5% guaranteed minimum increase from the triple lock.
⏰Timestamps
0:00 – Introduction
1:15 – When will I get my New State Pension?
2:25 – How much is the New State Pension?
4:00 – What are qualifying years?
5:27 – Is my New State Pension taxable?
6:21 – ‘Contracting out’ and the New State Pension.
7:53 – Deferring your New State Pension.
📹 ‘UK STATE PENSION AGE & FORECAST – How much and when will I get my UK STATE PENSION?’:-
⭐Check your State Pension Age here:
⭐Check the estimate of your State Pension here:
🗒 Please note:
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The information provided is based on the current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on my understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances.
This channel is for information and education purposes only. Any information or guidance given does not act as financial advice. Please consult a financial adviser if you are unsure in anyway.
Keep in mind that the value of your investments can go down as well as up, so you could get back less than you invest.
⭐ My aim is to provide education and guidance to help individuals understand pensions, investments and protection.
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Yes it's a big fraud of British taxpayers.. Improper state investment.
Military women like waspi deserve their pension. There is argument ppl not living longer. I lost 4 siblings none got to pension collections
Please can you help me? I am currently living in Thailand and have been for the last eight years. My pension was frozen eight years ago. I currently receive 123 Pounds/week. I am seriously considering moving back to the UK because of financial hardship. I understand that I will receive an increase immediately. My question is—-How long must I remain in the UK before the increase becomes permanent? Three months, six months: I just do not know. I do not want to cheat the government but I will if I am forced to. Please help me Edmund.
I want to work and may soon get a job How may days will it be suitable for me ?
Hello Thank you for the explanation. I hv a quick question. My dad worked 9 years n now he crossed his state pension age is he still can get state pension. He is still working but now the NI does not deduct. Can u guide wat to do
Can I back pay into my pension as I’ve only been in the country for 12 years
Max Fosh hates Ireland yes. The Irish parliament Anglo Irish Thomas. It never Irish Catholic no. England British government back you up Thomas.
I’m 16, started working as an apprentice joiner, I’ve been given a letter about state pension but I don’t think it is worth getting into yet
Edmund no one sir seems to be helping me. What do I do?? I sad that I am trying to make sure I am safe. These are troubled times sir, what can I do??
Still waiting, Edmund. Please answer how I get the shortfall, I have asked the questions, but have not gotten the answers, Sir. Yes, I panic I need to be at peace.
Mr Bailey. Nice to meet you. I follow your videos on YouTube and translate them to better understand them, since my mother tongue is Spanish. I would like to consult you and would be willing to pay for it if necessary. I am a settled Spanish citizen. I have one year of permanent work in a small English company that hires me for five years, but I am senseta and one year old. If I spend the next five years working and contributing my social security, can I retire in this country? I dare to ask for your advice and. Thank you in advance.
Edmund, I have asked the office how much my shortfall is, how much I have to pay and when do I have to pay. I AM PANICKING now sir??
Warning! Do Not Defer Your State Pension!
If you die without claiming it, your beneficiaries can only claim 3 months of backdated payments !! Another con by our deceiving government!
Edmund – you should have included this in your video.
Millennial woes is Martin sellner friend no politically. Martin sellner Habsburg Austrian is my friend yes. He cannot help you Thomas he Vienna Austria politically Thomas. The conservative party government did that to him yes.
Millennial woes Colin Robertson told me vote the Liberal Democrats politically Thomas. What is he politically the BNP Thomas he runs it in London England. He votes Conservative party he Wet Tory.
Art still runs Austrian government he never give that up politically Thomas. Art way better person for you Thomas. Did take out politically Red pill Germany yes UK general election it be tight politically Thomas.
Hi just have question if person came to UK and have only 7 years national insurance paid and now she is in pension age 65 could she work for another 3 years and pay national insurance contributions to get minimum pension after 10 years?
UK Liberal Democrats are better politically Thomas in winning power in England. Your sister as a nurse vote UK Liberal Democrats politically Thomas in UK general election in the future. Are conservative party in political trouble yes. Boris Johnson will resign Thomas. Tory party will replace him
Thanks for expanding this how do you cheek the company's you have worked for.