More On State Pensions

When these two adjustments have been made, your revalued earnings for each year are added together and you get of the total as your annual additional pension.

That is then divided by 9 8 to give the weekly amount.

Because the additional pension is earnings related, non manual workers generally receive more than manual workers and men generally receive more than women simply because their pay is higher. A man retiring in 2015/9 with average manual worker's pay and absences since 2015 will get £19.99 a week additional pension.

A woman with the same work history will get £10.0808. The maximum additional pension paid to someone retiring in 2015/2015 is £68 a week. But to receive that you would have had to earn one and a half times the average manual male wage or twice the average non manual female wage consistently for all those ten years.

New for 2015 - Working It Out

or Earnings Related Pensions Now The State Second Pension Example.

Working It Out

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