Martin Lewis issues update over State Pension becoming 'means …

Oct 18, 2024 · Martin Lewis issues update over State Pension becoming 'means tested' Sign up to our free email alerts for the top money saving stories sent straight to your e-mail More Newsletters

£470
OFF

DWP Gives Update On Plans To Means-test The State Pension After …

4 weeks from now

Nov 5, 2024 · This increase will benefit millions of older people claiming both the new and basic state pension. Those on the full new state pension could receive an uplift of up to £470 over …

gbnews.com

£8000
OFF

Martin Lewis Believes State Pension Could Become Means Tested

4 weeks from now

Oct 18, 2024 · A concerned listener named Sue brought up her father's dilemma of needing to spend £8,000 to purchase additional NI years and the risk of the State Pension being means …

express.co.uk

£1
OFF

Should The State Pension Be Means-tested? - MoneyWeek

4 weeks from now

Jul 23, 2024 · News A government inquiry has said that up to 200,000 women could be owed a collective £1.7bn in compensation, with the average woman being owed £13,500 in underpaid …

moneyweek.com

FAQs about Martin Lewis issues update over State Pension becoming 'means … Coupon?

Could state pension become means-tested in the future?

Though the Money Saving Expert founder said he would "campaign against it" if it ever came to pass. Martin Lewis thinks it is possible that State Pension could become means-tested in the future, although he considers it an "unlikely" scenario. ...

Is the state pension a means-tested pension?

The state pension is not currently means-tested. Britain's approach to state pensions differs to countries like Australia, where it is means-tested. Rather than being means-tested, eligibility for the state pension in Britain is based on people's national insurance record. ...

Should a state pension be tested?

While some people have, or are on course to have, sufficient private pension savings to allow for a comfortable retirement, there are millions who are or will be heavily dependent on the state pension. This might suggest that means testing is a possible route but this is likely to be unpopular. ...

Could state pension be reduced by means testing?

The reduction by means testing could effectively mean on some levels of income no state pension would be paid or the level of state pension paid would be reduced gradually (tapered) based on income. What do YOU know about state pension? Myths debunked and SIX key questions answered ...

How does means testing of a state pension work?

We do have some evidence of how means testing of a State Pension works if we look across the globe. Australia has one of the most comprehensive means-tested pension systems in the world. Their Age Pension is available to citizens over 67, but eligibility is determined based on both income and assets. ...

Should means testing be expanded to a broader state pension system?

Expanding means testing to the broader State Pension system would be a much larger change. We do have some evidence of how means testing of a State Pension works if we look across the globe. Australia has one of the most comprehensive means-tested pension systems in the world. ...