There are many non-working people like mothers and care-takers who choose to stay at home instead of going out to work. They have been denied state pension benefits in the UK as only working class people are applicable to get its benefits after retirement. The good news is that the state pension is soon going to be revised to give full benefits to all the non-working class people in the UK. The upgraded state pension system will be much simpler than the chaotic current version. The UK government has announced the decision and will publish the full details of the pension reform in couple of weeks.
The new and revised plan will cover mothers and care-takers that retire from 2015 and treat them as if they had worked throughout their lives. The pension’s secretary announced to give full benefits to them for a better retirement life. In the current scheme, people who do not work for full 30 years receive a reduced pension entitlement for each year out of the employment. This will be revised and more people will be able to avail better benefits in the future. This plan will be very beneficial for women who have broken record of employment. They are full-time busy handling house hold chores, taking care of children and running homes. With the advent of this new revised state pension plan even they would be able to build a good retirement future.
If an individual whether working or non-working wants to compare and invest in any kind of pension funds, it is advisable to take regular pension reviews. A pension review can help you look at all the options in the market. A pension review company generally has a team of professional Independent Financial Advisors (IFA) who will discuss in detail the individual’s pension related concern and his current financial situation in the life. Based on this discussion they will conduct a survey in the market to help him find the right pension scheme for his benefit. They will make sure that this particular pension plan meets the individual’s personal needs and requirements in the future. The scheme should be low charges in running and give good return benefits at the time of retirement. This review will also save the person from investing in wrong pension plans and becoming a victim of scams. Researching and understanding different plans in detail is important. All these pension related news should be followed to finalize the best plan to reap benefits in the UK.
State pension plan news: Upgraded for non working class