If you’re looking for extra money in retirement, as unfortunately too many retirees are, it’s worth checking that you’re claiming all the state benefits you’re entitled to. Surprisingly, millions of low-income retirees are not claiming maximum government support, often because they don’t know what is available. The pension credit isRead More →
(Adds details on stock market crash, potential increase in pension contributions, credit implications of investment losses) CHICAGO, March 24 (Reuters) – The stock market crash and economic fallout from the coronavirus has resulted in nearly $1 trillion in investment losses for U.S. public pension funds, Moody’s Investors Service said onRead More →
The global rout in financial markets this year is putting pressure on state and local government pension funds in the United States, many of which were already struggling to pay future retirement benefits for public sector workers. The hit to returns from pension systems for firefighters, police and civil servantsRead More →
The number of households with beneficiaries over the age of 75 applying for pension credit continued to decline in 2019, following the trend observed since 2015. In August 2019, 926,494 households whose principal applicant was over 75 years of age received a pension credit. This represents a decrease of 25,035,Read More →
The new state pension was introduced in 2016, replacing the basic state pension for those who retire after April 6 of the same year. But to increase the state pension, you can also apply for a pension credit. What is the state pension? The new full pension is currently worthRead More →
Among the poorest older people, two in five do not get the pension credit, but claims are expected to rise as those over 75 try to retain the right to free TV licenses. The take-up rate for struggling pensioners has barely budged in years, with around 1.2million families losing aroundRead More →