retirement can never start too early, especially as the coronavirus pandemic continues to have a financial and economic impact across the country.State Pension is a benefit payment which often becomes a person's main source of income in later years.
In 2019, data from the Department for Work and Pensions (DWP) revealed that of the 1.1 million people who claim the new State Pension, just under 500,000 (44%) receive the full amount of £175.20 a week.The amount of State Pension people will receive depends on how long they have been making National Insurance (NI) contributions towards it.In October this year, the UK Government raised the State Pension age to 66 for both men and women with plans to increase this to 68 over the coming years.But,.
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