Employee reaches retirement age

Produced by Tolley in association with

Employment Tax

Guidance

Retirement age, or more precisely, State Pension Age, is a ‘movable feast’. This will be the normal situation as the State Pension Age is increased; current legislation provides for phased increase to age 68.

Retirement age alignment ― effect on women

Since April 2010, the state retirement age for women has been increasing in order to align it with the state pension age for men, currently set at 65. This only affects women born on or after 6 April 1950.

See Example 1.

The timetable for increasing women’s state pension age to 65 was changed following the decision to increase state pension age for both men and women to 66 (see below).

From April 2016, the process of alignment at age 65 was accelerated and completed in November 2018. The timetable can be viewed on the GOV.UK website.

This timetable shows the state pension age dates for women under:

•
the original proposals to increase their state pension

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Vince Ashall

Payroll Consultant & Trainer at VA Payroll Services

Involved in payroll for more years than I care to remember! Initially in the NHS, where i oversaw the development of the NHS's bespoke payroll system (SPS Standard Payroll System), and latterly in the private sector. Served for 13 years as a MNT for a private sector defined benefit pension scheme. Have had articles published in payroll publications and and provide updates for various publishers. Fellow of the CIPP and gained a MSc in Payroll & Business Management in 2002. Now a self employed payroll and pensions consultant

Popular Articles

Personal Tax

VAT on property disposals

VAT on property disposalsThis guidance note provides an overview of the VAT treatment of selling property that is located in the UK. The UK includes Great Britain, Northern Ireland and the territorial sea of the UK. The sale of any land or building located outside the UK is outside the scope of UK

14 Jul 2020 13:57 | Produced by Tolley Read more

Value Added Tax

Payments on account (POA)

Payments on account (POA)This guidance note provides and overview of the payments on account regime (POA). More in depth commentary can be found in De Voil Indirect Tax Service V5.110.What are payments on account?VAT registered businesses with an annual VAT liability of more than £2.3m are required

14 Jul 2020 12:52 | Produced by Tolley Read more

Trusts and Inheritance Tax

Corrections and amendments to the IHT account

Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the

14 Jul 2020 11:20 | Produced by Tolley Read more

��Ӱ��