Timeline of changes to the age at which eligible persons receive the United Kingdom State Pension.
Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload.
A pension is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular installments for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment prior to retirement.
Sir George Iain Duncan Smith, often referred to by his initials IDS, is a British politician who served as Leader of the Conservative Party and Leader of the Opposition from 2001 to 2003. He was later Secretary of State for Work and Pensions from 2010 to 2016. He has been Member of Parliament (MP) for Chingford and Woodford Green, formerly Chingford, since 1992.
Stephen James Dorrell is a British Liberal Democrat politician. He served as the Conservative Member of Parliament (MP) for Loughborough between 1979 and 1997 and then for Charnwood from 1997 to 2015.
Pierre Paul Henri Gaston Doumergue was a French politician of the Third Republic. He served as President of France from 13 June 1924 to 13 June 1931.
Sir Steven John Webb is a British pensions commentator who was previously Liberal Democrat Member of Parliament (MP) for Northavon from 1997 to 2010 and for Thornbury and Yate from 2010 to 2015. He was the Minister of State for Pensions in the coalition government of David Cameron.
This article lists the statutory retirement age in different countries. In some contexts, the retirement age is the age at which a person is expected or required to cease work and is usually the age at which they may be entitled to receive superannuation or other government benefits, like a state pension. Policy makers usually consider the demography, fiscal cost of ageing, health, life expectancy, nature of profession, supply of labour force etc. while deciding the retirement age. The increase in life expectancy is used in some jurisdictions as an argument to increase the age of retirement in the 21st century.
In the United Kingdom, the Retail Prices Index or Retail Price Index (RPI) is a measure of inflation published monthly by the Office for National Statistics. It measures the change in the cost of a representative sample of retail goods and services.
A self-invested personal pension (SIPP) is the name given to the type of UK government-approved personal pension scheme, which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and Customs (HMRC).
The State Pension is part of the United Kingdom Government's pension arrangements. Benefits vary depending on the age of the individual and their contribution record. Anyone can make a claim, provided they have a minimum number of qualifying years of contributions.
Pensions in the United Kingdom, whereby United Kingdom residents have some of their wages deducted to save for retirement, can be categorised into three major divisions - state, occupational and personal pensions.
Rosalind Miriam Altmann, Baroness Altmann, CBE is a British life peer, leading UK pensions expert, and political campaigner. She was appointed to the House of Lords following the 2015 general election as a Conservative, but describes her work both before and after the election as being politically independent, championing ordinary people and social justice.
The National Pension System (NPS) is a voluntary defined contribution pension system in India. National Pension System, like PPF and EPF is an EEE (Exempt-Exempt-Exempt) instrument in India where the entire corpus escapes tax at maturity and entire pension withdrawal amount is tax-free.
Catherine McKinnell is a British Labour politician serving as Member of Parliament (MP) for Newcastle upon Tyne North since 2010.
Guy Thomas Opperman is a British Conservative Party politician, who was first elected at the 2010 general election as the Member of Parliament (MP) for Hexham.
Pensions in Norway fall into three major divisions; State Pensions, Occupational Pensions and Individual or personal Pensions.
Pensions in Spain consist of a mandatory state pension scheme, and voluntary company and individual pension provision.
The National Social Assistance Programme (NSAP) is a Centrally Sponsored Scheme of the Government of India that provides financial assistance to the elderly, widows and persons with disabilities in the form of social pensions.
The Pension Fund of the Russian Federation (PFR) is the principal national pension fund in Russia. It is the largest organization of Russia to provide socially important public services to Russian citizens. Founded December 22, 1990 decision of the Supreme Soviet of the RSFSR No. 442-1 "On the organization of the Pension Fund of the Russian Federation". The fund has branches across all Federal Subjects of Russia.
Women Against State Pension Inequality (WASPI) is a voluntary UK-based organisation founded in 2015 that campaigns against the way in which the state pension age for men and women was equalised. They call for the millions of women affected by the change to receive compensation.