etirement pension
Retirement pension is payable to men and women at age 65 (men)/60 (women) provided they satisfy the contribution conditions and have retired from regular work.
When a man reaches 70 (65 for a woman) retirement pension is payable whether or not retirement has taken place.
A married woman can get a retirement pension on her husband's con- tributions when he retires and draws his pension provided she is then over 60 (and has herself retired from regular work other than her domestic duties) or she has reached age 65. If a woman qualifies for a pension on her own and her husband's contributions she receives whichever pension is the higher. From April 1979 retirement pensions will be earnings-related-see Part 4 on page 39.
The conditions
The contribution conditions are given in leaflet NI15 which also explains the meaning of "retirement”.
Amount payable
The standard weekly rate is £17.50; or
where a married woman qualifies on her husband's contributions the standard rate is £10.50.
Reduced rates are payable where the contribution conditions are only partially satisfied.
Increases payable for dependants are:
wife/adult dependant £10.50
first child
each other child
£7.40; and£6.10 for each child from April 1978 £6.90
when child benefit is increased
Increases of pension
Deferred retirement: by deferring retirement beyond 65 (60 for a woman) extra pension can be earned.
Before April 1975 an extra 6p a week (now increased to 11p a week) could be earned for every 9 flat-rate contributions actually paid for weeks of employment or self-employment between 65 and 70 (60 and 65 for a woman). After April 1975 the pension is increased by 1% of its rate (1% from April 1979) for every 6 days (excluding Sundays) for which pension is given up between 65 and 70 (60 and 65 for a woman). But there must be at least 48 such days (42 days from April 1979) or at least one increase must have been earned before 6 April 1975.
A married man can also earn extra pension for his wife. A widow also gets half of any extra pension earned by her husband. (From April 1979 she gets the whole of any such increase.)
Graduated pension: the amount payable depends on the total of graduated contributions paid between 6 April 1961 and 5 April 1975 (when graduated contributions ceased). A man gets 24p a week for each "unit" of £7.50 graduated contributions paid, and a woman gets 24p a week for each “unit of £9 paid. An odd half “unit” or more in the final total is rounded up.
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