MMP135: State Pension Changes in 2016
The Meaningful Money Personal Finance Podcast
Pete Matthew
4.9 • 1.7K Ratings
🗓️ 11 November 2015
⏱️ 24 minutes
🧾️ Download transcript
Summary
State Pensions are changing. Again. In this podcast I’ll cover all you need to know about the State Pension changes in 2016, and show you how to make sure you have maximised your entitlement to this important state benefit…
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Sponsor Message
This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk
In this session you will discover:
- What the new State Pension will look like in 2016
- The impact National Insurance contributions has on the your pension entitlement
- Why "contracting out" will reduce the pension you get one day
- How to get a State Pension forecast
- How to top-up in the special window of opportunity between now and April 2017
- How to buy extra qualifying years through voluntary NI contributions
- How to consider the State Pension Changes in 2016 in the context of your wider retirement planning
I realise that this subject will only be immediately relevant to a smallish proportion of my listeners, but it’s impossible to have every episode serve everyone listening. If this does affect you and you have any questions, then do let me know. Otherwise, remember that retirement is a very, very long holiday with lots and lots of free time to fill. That’ll cost you, so you need to get things in place to enjoy it to the full.
Join the conversation
I love to read and respond to your comments, so please do join in and share. Question: Are you affected by the State Pension changes in 2016? If so, how? And what are you doing about it?
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Transcript
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| 0:00.0 | Hi folks and welcome to the Meaningful Money podcast session number 135. |
| 0:05.7 | You're not trying to draw a psycho pension. You really are crazy. |
| 0:15.2 | This is the podcast dedicated to helping you put your finances in order. My name is Pete Matthew and I'm |
| 0:23.7 | going to share with you everything you need to know and everything you need to do to secure your |
| 0:27.9 | financial future. I'm here to help you make sense of money. Hello, hello, welcome back. |
| 0:41.1 | Great to have you with me once again. |
| 0:43.2 | This is the Meaningful Money podcast, a weekly show dedicated to helping you work out how your finances should be arranged and sort of plan your future, stuff like that. |
| 0:52.9 | So pretty varied subjects week by week. |
| 0:55.7 | And today it's about state pension changes. Yes, they're changing. Again, again. |
| 1:01.5 | In today's show, I'm going to cover the changes that you need to know about and how to make |
| 1:04.8 | sure you have maximized your entitlement to this really, really important state benefit. |
| 1:10.6 | State pension comes up for, you know, quite a bit of flack sometimes, but really, really important state benefit. State pension comes up for, |
| 1:12.4 | you know, quite a bit of flack sometimes, but it's really important and it will form the backbone |
| 1:16.5 | to a lot of people's retirement income. So it's important you understand it, how it works, |
| 1:20.7 | how you get it, and the changes that are happening and how you maximize your entitlement. |
| 1:25.6 | So as usual, after I've talked about that, I'll look at |
| 1:28.6 | the most recent reviews which have been left. I'll announce what we're going to be talking about |
| 1:31.3 | next time, a couple of bits of news as well. But before we get into any of that, remember, this |
| 1:35.4 | podcast is brought to you with the help of seven investment management who are a firm of investment |
| 1:39.6 | managers based in London. They specialize in multi-asset investing, which brings institutional level investing |
| 1:45.8 | techniques to ordinary people, just like you and me. Seven-I.M. continue put their name to my show and |
| 1:51.6 | to the site because they believe in what I'm doing, which is trying to get decent, easy to understand |
... |
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