A new report says that the value of public sector pensions will be cut by up to a third
The report says the NHS, teachers, local government and civil service pensions will be worth less after government changes.
The coalition government is introducing a number of changes to public sector pensions, which will mean that people who are members of the scheme will see their pensions reduced in value by up to a third in the future. Far more women than men are members of public sector pension schemes so they will be affected by these changes more. The Pensions Policy Institute, an independent research charity, says many will be worse off, although people on a lower salary will benefit.
State pension and women: your state pension when you're bringing up children
How is your state pension protected when you have children, and how does the old system of Home Responsibilities Protection work?
If you have children and give up work to look after them, you won't pay National Insurance (NI) through your wages, but you will earn credits for NI which will count towards your state pension. Before this NI credits system was introduced in 2010, women bringing up their children were entitled to Home Responsibilities Protection. I'll explain both systems in this article and what you should watch out for.
If you’re travelling around the UK or abroad, what discounts can you get as a pensioner?
Bus, train and underground discounts are available, and you may be able to get cheaper entry to museums and attractions.
If you’re considering a trip in the UK or going further afield, it’s worth knowing what discounts you may be entitled to if you’re retired. You can save money on rail fares, bus fares and – often – on entry to museums and other attractions as well.
The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice. You should always obtain independent financial advice.
