Jaminan Hari Tua Bahasa Inggris

Introduction

In the United Kingdom, the social security system provides a range of benefits to individuals who are eligible. Among these benefits is the state pension, which is a form of financial support for individuals who have reached retirement age and no longer work. The state pension is part of the social security system’s old-age provisions, and it is commonly referred to as the UK pension or the pension for retirement.

In this article, we will discuss in depth the state pension or Jaminan Hari Tua Bahasa Inggris in the United Kingdom, its eligibility criteria, how the amount of pension is calculated, and other important information related to it.

Eligibility Criteria

In the UK, the state pension is available to individuals who have reached the state pension age, which is currently 66 years old. However, the government is planning to increase the state pension age to 67 by 2028 and 68 by 2046. Additionally, individuals who have paid National Insurance contributions or received National Insurance credits for a certain number of years are eligible for the state pension.

To qualify for a full state pension, a person must have paid or received credits for 35 years. For individuals who have paid or received credits for less than 35 years, the amount of pension will be reduced.

How the Amount of Pension is Calculated

The amount of state pension a person receives is determined by their National Insurance record. A National Insurance record is a record of an individual’s National Insurance contributions and credits. The amount of state pension a person receives is based on the number of qualifying years they have on their National Insurance record.

For individuals who have paid or received credits for 35 years, the full new state pension is £179.60 per week (as of April 2021). However, for individuals who have paid or received credits for less than 35 years, the amount of pension will be reduced. The reduction is calculated on a pro-rata basis.

Individuals who reached state pension age before April 6, 2016, are entitled to the basic state pension, which is £137.60 per week (as of April 2021). The amount of basic state pension a person receives is also based on their National Insurance record.

Other Important Information

Individuals who are eligible for the state pension can choose to defer their pension. Deferring means that a person chooses not to take their state pension when they reach state pension age. Instead, they can choose to defer their pension and receive a higher pension amount when they eventually claim it.

For each year that a person defers their state pension, they will receive an increase of 1% in their pension amount. If a person defers their state pension for at least nine weeks, they will receive an increase of 1% for every nine weeks.

It is important to note that in the UK, the state pension is taxable income. Individuals who receive the state pension may have to pay tax on their pension if their total income (including the state pension) exceeds their personal allowance, which is currently £12,570 per year.

Conclusion

The state pension or Jaminan Hari Tua Bahasa Inggris is an important part of the social security system in the United Kingdom. It provides financial support to individuals who have reached retirement age and no longer work. Eligibility for the state pension is based on an individual’s National Insurance record, and the amount of pension a person receives is determined by the number of qualifying years they have on their record.

Individuals can choose to defer their state pension, and for each year they defer, they will receive an increase in their pension amount. It is important to note that the state pension is taxable income, and individuals who receive the state pension may have to pay tax on their pension if their total income exceeds their personal allowance.

Overall, the state pension is an important benefit that provides financial security to individuals in retirement. By understanding the eligibility criteria, how the amount of pension is calculated, and other important information related to the state pension, individuals can better plan for their retirement and ensure that they receive the support they are entitled to.