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| Industry News |
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Pensions Act 2007
November 2007
The Pensions Bill received Royal Assent in July 2007. The main changes to be introduced by the Act are as follows:
- From the 6th April 2010 the number of years required to obtain the full basic state pension will be reduced to 30 years for both men and women.
- From 2012 the state pension will be calculated with reference to earnings, likely resulting in an increase of the basic state pension.
- A phased increase in the age men and women receive pension will be increased to 68 years by 2048.
Source: REC Legal Bulletin – October/November 2007
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