The new State Pension entitlement

As many of you will have heard via the national media, the new State Pension began on the 6th April this year.

Although this pension entitlement does not directly form part of employer sponsored benefits packages, it is nevertheless a cornerstone of the financial planning that your employees will be undertaking for their retirement years. It is therefore important that employees understand the new entitlement and have access to information and links as appropriate.

So with this in mind we would encourage employers to share this link with employees. The link will take your employees to the GOV.UK website where a summary of the new benefit, together with its calculation and limitations are explained for most scenarios.

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Many employers (and their workforces) will of course want further information on this issue. This can be included within existing or new Financial Education in the workplace offerings. Please speak to your usual Jelf consultant for more information on this issue.

For the full original article and other similar posts, please visit the Jelf Group blog.