News
National Minimum Wage, Women's Retirement Ages and State Pensions
25th February, 2010
NATIONAL MINIMUM WAGE (NMW)
From 1 October 2010 the NMW rates and age ranges will change to the following:-
- Age 22 and over - £5.80 per hour (an increase from £5.73)
- Age 18 to 21 - £4.83 per hour (an increase from £4.77)
- Age 16 and 17 - £3.57 per house (an increase from £3.53)
WOMAN’S RETIREMENT AGE
The State Retirement age for women will change over the next 10 years starting in 2010, to equalize with the men’s retirement age of 65.
Women born before 1950 are not affected and will still retire at 60.
Women born between 6 April 1950 and 5 April 1955 will have a retirement age of between 60 and 65.
Women born after 6 April 1955 will retire at 65.
QUALIFYING FOR STATE PENSIONS
The contribution period was previously 39 years of NI contributions for women and 44 years of NI contributions for men. This has now been changed to 30 years of NI contributions for all those who reach the state retirement age on or after 6 April 2010.
For any further information regarding this please refer to the Directgov website, or contact Deb Morgan at Morgan Harris on 01993 700010.
Deb Morgan
Morgan Harris
