{"id":53570,"date":"2015-02-07T00:15:03","date_gmt":"2015-02-07T00:15:03","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=01f199d0ebdea64ae73e555a648165d5"},"modified":"2015-02-07T00:15:03","modified_gmt":"2015-02-07T00:15:03","slug":"press-release-millions-more-offered-free-pension-statement","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=53570","title":{"rendered":"Press release: Millions more offered free pension statement"},"content":{"rendered":"
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A free government service to help millions of people better understand their State Pension is being expanded from today (7 February 2015).<\/p>\n

Anyone over the age of 55 is now able to request a personalised State Pension statement, giving them an estimate of what they are likely to receive based on their current National Insurance (NI<\/abbr>) record. Until this week the scheme was only open to people over the age of 60.<\/p>\n

This further roll out of the service \u2013 which has already issued more than 76,000 statements since its launch in September last year \u2013 comes ahead of ground-breaking new pension freedoms which come into effect from April.<\/p>\n

Extending the service will equip people with vital information as they consider their options under the new rules.<\/p>\n

Minister for Pensions Steve Webb said:<\/p>\n

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I\u2019ve always been clear that people should be given the freedom to make their own financial decisions \u2013 but it\u2019s crucial everyone has all the information to help them to make the right choices.<\/p>\n

We are making sure people have the resources and support they need ahead of the new freedoms in April, so they can take the time to plan how to best use their pension saving for a secure retirement.<\/p>\n

Now we have expanded the statement service, there is no reason why anyone who wants to exercise their new pension freedoms on day one shouldn\u2019t be able to. That said, there is nothing magical about 6 April, and many people will want to take their time, both to consider fully all the options and to see what new financial products come on the market during 2015.<\/p>\n<\/blockquote>\n

A State Pension statement gives individuals an estimate of how much they may get under the new State Pension based on their current NI<\/abbr> record. It also provides helpful information explaining how this position may change with further NI<\/abbr> contributions or credits.<\/p>\n

Before people take advantage of the new freedoms, they will also be encouraged to seek free and impartial guidance on their retirement choices from the new government service, Pension Wise. This will encourage users to obtain a pension statement, as well as providing other information through face-to-face sessions for those who want them.<\/p>\n

More information<\/h2>\n

The state pension statement service has been extended to include people aged 55 and over. Statements give individuals an estimate of how much they may get under the new State Pension based on their current National Insurance record.<\/p>\n

About 5.5 million people are now able to request a pension statement under the new rules.<\/p>\n

The statement offers an estimated amount, not a guaranteed amount, as it is based on an individual\u2019s current NI<\/abbr> record and doesn\u2019t take into account future NI<\/abbr> contribution years they may build.<\/p>\n

People under the age of 55 can still get a statement that gives an estimate of their State Pension based on the rules of the existing scheme. Their statement explains that, in most cases, the estimate will be the least amount of State Pension that they may get when they reach State Pension age.<\/p>\n

We will gradually extend the State Pension statement service until everybody of working age will be able to request one.<\/p>\n

The new State Pension comes into effect in April 2016.<\/p>\n

How to get a State Pension statement<\/h2>\n

You can get a State Pension statement online<\/a>.<\/p>\n

Newcastle Pension Centre (Futures Group)<\/h3>\n

Telephone: 0345 300 0168
\nTextphone: 0845 300 0169
\nOutside the UK: +44 191 218 3600
\nMonday to Friday, 8am to 6pm (except public holidays) <\/p>\n

Write to us or apply by post<\/h3>\n

Apply for a State Pension statement using form BR19<\/a>, fill it in, print it and post it to the address below.<\/p>\n

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The Pension Service 9
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Mail Handling Site A
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Wolverhampton
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WV98 1LU
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United Kingdom
\n<\/p>\n<\/div>\n<\/div>\n

Pension Wise<\/a> is a free government service offering guidance to people over 55 about how they can make the most of the new pension freedoms. <\/p>\n

Contact Press Office<\/h2>\n

Media enquiries for this press release \u2013 \t0203 267 5134<\/p>\n

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Press Office<\/h3>\n
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\nCaxton House
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\nTothill Street<\/span>
London<\/span>
SW1H 9NA<\/span>\n<\/p>\n

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\n London Press Office (national media and London area enquiries only \u2013 not questions about personal claims)<\/span>
\n 020 3267 5144\n <\/p>\n

\n Out-of-hours (journalists only)<\/span>
\n 076 59 108 883\n <\/p>\n

\n England and Wales (local media enquiries)<\/span>
\n 029 20 586 then 097 or 098 or 099\n <\/p>\n

\n Scotland (local media enquiries)<\/span>
\n 0131 310 1122\n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

Follow DWP on:<\/p>\n