Family Guide to the National Insurance Scheme
1948 1948 1940s 32 pages : illustrations 42. What Happens if I Stay at Work After Pension Age? There are several advantages. You can still get Unemployment and Sickness Benefit (but see para. 44) up to the age of 70 (65 for a woman), and also earn a higher rate of pension at that age, or if you reti...
| Institution: | MCR - The Modern Records Centre, University of Warwick |
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| Language: | English English |
| Published: |
[London] : His Majesty's Stationery Office
[1948]
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10796/951A47C7-84C2-40B1-B8D3-A5BFAD984A96 http://hdl.handle.net/10796/CC5B8854-8920-4681-967A-8DF9B906A00C |
| Summary: | 1948
1948
1940s
32 pages : illustrations
42. What Happens if I Stay at Work After Pension Age? There are several advantages. You can still get Unemployment and Sickness Benefit (but see para. 44) up to the age of 70 (65 for a woman), and also earn a higher rate of pension at that age, or if you retire before. For every 25 contributions you pay as an employed or self-employed person during the five years after reaching pension age, your Retirement Pension will be increased by 1s. a week. The rate of your wife's Retirement Pension will be increased in the same way for the contributions you pay while you are both over pension age. At the age of 70 (65 for women) the full rate of Retirement Pension then earned will be paid, even though the pensioner goes on working. NOTE: These arrangements do not apply to people already over pension age on 5th July 1948, or to the late-age entrants described in para. 45. 43. Contributions and Work After Retirement. Contributions are not paid by retirement pensioners except in Class 1 employment when they pay 4d. a week (3d. for women) for Industrial Injury Insurance, and the employer pays his usual contribution. The Retirement Pension of a man under 70 or a woman under 65 will be reduced by 1s. for every 1s. earned above 20s. in any week. Over these ages the pension is not reduced because of earnings. 44. Make Your Claim in Good Time. You can make a claim at your National Insurance Office (at the Area Office of the Assistance Board, before 5th July 1948) four months before pension age. Even though you are going on working you should make a preliminary claim at that time, because Sickness and Unemployment Benefits can only be paid after pension age to those whose right to pension when they retire has been proved. The preliminary claim will also enable your pension to be paid promptly when you give notice of your retirement later on. 25
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| Physical Description: | TEXT |