‘The state pension loophole that's given me £1,300 more per year for life’

November 1, 2016 | 5years | Retirement Planning News

People already drawing their state pension are being urged to consider a generous loophole that could boost their income by thousands of pounds a year in exchange for "unretiring".


The process - which critics say the Government does too little to publicise - is especially helpful for those in good health and who have sources of income in addition to their state pension.

Like many others, Priscilla Park Weir turned 60, only to discover her state pension was going to be far less than she imagined.

She took her entitlement, around £6,200 a year, for eight years before stumbling across a little-known way to up the income - by opting to forgo the payments for a period.

Mrs Park Weir's husband served in the Army, so the couple frequently moved, making it difficult for her to have an uninterrupted work record.

To continue reading this article follow the link: telegraph.co.uk


You are now departing from the regulatory site of Financial Services Scotland Limited. Neither Financial Services Scotland Limited or Personal Touch Financial Services Limited is responsible for the accuracy of the information contained within the linked site.