Employee reaches retirement age

Produced by Tolley in association with

Employment Tax

Guidance

Retirement age, or more precisely, State Pension Age, is a ‘movable feast’. This will be the normal situation as the State Pension Age is increased; current legislation provides for phased increase to age 68.

Retirement age alignment ― effect on women

Since April 2010, the state retirement age for women has been increasing in order to align it with the state pension age for men, currently set at 65. This only affects women born on or after 6 April 1950.

See Example 1.

The timetable for increasing women’s state pension age to 65 was changed following the decision to increase state pension age for both men and women to 66 (see below).

From April 2016, the process of alignment at age 65 was accelerated and completed in November 2018. The timetable can be viewed on the GOV.UK website.

This timetable shows the state pension age dates for women under:

•
the original proposals to increase their state pension

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Vince Ashall

Payroll Consultant & Trainer at VA Payroll Services

Involved in payroll for more years than I care to remember! Initially in the NHS, where i oversaw the development of the NHS's bespoke payroll system (SPS Standard Payroll System), and latterly in the private sector. Served for 13 years as a MNT for a private sector defined benefit pension scheme. Have had articles published in payroll publications and and provide updates for various publishers. Fellow of the CIPP and gained a MSc in Payroll & Business Management in 2002. Now a self employed payroll and pensions consultant

Popular Articles

Owner-Managed Businesses

Allowable deductions for employee-related expenses

Allowable deductions for employee-related expensesThis guidance note covers the tax treatment of some common types of trading expenditure relating to employees. Some of these are disallowable under general principles, for example the wholly and exclusively test or capital versus revenue expenditure.

14 Sep 2022 09:49 | Produced by Tolley Read more

Trusts and Inheritance Tax

BPR ― trading and investment businesses

BPR ― trading and investment businessesIntroductionThe basic qualification rules for business property relief (BPR) are illustrated in the Flowchart ― trading or investment business for BPR purposes.For an overview of BPR, see the BPR overview guidance note.Relevant business propertyThe main

14 Jul 2020 15:36 | Produced by Tolley Read more

Owner-Managed Businesses

Sales, advertising and marketing

Sales, advertising and marketingExpenditure on sales, advertising and marketing activities may include amounts which are disallowable for the purposes of calculating trading profits. This may be because the expenditure is:•capital in nature (see the Capital vs revenue expenditure guidance note)•not

14 Jul 2020 13:28 | Produced by Tolley Read more

��˾��ҹ��