UUÂãÁÄÖ±²¥

Employee reaches retirement age


Produced by Tolley in association with
Employment Tax
Guidance

Employee reaches retirement age


Produced by Tolley in association with
Employment Tax
Guidance
imgtext

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:

  1. •

    the original proposals to increase their state pension

Continue reading
To read the full Guidance note, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL
Vince Ashall
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

Powered by
  • 06 Dec 2022 12:03

Home/ Tolley Tax Guidance/ Employment Tax / Ending employment

Popular Articles

Owner-Managed Businesses

Allowable expenses for property businesses

Allowable expenses for property businessesGeneral itemsMany of the principles applying to allowable expenses for property businesses are similar to those that apply for trading and the rules for individuals in a property business are generally the same as for companies with some exceptions which are

14 Jul 2020 13:26 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax Read more Read more
tag-icon Tax Returns
Trusts and Inheritance Tax

Payments to trust beneficiaries

Payments to trust beneficiariesThis guidance note considers the trustees powers to make payments and whether the payment made is income or capital.This guidance note is designed to give outline and background for accountants and tax advisers who deal with clients establishing trusts. It is not

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Corporation Tax

Terminal trading loss relief

Terminal trading loss reliefTerminal loss relief for trade losses in the final 12 monthsTrading losses incurred by a company in the final 12 months leading up to the discontinuance of trade may be carried back for up to three years from the period beginning immediately before that 12-month period.

14 Jul 2020 13:49 | Produced by Tolley Read more Read more