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Home » Business And Finance Articles » Government Benefits Helping You In Retirement

Government benefits – helping you in retirement

Unless you've managed to build up a large private pension or have a great deal of savings, it's not always easy to get by in retirement when you're no longer earning. There are various ways in which the government can help give people of pension age enough money to live on â€" here's a concise guide to some of the main benefits.

State pension â€" this is available to men over 65 and women over 60 (increasing to 65 by 2020), although eligibility for the full state pension depends on whether you or your spouse/partner have accumulated sufficient 'qualifying years' through national insurance contributions (NICs). You'll need to have worked approximately 90% of your adult working life in order to do so. People who have been out of work to bring up children or care for other family members are given 'Home Responsibilities Protection' to make up for lost NICs, and people who receive jobseeker's allowance and income support will also be given credits while claiming benefit. If you don't have enough NICs to be eligible for the full basic state pension, but have at least 25% of the qualifying years, you'll receive an amount somewhere between the minimum and the maximum. If you have less than 25%, you normally won't be eligible to claim any state pension, but you may be able to get financial help in other ways, such as pension credit or the Over 80 pension.

Pension credit â€" you may qualify to receive pension credits to top up your income if it is very low. Pension credits are made up of two elements: guarantee credits and savings credits. Guarantee credits are available to single people over 60 who have an income of less than £114.05 per week, or couples over 60 with an income of less than £174.05 per week. If eligible, you'll receive top-ups to bring your income up to these levels. Savings credits are available to individuals over 65 whose weekly income is less than £159 or couples over 65 whose weekly income is less than £233. If you qualify, you'll receive £17.88 per week if you're single or £23.58 if you're a couple. Payments can be made directly into your bank account. Other benefits are not taken into consideration when calculating eligibility, and you may also qualify to receive other benefits if you're on pension credits, such as housing and council tax benefits.

Over 80 pension â€" if you're over 80 and on a low income because you don't get the basic state pension or receive less than £50.50 per week from your state pension, and as long as you've lived in the UK for at least 10 years up to your 80th birthday, you'll be able to claim an over-80 pension, which will top up your income to £50.50 per week. It is considered taxable income and will be included as part of your income if you apply for other benefits. Again, you can receive payments directly into your bank account.

Cold weather payments â€" it can be very expensive trying to keep your home warm enough during periods of extremely cold weather. If you're on a low income, the government can provide cold weather payments to help you pay your fuel bills. If the temperature drops to 0 degrees Celsius or below for seven days in a row between 1st November and 30th March, you'll automatically receive payments if you're eligible â€" normally when you're also receiving pension credit.

Winter fuel allowance â€" people aged over 60 can claim winter fuel allowance to help heat their home. The amount varies depending on personal circumstances, up to a maximum of £300. You'll automatically receive your allowance with your pension payments if you receive a pension. If you're not receiving a pension, you'll need to contact the government Pension Service in order to apply. It has a winter fuel payment department for processing claims.

Bus pass â€" when you reach 60 you'll be able to apply for a bus pass from your local council, allowing free off-peak travel across the country. The application process varies between council areas. Get in touch with your local council to find out how to apply.

Free or concessionary television licence â€" everyone over the age of 75 is entitled to a free television licence, which covers anyone else also living at the same address. People aged 60 or over living in residential care homes can apply for a concessionary licence fee of £5 through the administrator of care home in which they live.

And here is another random article you might be interested in...

Why Can't You be More Like Me?

Here is a non-scientific, but fun way to see which style you may be. Read the poem below and then identify which one of the styles is most like you. You will also start to see and understand the behavioral style of other people around you just from reading the poem. Now you can be better prepared to speak to people the way they want to be spoken to and sell to people the way they want to be sold to.

DIRECTOR

D's are daring, determined to win Stay out of their way if you have thin skin Blunt, direct, with a nary smile No problem at all, that long extra mile Focused on winning, they rush through the day For them the art of winning is just child's play Leaders they are, but few rules to be found They win by the force of their, pound, pound, pound! Mountains they challenge, they assault each top The problem with them, is making them stop If winning is first then, then their style is just fine But remember their motto, "What's the bottom line?" SOCIALIZER

Charming, confident, optimistic and fun They smile all day while continuing to run Popular and persuasive is the butterfly Convincing, inspiring to life's passerby Open-minded this talker where friends do abound The high I spreads influence, to sell by the pound To know them is to love them with their winning smile They will sell you their story with charm and beguile Effusive, influential, trusting and true They need you to love them, it's their point of view Never mind all the paper work, no time for all that They inspire all the others, while leading the pack

RELATOR

Steady and passive are the folks we call S Relaxed and deliberate, they show us no stress Card players they are, with no tip on their face Never try and guess, if they're holding an ace Understanding and mild, they support the whole team Without them along, it would make us all scream Complacent and stable, they run a quiet show But not to worry, the S just moves slow Inactive, serene, stable and more The strength of the S is deep in the core Deliberate and amiable, they don't relish change Just give them a job that's home on the range

THINKER

Exacting and precise is our friend the high C Their use of high standards is like Galilee Patient and careful, they arm with the truth Emotion and hype are to them just uncouth Conventional and careful, no stone is unturned High standards are theirs, so they never get burned Fact finders they are, armed with the truth Emotion and hype are to them just uncouth

Conventional and careful, no stone is unturned High standards are theirs, so they never get burned Fact finders they are, armed with their scopes Just give them the time to learn all the ropes Rules of the C are the guideposts of life Perfectionists they are, taking facts in their stride No money is lost with a C by your side

To find out How to Become a Highly Paid Professional Speaker, go to http://www.schrift.com/ProfessionalSpeaker/

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