253 October 2015 - Gryffe Advertizer

26 the advertizer t: 01505 613340 e: info@advertizer.co.uk
Financial Blog
by Carl Melvin, Affluent Financial Planning Ltd
New Flat Rate State Pension –
are you on track for a Full pension?
The State pension is changing. Currently, the Full Basic State Pension is
£115.95 per week. A new Flat Rate State pension will be introduced on 6th
April 2016 and men born after 6/4/1951 and women born after 06/04/1953
will be paid their State Pension under the new rules. To qualify for a full
Flat Rate State pension you must have 35 qualifying years of National
Insurance credits.
However, it is expected that just one in three people in the twelve months
following April 2016 will get the Full Flat Rate State pension of £151.25 per
week. Why is this?
Employees and Employers who contracted out of the State Second Pension
scheme (formerly known as SERPS) paid reduced national insurance
payments. If you were contracted out,
then you may lose out under the new
rules. The Government will introduce a
one off deduction to your State pension
called the “rebate derived amount” and
this will be used to work out how much
State pension you will get. So, if you
were contracted out you will get a lower
pension than someone who was not.
The State pension is very valuable.
It provides a guaranteed index linked
income for life and provides a foundation
for your retirement income. There are a number of things you should do to
make sure you know where you stand in relation to these new changes.
Firstly, get a forecast of your State pension entitlement. This will confirm
your State Pension Age and the number of qualifying years you have
accrued. You can do this using form BR19 or online at www.gov.uk/statepension-statement.
You can call the Pension Service on 0345 300 0168 for
more information. If you don’t have enough qualifying years, you may be
able to improve your entitlement by paying voluntary contributions.
Call 0871 702 9490 for further information or pop in to the Affluent office
opposite Amaretto Restaurant on Main Street, Bridge of Weir.
6 Must Do’s -
Planning for the Future
Kingsley Wood & Co are continuing their series of
free presentations on “6 Must Do’s - Planning for
the Future” and will host events throughout West
Renfrewshire over the coming months.
Dealing with subjects such as Protecting your Assets, Powers of Attorney
and Wills these short seminars are packed with useful information on
these key areas. Aimed in particular at the “Older Person” they address
matters which are important to family and individual alike.
The next presentation is set for
Tuesday 20th October in the
TUESDAY 20 OCTOBER
Cargill Hall, Bridge of Weir from
7pm – 8.30pm, followed the week Cargill Hall, Bridge of Weir
after on Monday 26th October in
7pm – 8.30pm
The Old Library Centre, 9 Barholm,
Kilbarchan from 7pm – 8.30pm. All
are welcome to attend.
Spaces may be limited so for a place
at any of these presentations please
contact Annemarie at Kingsley
Wood & Co on 01505 874114 or
email agillen@kingsleywood.co.uk
MONDAY 26 OCTOBER
The Old Library Centre,
Kilbarchan
7pm – 8.30pm
Kingsley Wood & Co, Solicitors & Notaries, Burnside Chambers,
Kilmacolm PA13 4ET
Tel: 01505 874114 Email: mail@kingsleywood.co.uk
Web: www.kingsleywood.co.uk
Friday 6 November at 9.30am
Amaretto Ristorante & Pizzeria, 60 Main
Street, Bridge of Weir
Weir Networking is a Business Networking Group
for local businesses to get together and make
contact. To date we have enjoyed very interesting
talks from business people such as Tom Kennett
of Tom Kennett Watches, Maureen Horton of Travel a la Carte and award
winning Journalist and BAFTA winner Sam Poling. Come along and join us
for breakfast and a chat. All businesses welcome. Just £5 per person.