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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | August 2008 (7 blogs) | State Pension 100 years old
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State Pension 100 years old
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Just in case you hadn’t realised it, the State Pension is 100 years old. As a form of income in retirement it plays a significant part in most people's pension planning.
So, its interesting to know what benefits it provided when it first started. In this article the BBC reveals DWP statistics about the State Pension in 1908:
- 500,000 pensioners
- Full pension 5 shillings per week, equivalent to £19.30p now
- 1 in 200 lived to age 100
- 1.2 million aged over 70 (in 1901)
I left one statistic out though. How many workers do you think there were back in 1908 for every pensioner? The answer is revealed in the article. See:
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Mike Jones, MyCompanyPension.co.uk, 1st August 2008
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