The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald
The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald. By Mark Jones, director of Carmarthen-based Clay Shaw Butler chartered accountants and business consultants. Regular readers of the personal finance pages of our national newspapers might be wondering ‘what’s occurring’ with the State Pension. Figures from the Department for Work and Pensions have revealed that most people retiring after the New State Pension comes into effect next year would be better off under the current system. Almost 500,000 State Pension statements were issued between September 2014 and October 2015. These statements compare what level of State Pension applicants would have received under both the current State Pension system and the New State Pension, giving them the higher figure as their starting amount. According to the Department for Work and Pensions (DWP), a whopping 80% of those statements were based on the current system, meaning that they would be better off with the cur...