Changes to State Pension - Homemakers
From 5 April 1994, any contribution year spent as a homemaker may be disregarded in the calculation of the yearly average up to a maximum of 20 years. The fact that you do not have any contributions in those years will not affect your entitlement to a pension. It is proposed under the National Pensions Framework, launched in March 2010, to implement a new credit-based system to replace the current system of disregards. The new system will grant credits for time spent homemaking instead of disregards, but the required legislative change has not yet been introduced.
Can I take this as fact? I worked for 6yrs, was a homemaker for 15yrs and have subsequently worked continuously for the past 18yrs. If I were to take a Redundancy package now, will I have the 30yrs contributions required to receive a full Contributary Pension on reaching 65? From reading the above I think I should but I just want to be sure I'm not missing anything! I'd really appreciate a second opinion on this especially regarding the bit at the end about the "legislative change has not yet been introduced"!
From 5 April 1994, any contribution year spent as a homemaker may be disregarded in the calculation of the yearly average up to a maximum of 20 years. The fact that you do not have any contributions in those years will not affect your entitlement to a pension. It is proposed under the National Pensions Framework, launched in March 2010, to implement a new credit-based system to replace the current system of disregards. The new system will grant credits for time spent homemaking instead of disregards, but the required legislative change has not yet been introduced.
Can I take this as fact? I worked for 6yrs, was a homemaker for 15yrs and have subsequently worked continuously for the past 18yrs. If I were to take a Redundancy package now, will I have the 30yrs contributions required to receive a full Contributary Pension on reaching 65? From reading the above I think I should but I just want to be sure I'm not missing anything! I'd really appreciate a second opinion on this especially regarding the bit at the end about the "legislative change has not yet been introduced"!