Comments

More than half a million people are boosting their State Pension by over £5,000 annually through inheritance, according to figures obtained by a pension provider. A freedom of information (FOI) request by pensions mutual Royal London indicated that in the tax year 2023/24 more than two million pensioners (around 2,027,440) received a payment from an inherited state earnings-related pension scheme (Serps). ‌

This was part of the old State Pension system, which enabled people to build up an entitlement to extra State Pension income. According to the figures, around 541,760 pensioners were receiving more than £5,000 a year in inherited Serps payments, including 17,460 who received more than £10,000. ‌

If someone’s spouse or civil partner dies , they may be able to inhe

See Full Page