Pension Changes
How will the changes to the new pension book affect you? If you're over 60 and use a pension book to collect your pension, there are some major changes in the system that will affect you.
Since April 2003, the Government has begun phasing out the pension book and asking you to choose three different ways of getting your money, called direct payment. Your money can be paid into three different types of account:
- A current account
- A basic account or;
- A Post Office card account.
You don't need to do anything now as the Pensions Service will write to everyone concerned over the next two years, but you need to start thinking about it. Help the Aged has produced 'Pension Book Changes Ahead' which will explain the changes in more detail and answer any questions you may have. Download Pension Book Changes Ahead (PDF). If you would like a hard copy of 'Pension Book Changes Ahead' write to:
Debbie Smith
Campaigns Manager
Help the Aged
207-221 Pentonville Road
London N1 9UZ
