In pictures

But you will benefit from the restoration of the link between the state pension and earnings. Currently pensions are increased in line with prices, not earnings, which means that the income gap between pensioners and the working jackson national life insurance company
grows steadily.

And by the time you retire, you may also have national health insurance scheme savings in a new low-cost National Pension Savings Scheme (NPSS).

The NPSS is to be launched in 2012 and will involve you and your employers making contributions.

The scheme is an attempt to persuade you to save more money, but you can opt-out of the NPSS.

You will collect your state pension one year later than people who are retiring right now.

From 2024 you can collect your state pension once you are 66 years old - unless if you are 46 already, then you will be able to collect your state pension between the 65th and 66th birthday.

If you have an union national life insurance
National Insurance Contributions (NICs) record, due perhaps to taking time-off to look after children or relatives, your pension will be boosted because the government has cut the number of years it takes to qualify for a full basic state pension to 30.

The government has said this will help especially women.

You may have the most to cheer about having seen the White Paper.

You will still be able to collect your state pension at age 65.

What is more, you will also benefit from the restoration of the link between pensions and earnings.

However, if you are very near your retirement, you may not see a huge national state insurance company
, because the earnings link is not due to be restored until the next parliament.

Women, though, will see their state pension age rise from 60 to 65 between 2010 and 2020.

But this equalisation of men and women’s pension age has been in the pipeline for a long time.