The Queen’s official 90th birthday celebrations are now over. During these celebrations we were reminded how age has not stopped the Queen or many others working as people are living longer.

This obviously has an impact on pensions, as people are paying into pensions and ultimately claiming them for longer. During the Queen’s speech this year a Pensions Bill was on the agenda. This provides for: greater protection for those making payments to multi-employer pensions schemes, which will be supervised more closely; early exit fees of occupational pension schemes which are trust-based to be capped; a single advisory body.

The state pension age is also increasing (in a rather confusing way according to a timetable providing for gradual rises) to cope with the ageing population and the new state pension came into effect at the beginning of this tax year for eligible men and women born, respectively, on or after 6 April 1951 or a women born on or after 6 April 1953 eligible within the criteria which - among other things - requires 10 qualifying years (in basic terms meaning working and paying national insurance). This will also impact on those living and working overseas.