1970s
The “married woman’s stamp” system was widespread and in the 1970s, around 4.4 million women were taking advantage of it as a way to boost their salary.
Is a married woman entitled to a State Pension?
Many married women are entitled to a basic state pension at 60 per cent of the full rate because of their husband’s record of National Insurance (NI) Contributions in circumstances where their own record of NI Contributions would provide a lower pension.
What are reduced rate National Insurance contributions?
If you opted to pay a reduced rate of National Insurance, it means that your entitlement to certain contribution-based benefits is also reduced. This means that you won’t be entitled to claim your full State Pension and you won’t be entitled to claim certain benefits, including contribution-based unemployment benefits.
What is a married womans pension?
The Married Woman’s Pension is a sum which is linked to the full basic state pension. As a result, those in receipt of the payment can expect an increase in line with the rise to the basic state pension.
What is the married woman’s stamp?
The mistake originates from an old-fashioned scheme from the 1940s whereby women paid less NI based on the assumption they were financially dependent on their breadwinner husbands. The so-called married women’s stamp peaked in the mid-70s with 4.4million women paying the reduced rate.
When did the small stamp for married women end?
A married female could opt in to the scheme before it ended in April 1977 to pay lower rates of National Insurance. THE SMALL STAMP: Back then, the reduced rate for a married woman was often called the ‘small stamp’.
What happens if you pay married women’s stamp?
Women who paid the stamp and are getting less than this in state pension should contact the Government’s Pension Centre to see if they are entitled to a higher amount, he says. But you will not qualify for any second state pension based on earnings on top of that, as this was not permitted under the old married women’s stamp system, explains Webb.
Can a woman claim a reduced stamp payment?
“It is not widely known that women who paid the reduced stamp at any point in the 35 years before they retired, and who come under the new state pension system, can claim a minimum payment under the new system,” said Mr Webb, who is now director of policy for mutual insurer Royal London.
Is the married woman’s stamp based on husband’s record?
Here’s all you need to know. What is the married women’s stamp? Up until 1977, wives who worked were able to pay a reduced rate of National Insurance if they claimed on their husband’s record. But changes in April 2016 mean that women now get state pension payments based on their own National Insurance record – not their husband’s.
