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The Technical Quiz: 7 February

To help you to keep up with the fundamentals of tax, retirement and financial planning, try answering these questions. Answers below.

The Technical Quiz MM 480

QUESTION ONE: The age at which the male and female SPAs will be aligned at age 65 is

A) 6 April 2018
B) 6 November 2018
C) 6 April 2020
D) 6 November 2020

QUESTION TWO: SPA is due to reach age 66 by

A) 6 April 2019
B) 6 October 2019
C) 6 April 2020
D) 6 October 2020

QUESTION THREE: Which one of the following best describes the Government’s current plans relating to the increase in SPA to age 67?

A) The PA 2007 increases the SPA to age 67 between April 2034 and April 2036; no other changes are currently planned
B) The PA 2007 increases the SPA to age 67 between April 2044 and April 2046; no other changes are currently planned
C) The PA 2007 increases the SPA to age 67 between April 2034 and April 2036; the 2012 Queens Speech announced a new Pensions Bill bringing forward the increase in SPA to 67 between 2026 and 2028
D) The PA 2007 increases the SPA to age 67 between April 2044 and April 2046; the 2012 Queens Speech announced a new Pensions Bill bringing forward the increase in SPA to 67 between 2036 and 2038

QUESTION FOUR: Currently, entitlement to the Guarantee Credit element of Pension Credit is on attaining

A) Age 60
B) Age 65
C) Female SPA
D) Male SPA

QUESTION FIVE: Currently, entitlement to the Savings Credit element of Pension Credit is on attaining

A) Age 60
B) Age 65
C) Female SPA
D) Male SPA

Questions supplied by Technical Connection

_________

Answers

1 B
2 D
3 C
4 C
5 B

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