Widows and widowers may be eligible to increase their state pension significantly through inherited state pension benefits, with over half a million surviving spouses boosting their pensions by over £5,000 annually. The maximum inheritance for the 2024/25 tax year is £11,365 per year, leading to some individuals receiving up to £22,858 per year. Understanding the complex rules surrounding inherited state pensions is crucial to maximize retirement income and avoid missing out on potential benefits.
Full Article