News
August 2008
State Pension – 100 years
It is 100 years since the very first State Pension was introduced.
Lloyd George introduced State Pensions in August 1908 when the Old Age Pensions Act was passed.
The first State Pensions guaranteed a minimum income to people over seventy. They received up to five shillings (25p) and were means tested.
Since then, the State Pension has changed a great deal but continues to provide financial security to the retired and elderly.