14/06/2026
In this week’s financial news, it’s been reported that some workers could potentially swap a year of their future state pension for around £12,500 in cash to help get on the property ladder. 👀💸
The proposal, developed by the Social Market Foundation alongside Labour MP Andrew Lewin, suggests a voluntary “Citizens Advance” for people who have paid National Insurance for around ten years.
Under the idea, those who take the payment would receive the money earlier in life but would need to work an additional year before qualifying for the state pension.
While the funds could be used for any purpose, the think tank suggests they may commonly be used towards a house deposit.
Source: Daily Mail.
