Expert on how to get the most from your state pension
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Britons can get a better picture of what their retirement might look like via the ‘Check your state pension forecast’ tool, which can be accessed online via the Government website. The free forecast can be used to find out three important aspects relating to someone’s state pension.
State pension amount
The first piece of information people can check is how much state pension they might be able to get.
The full new state pension is currently worth £179.60 per week, or £9,339.20 for a year.
However, this will increase to £185.15 per week from April 2022.
The forecast does not take future increases in the state pension into account, so users should be aware it may not provide a completely accurate estimate.
State pension age
The forecast can also be used to check someone’s state pension age.
At present, the state pension age is set at 66 in the UK for both men and women.
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It is scheduled to increase to 67 by 2028, and again to 68 by 2046.
This means some people will have a different state pension age to others, depending on when they were born.
The state pension age is under review, so this could change in the future.
How to get more state pension
Finally, Britons can discover if they are able to get more state pension, and if so, how.
To get the full new state pension, someone may need 35 years of National Insurance contributions on their record.
They will need at least 10 years to get any state pension at all.
The forecast can tell someone if they have any gaps in their National Insurance record which could deny them the full state pension, and if so, how they could potentially fill them to earn more state pension entitlement.
Other ways to apply
The Government has advised that applying online is the quickest way to get a forecast, but there are other options as well.
Those who will reach state pension age in more than 30 days can receive a forecast through two other means.
They can either:
- Fill in a BR19 application form and send it in by post
- Call the Future Pension Centre
The telephone number for the Future Pension Centre is 0800 731 0175.
People who are already getting their state pension cannot get a forecast, and the same goes for those who have reached state pension age but have deferred receiving their state pension.
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