Make sure you are not missing out on the full, New State Pension which is now worth £221.20 each week.
New research from retirement specialist Just Group suggests that more than a third of retirees did not check their State Pension forecast before they retired despite 1.2 million households relying on the State Pension as their primary source of income in retirement.
“The government offers a State Pension forecast service and we urge anyone approaching retirement to use it - ideally in advance of beginning to retire. It will tell you if you are likely to receive less State Pension than you thought and that will give you the opportunity to take steps to increase what you will actually receive.”State Pension payment rates Below are the New and Basic State Pension payment rates for the 2024/25 financial year.
If you are not at State Pension age, simply check your NI contribution record by logging onto the State Pension forecast calculator, which you can access through your Government Gateway here. Latest State Pension News Step 2: Assess whether filling any NI gaps makes sense Your State Pension Summary will clearly state how many years of contributions you already have, how many you have left to contribute before you retire and the number of years in which you did not contribute enough.
The best solution is to call the UK Government’s Future Pension Service on 0800 731 0175 to double check how many years you can buy and whether voluntary contributions will add to your State Pension. Those who have already reached retirement age must contact the Pension Service on 0800 731 0469. For someone who was living abroad during their missed year, they need to download and complete HMRC CF83 form and send it to the address on the form.
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