The UK state pension makes up a significant part of many people’s retirement income, but it’s important people don’t assume they will get the full amount.
This is because the amount of state pension a person gets depends on their National Insurance record.
While the full new state pension is currently £203.85 per week and the full basic state pension is £156.20 per week, it may be a person only qualifies for a fraction of this.
The rules are quite complicated, but people who make National Insurance contributions or get NI credits before April 6, 2016 will usually need at least 10 qualifying years on their National Insurance record to get any state pension.
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For the full new state pension, once would need 35 qualifying years.
They would get a proportion of the new state pension if they have between 10 and 35 qualifying years on their National Insurance record.
Gov.uk states: “Your new state pension is more likely to be calculated in this way if you were born after the year 2000 or became a resident of the UK after 2015.”
Everyone eligible for the basic state pension has now reached the state pension age.
For those who get the basic state pension, the amount of qualifying years of National Insurance depends on circumstances.
For the full basic state pension, men usually need:
- 30 qualifying years if they were born between 1945 and 1951
- 44 qualifying years if they were born before 1945
For the full basic state pension, women usually need:
- 30 qualifying years if they were born between 1950 and 1953
- 39 qualifying years if they were born before 1950
Regardless of which type of state pension a person qualifies for, it’s possible to check one’s National Insurance record to find out qualifying years.
This can be done online, but it’s also possible to request a printed National Insurance statement online, by post, or by phone.
The online tool will also highlight any gaps in contributions or credits which could mean some years don’t count towards state pension entitlement.
How to check state pension forecast
It’s possible to get a state pension forecast from the government online, offering people who haven’t yet reached state pension age the ability to check how much state pension they could get.
The service will also highlight when the person will be able to get the money as well as how to increase the sum if they can.
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There are several ways to get a state pension forecast and this includes online on the government website
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It’s not possible to use this service if a person is already getting the UK state pension or if they have deferred claiming it after reaching state pension age.
There are various ways to get a state pension forecast – including online.
The government says this is the quickest way to get a state pension forecast.
People who reach state pension age in more than 30 days can also call the Future Pension Centre, who will post the forecast, or fill in the BR19 application form and send it by post, to get it.
People who have deferred the state pension or already get it would need to contact the Pension Service for information about their state pension, if they’re in the UK. They should contact the International Pension Centre if they live abroad.