The State Pension
The State Pension
The State Pension is a regular payment from the government that provides a basic level of retirement income. It’s based on your National Insurance contributions throughout your working life.
🟩 Who Qualifies for the State Pension
To receive the State Pension, you must have built up enough qualifying years of National Insurance contributions or credits during your working life. Gaps in your record can affect how much you receive.
🟩 How Much Will You Get?
The full new State Pension (as of the 2024/2025 tax year) is £221.20 per week. The actual amount you receive may be lower or higher depending on your contribution record and any additional entitlements.
🟩 When Can You Claim?
The State Pension age is currently 66 but is due to increase over time. Your specific State Pension age depends on your date of birth and government rules in place at the time.
🟩 How Does It Fit With Other Pensions?
The State Pension is often combined with private pensions, workplace pensions, and other savings to form your overall retirement income.
🟩 Can You Increase Your State Pension?
In some cases, you may be able to increase your State Pension by topping up missing National Insurance years through voluntary contributions.