The state pension may be claimed by those eligible once they’ve reached the state pension age. There are two types of state pension: the basic and the new. There are different requirements for getting the full amount of these two rules. Should a person wish to plan for their retirement, it’s possible to check their state pension forecast online.
Using the Check your State Pension tool on the government website, users can see how much they could get, when they may get it, and how to increase it – if the latter is an option.
It’s also possible to call the Future Pension Centre and ask for a statement, provided the applicant will reach their state pension age in more than 30 days.
Another option is to fill in the BR19 application form, and send it in the post.
Basic state pension
The basic state pension may be claimed by men born before April 6, 1951, or a woman born before April 6, 1953.
Currently, the maximum amount on the basic state pension is £129.20 per week.
To get the payment, one must have paid or been credited with National Insurance contributions.
In order to get the full basic state pension, the claimant will need a total of 30 qualifying years of National Insurance contributions or credits.
This means the individual was either working and paying National Insurance, getting National Insurance credits, or paying voluntary National Insurance contributions.
It is possible to pay voluntary National Insurance contributions if one has fewer than 30 qualifying years, and working longer or accessing credits is not an option.
Those who get the basic state pension may also qualify for the Additional State Pension.
Should a person have a low income, they could be able to claim Pension Credit.
People who are married or in a civil partnership, and who are not eligible for the basic state pension, or the full basic state pension, may qualify for a “top up” to £77.45 per week.
This is through their spouse’s or civil partner’s National Insurance contributions.
New state pension
Men born on or after April 5, 1951, and women born on or after April 6, 1953, may be able to claim the new state pension – once they’ve reached state pension age.
In order to get any payment, a person would need at least 10 qualifying years on their National Insurance record – but these do not have to be consecutive.
This means that for at least 10 years, a person was working and paid National Insurance contributions, getting National Insurance credits, or paying voluntary National Insurance contributions.
At the time of writing, the full new state pension stands at £168.60 per week.
Some people may get less than the new full state pension if they were contracted out before April 6, 2016.
It may be that an individual gets more than the new full state pension if they would have had over a certain amount of Additional State Pension under the old rules.
A state pension recipient will need 35 qualifying years to get the new full state pension if they do not have a National Insurance record before April 6, 2016.