Eligible Brits can claim State Pension once they reach the dedicated age, and for many top-up pension pots and help with retirement costs. The Government pays State Pension every four or so weeks, and in April 2021 those receiving the benefit saw a welcome boost.
The increase saw people over the age of 66 on the full state pension get a boost of 2.5 percent to their weekly amount.
This was a weekly rise of £4.40 on £175.20 to £179.60.
Those claiming the full state pension saw a boost of £19.01 a month, or £228.80 over the 2021/22 financial year.
The State Pension rises each year due to the triple lock scheme, with pensions rising in line with the highest out of inflation, average earnings or 2.5 percent.
State Pension does not start being paid automatically, so if you want to receive it and you have reached State Pension age – you will need to claim it.
There are three ways to do this
- Over the phone
- Download the State Pension claim form and send it to your local pension centre
To claim from abroad – visit the Government’s official website here.
You can also check how much State Pension you are forecast to receive when you do claim it.
The Gov.UK website has a handy State Pension forecast tool, which allows you to see what you could be eligible for.
You will need to sign in with a Government Gateway account or create one if you don’t have one.
Once you’ve logged in you’ll be able to see the amount you could get once you reach State Pension age.
However, the Government website warns the amount listed:
- is not a guarantee and is based on the current law
- is based on your National Insurance record up to April 5, 2021
- assumes that you’ll contribute the full 35 years
- does not include any increase due to inflation