UK State Pension – qualifying and checking your entitlement

UK State Pension – qualifying and checking your entitlement

The state pension is not a lot, but it is something. Here are some quick facts about the state pension which you might not have known:

  • State pension age (currently) – 65
  • State pension age (by 2029) – 67
  • State pension age (by 2039) – 68
  • Full new state pension – £166.60/week
  • Minimum requirements – 10 ‘qualifying years’ of national insurance (NI) contributions

Fairly unrelated fact – Blackpool is the city with the oldest average aged population in the UK at 43.2 years.

To receive ANY state pension

Knowing you need a minimum of 10 ‘qualifying years’ of NI contributions can help you plan. You might be close to retirement age, or you moved to the UK and worked and want to move back to a different country – how do you know if you have qualified?

Thankfully there is a way of checking with HMRC. You can check in your Self Assessment portal at HMRC, or visit the website here.

HELP! I don’t have 10 qualifying years!

If you feel you have contributed by paying NI over the years, it’s only fair that you should receive your pension upon retiring. But what if you have JUST fallen short? There is a way of ‘topping up’ your NI contributions to your minimum 10 years (with some restrictions).

Contact info@sadleradvisory.com for more information.