If you are a man born on or after 6 April 1951 or a woman born on or after 6 April 1953, you’ll be able to claim the new State Pension. However, if you reached State Pension age before 6 April 2016 you’ll get it under the old rules instead.
To be eligible for a state pension you’ll usually need at least 10 qualifying years on your National Insurance record, however, they don’t have to be 10 qualifying years in a row. When you’re working you pay National Insurance and get a qualifying year if you’re employed and earning over £155 a week from one employer or if you’re self-employed and paying National Insurance contributions. You may get National Insurance credits if you can’t work – e.g. because of illness or disability, or if you’re a carer or you’re unemployed.
You can have gaps in your National Insurance record and still get the full new State Pension. You can get a State Pension statement which will tell you how much State Pension you may receive. You can then apply for a National Insurance statement from HM Revenue and Customs (HMRC) to check if your record has gaps. You may be able to make voluntary National Insurance contributions if you have gaps in your National Insurance record that would prevent you from getting the full new State Pension.
You won’t get your new State Pension automatically - you have to claim it. You should get a letter 4 months before your State Pension age, telling you what to do. There are 3 ways to claim:
- online
- over the phone
- by downloading the State Pension claim form and sending it to your local pension centre
The full new State Pension is £155.65 per week and is paid every 4 weeks to an account of your choice. The actual amount you get depends on your National Insurance record. You can claim your new State Pension even if you carry on working. However, you have the option to defer which can increase the amount you get. For more information on how the new State Pension is calculated have a look here.
To access our pension forecast form, click here (missing link) or for more information call us on 01623 490120 or email us at