Telephone: 0207 534 9870
Whilst for some, the State Pension has reduced in significance as successive governments have deployed incentives to encourage personal saving for retirement, it is still worth keeping an eye on it. The new ‘single tier’ State Pension amounts to £8,546.20 p.a. for someone with a complete contributory record.
Fortunately, finding out what you will be entitled to is a lot more straightforward now than previously.
Step 1 - A good place to start is to check when you are actually entitled to receive the benefit. The default State Pension age of 65 is a thing of the past and it is now based on gender and date of birth. You can confirm when you will reach State Pension age at: https://www.gov.uk/state-pension-age
Step 2 - Next it is a question of establishing what you can expect to receive. Thankfully, there is also a simple Government service to do exactly that. Not only will it provide a forecast, it also displays any options for topping it up. The link for this is: https://www.gov.uk/check-state-pension
Good luck with this exercise and if you need any support with this or have any questions on your provisions for retirement, please do get in touch.