State pension calculator: Check how much you will get in retirement | Personal Finance | Finance


Those worried about their retirement age are encouraged to go online and check how much state pension they are due when they retire as they could save thousands if they do it now. People can check whether they have enough National Insurance (NI) contributions to qualify for the full state pension before July 2023 when the rules change.

By checking now, Britons could add thousands to their retirement as they can buy back any gaps in their National Insurance record from years prior.

As the cost of living crisis continues, it could be vital for people to double-check when they will start to receive this cash boost to plan for their future.

Britons are usually only entitled to the full new state pension if they have 35 years of NI contributions and are being urged to go online and check before things change in April.

People can pay to fill in any gaps before the deadline – and although it will cost them £800 – it could save them thousands of pounds in the long run.

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Britons can follow the instructions on the Government website and put in their details to get the information.

The user will be asked to put in their date of birth, and press continue.

At the moment, the maximum amount that people can receive from state pension is just over £9,600 a year.

However, in April 2023, this figure is going up to £10,600 over the year, which works out at £204 a week.

The state pension is based on National Insurance (NI) contributions. The more qualifying years someone has, the more state pension they will be able to get.

To get the full state pension, 35 years of NI contributions may be required, and 10 years are needed to get anything at all.

Qualifying years are accumulated through working, but can also be earned by receiving certain benefits or making voluntary contributions.

That means if someone has gaps in their NI record which are preventing them from getting the maximum state pension, they could boost their entitlement using benefits or voluntary contributions.

While it will cost people to make voluntary contributions now, it could add up to thousands of pounds when someone retires.



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