This statement gives you an estimate of your state
State
Pension based on your National Insurance
contributions record up to the tax year ending 5
April 2013.
It is based on the law as it currently stands. Any
changes in the law or your circumstances may
affect the information provided.
It is not a forecast of the amount you will get
when you claim your State Pension, as it does not
take into account any National Insurance that may
be added to your contributions record in the
future.
We estimate that your State
Pension, based on your National Insurance
contributions record to date, is £113.82 a week.
A breakdown of this amount is shown below.
The earliest date you will
be entitled to your State Pension is when you
reach your State Pension age. This is on 23 Oct
2023
You do not have to claim your State Pension
straight away, and you may be able to increase the
amount you get if you put off claiming. There is
more information on State Pension age, including
how it may change in the leaflet Your Pension
Statement Explained.
Your State Pension Statement:
Breakdown
Basic State Pension
This is the main part of the State Pension.
The amount of basic State Pension you get depends
on how many qualifying
years you have on your National Insurance
contributions record. You currently need 30
qualifying years to get a full basic State
Pension, worth £110.15 a week.
So far you have 38
qualifying years, worth £110.15 a week.
If you do not already have the maximum 30
qualifying years needed to get the full basic
State Pension, each extra qualifying year between
now and when you reach your State Pension age is
worth a further 1/30th of the full basic State
Pension - about £3.67 a week.
Additional State Pension and Graduated
Retirement Benefit
On top of the basic State Pension some people also
get the additional State Pension (also known as
SERPS and the State Second Pension) and Graduated
Retirement Benefit.
The amount of additional State Pension you get
depends on your National Insurance history. You do
not get additional State Pension for periods when
you were paying National Insurance contributions
on a voluntary or self-employed basis and, in some
circumstances, when you were contracted out of the
additional State Pension.
You may get Graduated Retirement Benefit if you
paid graduated National Insurance contributions
between 6 April 1961 and 5 April 1975.
We estimate that your
additional State Pension and Graduated
Retirement Benefit, based on your National
Insurance contributions record to date, is £2.37
a week.
The amount of additional State Pension could be
lower than the estimate shown in this statement,
especially if you were contracted out of the
additional State Pension anytime between 6 April
1978 and 5 April 1997. There is more information
on this in the leaflet Your Pension
Statement Explained.
The 30 qualifying years maximum that applies to
the basic State Pension does not apply to the
additional State Pension. Each extra qualifying
year you have between now and when you reach
your State Pension age is worth at least £1.75 a
week additional State Pension. The actual amount
will depend on your own circumstances, including
your annual earnings. You will not get
additional State Pension for periods when you
are paying National Insurance contributions on a
voluntary or self-employed basis and, in some
circumstances, when you are contracted out of
the additional State Pension.
How much will I actually get when I reach
State Pension age?
We will only be able to tell you how much you
will get when you actually claim your State
Pension.
The figures shown in this statement are in
2013/2014 values.
The State Pension is usually increased each
year to take account of inflation. To work out
how much you are likely to be able to afford
with your State Pension when you retire, you
could think about how much it would buy you now.
There is more information on what you may be
able to do to increase your State Pension, as
well as other things to save more for later
life, in the leaflet Your Pension
Statement Explained and at www.direct.gov.uk/retirement
Questions you may have now:
There is more information on the State Pension,
and answers to the most frequently asked
questions, in the leaflet Your Pension
Statement Explained.