State Pension forecast: How YOU Can get a State Pension forecast
STATE PENSIONS are a huge chunk of what you will rely on financially when you retire. Your State Pension forecast tells you how much you could get when you reach State Pension age.
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The amount of State Pension you will get depends on how many qualifying years of National Insurance contributions you have. Not sure how much you could get? Here’s how to get a State Pension forecast.
It’s important to know how much State Pension you will receive from the government when you reach State Pension age.
You can also receive workplace or private pensions that you or your employer have paid into and should keep track of these too.
Finding out how much you could get is called a Pension forecast, and there are different steps to finding out your Pension forecast for each type of Pension.
Express.co.uk reveals how to get a State Pension forecast.
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How to get a State Pension forecast
A State Pension forecast is based on an estimate of what your National Insurance record could be when you reach State Pension age.
The online State Pension services tell you:
• How much State Pension you could get (this amount is also known as your State Pension forecast)
• When you can get it
• How to increase it, if you can
You will need to prove your identity before you get a forecast, and this could be tricky.
You need to either sign in with Government Gateway, GOV.UK Verify, or a digital identity from another European country.
If you don’t already have one of these accounts, you can create either a Government Gateway user ID or GOV.UK Verify identity account.
To create a Government Gateway account, you will need a couple of pieces of information.
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Create a Government Gateway user ID
The Government Gateway user ID can be used for personal or business tax accounts, Self Assessment, Corporation Tax, PAYE for employers and VAT- so it may come in handy in the future.
To create a Government Gateway user ID, you will need:
• Your National Insurance number or UK address
• A recent payslip or P60 or a valid UK passport
If you don’t have either of these things, you should create a GOV.UK Verify identity account.
Create a GOV.UK Verify identity account
You need less information to create this account, making it a simpler option.
This account can be used to apply for Universal Credit, requesting a basic DBS check and Self Assessment, so you may need to use it again at some point.
It works better if you are over 20 years old, and you need:
• A UK address
• A mobile phone
• At least one valid photo ID from any country
Once you have one of the following accounts, you can sign in with this account and get your forecast.