State pension: You could be entitled to lower sum - check how much you're entitled to
BRITONS may not be entitled to the full state pension when they reach state pension age.
Retirement expert advises people to learn about state pensions
Many people base their retirement around their state pension, so it is crucial they are sure how much they will get. Britons can check online to see how much they can get when they claim the state pension.
It can be accessed online via the Gov.uk website and the tool is completely free to use.
This is known as the state pension forecast.
It can be accessed online via the Gov.uk website.
The tool is completely free to use.
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Britons can use the service to find out:
- How much state pension they could get
- When they can get it
- How to increase it, if they can
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Only people who have not yet begun receiving their state pension can get a forecast.
Those who have reached state pension age but have deferred their pension cannot use the service.
The Government states the quickest way to get a forecast is by using the online service.
However, there are other options available.
Britons who will reach state pension age in more than 30 days can also:
- Fill out a BR19 application form and send it by post to the Future Pension Centre
- Call the Future Pension Centre and get a forecast posted out
The full new state pension is currently worth £182.60 a week.
This could rise over time, as the state pension increases by at least 2.5 percent each year under the terms of the triple lock policy.
The forecast does not take into account any increases to the state pension which could come in the future, so the amount shown on someone’s forecast may not be completely accurate.
If someone discovers they are not on course to get the full state pension, they may be able to increase it by improving their National Insurance record.
This may be done by claiming benefits with attached National Insurance credits or by paying voluntary contributions.