The flat-rate state pension, applicable to those who reached state pension age after April 2016, currently stands at £241.30 per week, equating to £12,547.60 annually. The old basic state pension, for those who reached state pension age before April 2016, is £184.90 a week, or £9,614.80 a year. Many on the old basic state pension may also receive an additional state pension top-up.
The state pension is adjusted annually based on the highest of inflation, wage increases, or 2.5%. Consequently, the flat-rate state pension is anticipated to exceed £13,000 next April.
To qualify for a full state pension, individuals generally need 35 years of qualifying National Insurance (NI) contributions. Gaps in NI records can occur, for instance, due to living abroad, though NI credits are available for those receiving child benefit or carer's allowance. Voluntary payments can be made to boost contribution history, but since April 2025, these have been limited to the previous six years.
Despite the importance of checking forecasts, a recent HMRC survey of 5,000 consumers found that one in eight people have never checked their projected state pension. The most common reason cited was feeling that retirement was too distant to consider. Other reasons included losing track of pension pots and concerns about career breaks affecting entitlement. Individuals aged 45-54 were identified as the most likely group never to have checked.
Myrtle Lloyd, HMRC's chief customer officer, encourages everyone to check their forecast to explore options for boosting their future entitlement. Individuals can check their forecast via the HMRC app or the official online state pension forecast webpage, requiring official photo ID for identity verification. It is important to be vigilant against scams and avoid clicking on unsolicited links.