State pension: How to check on your state pension age ahead of this week’s increase

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STATE pension payments are paid out when a person reaches their state pension age and claims what they’re owed. When a person reaches their state pension age is largely dependent on their date of birth and gender.

State pension payments can only be paid out to people who have reached state pension age and have accrued at least 10 years of National Insurance contributions. As it stands, the state pension age is 65 for many people but it is being increased incrementally to 66, with the next update occurring this week.

On September 6 2020, anyone born between September 6, 1954, and October 5, 1954, will reach their state pension age.

Beyond this, everyone will reach their state pension age on their 66th birthday from October 2020.

The government has plans to increase the state pension age to 68 in the coming years.

With all these planned changes, it may be difficult for some retirees to know exactly when they can claim their state pension.

Fortunately, the government provide a tool on their website which provide users with an exact date for when they can claim state pension.

This tool is very easy to use, with only one piece of information required.

The tool will initially ask the user if they would like to check on their state pension age or free bus pass age.

When state pension age has been selected, the tool will then ask the user to provide their date of birth.

The final screen will present the user with an exact date for when they can claim their state pension, along with what age they’ll be on that date.

Anyone who has at least 10 years of National Insurance contributions will qualify for state pension payments but those with at least 35 years of contributions will receive the full amount.

The full state pension will pay out £175.20 per week.

It should be noted that while this is referred to as the “full” state pension, it is possible to increase the payments further if certain actions are taken.

People are under no obligation to claim their state pension if they wish to keep working and if they don’t claim it, their state pension will automatically be deferred.

As long as the state pension is deferred for at least nine weeks, the eventual payments will increase.

The state pension will increase by the equivalent of one percent for every nine weeks of deferment.

This works out at just under 5.8 percent for every 52 weeks of deferment.

When a person is ready to claim their state pension, they have a number of options for doing so.

The government details that the quickest way to claim a state pension is to apply online.

Additionally, people can claim their state pension by:

  • Applying over the phone
  • Downloading the state pension claim form and sending it to a local pension centre
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