State

State Pensions

State Pension is paid to entitled people who claim it having reached State Pension age. It is based on National Insurance (NI) contributions and it is made up of different elements.

State Pension age

The State Pension age is currently 65 for men and 60 for women. The State Pension age for women will increase gradually from 2010, so that by 2020 it will be 65.

The increase in the State Pension age will not affect women born on or before 5 April 1950. Women born between 6 April 1950 and 5 April 1955 (inclusive) will have a State Pension age between 60 and 65. Women born on or after 6 April 1955 and before 6 April 1959 will have a State Pension age of 65.

The State Pension age for both men and women is to increase from 65 to 68 between 2024 and 2046, with each change phased in over two consecutive years in each decade. The first increase, from 65 to 66, will be phased in between April 2024 and April 2026; the second, from 66 to 67, will be phased in between April 2034 and April 2036; and the third, from 67 to 68, between April 2044 and April 2046.

Status

If you are a married woman and cannot get a full basic State Pension because you do not have enough qualifying years based on your own National Insurance (NI) contributions, you may be able to get a State Pension based on your husband's NI contributions. You can only do this if he is already getting a basic State Pension and you are aged 60 or over.

If you are a widow, widower or surviving civil partner, you may be able to get a basic State Pension based on your late husband's, wife's or civil partner’s NI contributions.

If you are already a widow, widower or surviving civil partner you can get up to 100% of your late husband's, wife's or civil partner’s additional State Pension.

If your husband or wife or civil partner reached State Pension age before 6 October 2002, you will receive up to 100% of their SERPS pension or Additional State Pension when they die.

If your husband, wife or civil partner is due to reach State Pension age after 5 October 2002 but before 6 October 2010, if they die before you, you will receive a maximum of between 90% and 60% of their SERPS pension. The exact amount will depend on when, in this period, they reach State Pension age.

If your husband or wife is due to reach State Pension age on or after 6 October 2010, you will receive up to 50% of their SERPS pension if they die before you.

The maximum amount of additional State Pension built up after 6 April 2002 under the State Second Pension that a surviving husband, wife or civil partner can inherit will be 50%.

If you are divorced or your civil partnership has been dissolved and you cannot get a full basic State Pension based on the qualifying years from your own NI contributions, you may be able to get a basic State Pension based on your former husband's, wife's or civil partner's NI contributions. They do not need to be getting their State Pension.

If you carry on working after claiming your State Pension, your earnings will not affect how much State Pension you get. But if you get an increase for a dependant, their earnings may affect how much increase you get for them.

If you put off claiming your State Pension for at least five weeks when you reach State Pension age, you can earn extra State Pension. The weekly amount of your State Pension will be higher, but you will not get any State Pension for the weeks you put off claiming.

A pension is a long term investment. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.

The value of your investment and income from it is not guaranteed it can go down as well as up due to fluctuations in investment markets, and you may not get back the full amount invested.

Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor