Workplace pension

How the State Pension works

What you could get and how to get it

The State Pension is a regular payment you can claim from the government when you reach State Pension age.

Your age, gender and National Insurance records will affect the amount you’ll get and when you’ll be eligible to start receiving it.

How the state pension works

How do you get the State Pension?

You need to claim your pension when you reach State Pension age. You can find out how at the government’s website. You’ll also find a simple calculator to show you when you’ll qualify for the State Pension.

If you wish, you can defer your pension until a later date. By doing this, your payments could be higher when you do decide to claim.

How much could you receive?

The amount you’ll receive in State Pension payments depends on how much National Insurance you’ve paid.

If you haven’t yet reached the State Pension age (or if you reached it on 6 April 2016 or later) and you’re eligible, you’ll get the new State Pension.

To get a State Pension, you’ll usually need at least 10 qualifying years on your National Insurance record. If you have a 35-year National Insurance record, you may qualify for the full new State Pension. For the 2020/21 tax year, this is £175.20 per week. For more details, see the government’s website.

You might also be able to claim pension credit. This is an income-related benefit which could top up the amount you receive each week. There’s more information about this on the government's Pension Credit page.

This information is based on current understanding of legislation and may change.

Will you have enough to live on?

The new state pension of £175.20 a week amounts to £9,110.40 a year. You’ll need to consider this alongside your expected income from any other pensions you have – and from any other sources – to see what your total income might be.

How does it fit in with your other plans?

If reading about the State Pension is making you think about your retirement income in general, we can help you with your planning.

You can use My Retirement Planner to check how varying the amount you put into a private pension plan might affect your retirement income, alongside other sources like the State Pension. It’s easy to use and only takes a few minutes. And it’ll help give you a rough indication of how things are going, and whether your plans are on course.

Looking for Pensions?

Visit our Pensions page to see full details of the retirement options we offer.

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