State pension 101

For most people, the State pension will be a key building block of their retirement income, so it’s important to understand what you’re on track to receive. 

Following the latest increase in April, the full State pension is now worth £230.25 a week, or £11,973 a year for 2025/26. (It’s worth remembering that this is still several thousand pounds below the suggested minimum Retirement Living Standard for a single person.)

The amount of State pension you receive will depend on how many qualifying years you have on your National Insurance (NI) record. Everyone’s NI record will be different, so it’s a good idea to check yours and see if you’re on track to receive the full amount. It’s easy to check on the GOV.uk website. 

You can also find out how to increase your NI credits. In some cases, you can pay voluntary contributions to top up your State pension. 

Your State pension age (SPA) is the age at which you can start to receive a State pension. It’s currently age 66, but from 2026 it’ll start to gradually increase to age 67, and then to 68 between 2044 and 2046. 

If you want to retire before your State pension starts, you might need to think how you’re going to fund the gap in income.