The new State
Pension will be a regular payment from the government that you can claim if you
reach State Pension age on or after 6 April 2016.
You’ll be able to get the new
State Pension if you’re eligible and:- a
man born on or after 6 April 1951
- a
woman born on or after 6 April 1953
How much you’ll
get when you reach State Pension age will depend on your National Insurance
record.
The full new
State pension from April 2016 will be no less than £151.25 although the actual
amount will be set in 2015. A person is “contracted out” of the additional
State Pension if they are a member of a workplace pension scheme such as the LG
pension scheme. Both the employee and their employer pay lower rate National
Insurance contributions for the time they are contracted out. As a result,
people who have been contracted out may have little or no Additional State
Pension and your state pension could be lower than the new guaranteed figure.
To find out more go to https://www.gov.uk/yourstatepension
Find out how much
State Pension you may get by getting a State Pension statement. Go to https://www.gov.uk/state-pension-statement
