How to Find Out If Your State Pension Will Reach Over £13,000
One in eight UK taxpayers have never checked their state pension forecast, even as the flat-rate pension is set to exceed £13,000 annually.
According to a survey by HMRC, about 12.5% of respondents have never viewed their state pension forecast, even though the flat-rate pension is expected to top £13,000 a year after the upcoming increase. Full entitlement requires 35 qualifying years of National Insurance contributions, but gaps caused by living abroad or career breaks can be addressed through voluntary payments or NI credits. The forecast is available through the HMRC mobile app or the government’s online portal, with identity proof required.
HMRC also warns against clicking links in unsolicited messages, as they may be scams. Myrtle Lloyd, HMRC's chief customer officer, encourages everyone, regardless of retirement horizon, to check their forecast and consider actions to improve future payments.
Why it matters
Knowing your pension forecast helps you plan retirement savings and avoid unexpected shortfalls.
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