How do I find out how much my state pension will be?
Posted by siteadmin on Wednesday 21st March 2018.
As the population lives longer, it’s important to make sure there’s enough money in your pension pots to sustain your standard of lifestyle in your golden years.
I say pots because long gone are the days when people retired and lived comfortably on just a state pension.
But the pension the Government provides UK citizens isn’t to be sniffed at and one of the most common questions I get asked is ‘How much will I get as my state pension and when will I start getting it?’
Finding out is easy and can be done online (and by post but most people find doing it digitally easier and quicker).
Firstly visit www.yourpension.gov.uk. Then scroll down to where it says Check your State Pension.
You’ll then need to confirm your identity by entering your Government Gateway User ID and Password. If you haven’t yet set up your Government Gateway it’s a very useful thing to do, as it gives you access to a lot of information including your National Insurance status, personal tax and of course, your state pension details.
Once that information is entered you will be taken directly to a page which will show when your state pension comes into effect and the amount of money you can expect weekly, monthly and yearly.
As the website declares, it is not a guaranteed amount and is based on the current law. The forecast also doesn’t include any increase due to inflation.
But it does give you a good idea and I always find it a very useful tool for people to use when it comes to planning for their retirement and seeing how much they have as a base to work from, to live in the manner they are used to.