State pension age has faced many changes in recent years, with some of them being fairly controversial. There are further changes on the horizon with more increases expected over the coming years.
To start with, the user will need to identify if they’re looking to calculate their state pension age or bus pass age.
Once the state pension age option is selected they will need to input their date of birth.
Finally, the user will need to identify if they’re a man or woman.
The final screen reveals the exact date that the user will reach state pension age.
It’s also possible from this screen to get information on when the user could become eligible for pension credit, get a pension forecast or receive other state pension information.
The actual amount a person will get from state pension will depend on their national insurance record.
State pension has recently been raised and so long as a person has a minimum of 35 years of NI contributions, they could get £175.20 per week.
To receive any amount of state pension, a person will need at least 10 years of contributions.
State pension is usually paid every four weeks and it is paid in arrears. The first payment will actually come within five weeks of reaching state pension age, so long as the person has actually claimed it.
State pension is not paid automatically, it will need to be claimed or deferred by the person involved. The government will send a letter to people in advance of reaching state pension age to advise them on how the system works and what the next steps are.
A person may not wish to claim state pension immediately, if they wish to defer it (perhaps because they wish to keep working) they could actually increase the amount they receive.
State pension will increase by the equivalent of one percent for every nine weeks deferred (so long as it is deferred for a nine week minimum).
This could equate to an additional six percent for every 52 weeks.
— to www.express.co.uk