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Open the Retirement Savings Calculator →The UK State Pension is a foundation income for retirement, not a full replacement salary. Understanding how much you'll receive — and how to maximise it — is essential for any UK retirement plan.
| Pension Type | Weekly | Annual |
|---|---|---|
| New State Pension (full) | £221.20 | £11,502 |
| Basic State Pension (old — pre-2016 retirees) | £169.50 | £8,814 |
A qualifying year is a tax year in which you either paid, or were credited with, NI contributions. You get NI credits for:
Check your NI record and State Pension forecast at gov.uk/check-state-pension. You'll see exactly how many qualifying years you have and what your forecast pension is.
If you have gaps in your NI record, you can typically pay Class 3 voluntary contributions to fill them. The cost is approximately £824 per year purchased. Given it buys £329/year in pension for life, the payback period is just 2.5 years — an exceptional return, especially if you live to average life expectancy.
| Cost to buy 1 year | Annual pension gain | Break-even |
|---|---|---|
| ~£824 | ~£329/year | ~2.5 years |
Currently 66 for both men and women. Rising to 67 by 2028. A further rise to 68 is under review (likely in the 2040s). If you were born after 1960, plan for a State Pension Age of 67+.
Every 9 weeks you defer adds 1% to your State Pension. Deferring a full year increases it by approximately 5.8%. If you continue working at 66 and don't need the income immediately, deferral can be worthwhile — particularly if you have health suggesting a longer-than-average life.
At £11,502/year, the full State Pension covers less than half the typical £25,000/year target for a moderate UK retirement. You need workplace pensions, ISAs, or other investments to bridge the gap.
Enter your State Pension forecast plus your private savings. See if you're on track.
Open Retirement Calculator →NI contributions are deducted from your pay every month. Understanding what you pay — and why — connects directly to the pension benefits accumulating on your behalf. See our Take-Home Pay calculator for a full breakdown of your NI deductions by income.