How much National Insurance do you need to pay to get a State Pension?

Question markThe high profile WASPI (Women Against State Pension Increases) campaign has highlighted the confusion many people have over their state pension, especially the date from when it will be paid. Now, research from Aegon has revealed a similar lack of knowledge in relation to the National Insurance contributions needed to qualify for a full state pension. The survey found that: 57% of people underestimated the amount of National Insurance they need to pay to get a full state pension 25% of people thought they needed to contribute for less than 25 ...

State Pension: Do you understand yours? Thousands don’t

Businessman Drawing Question Mark SignA new report has claimed that thousands of people do not understand how State Pensions are calculated and that they won’t be entitled to the full flat rate State Pension when it is introduced. The Works & Pensions Committee, led by veteran MP Frank Field, has said that 55% of people will get less than the £155.65 flat rate State Pension, mainly because of gaps in their National Insurance record. The Committee also said that "failures of communication mean that too few people understand it". The report comes after ...

Retirement: Should you top up your State Pension?

Everything you need to know about deferring your State PensionFrom this week around seven million people have a unique opportunity to top up their State Pension and increase their retirement income for the rest of their life. What’s changing? Do you qualify? Should you take advantage of this opportunity? Read on and we will answer all of these questions and more. What’s changing? From next April the Government will introduce the flat rate State Pension, which for those who qualify will start at around £155 per week. However, anyone who has reached their State Retirement ...

Retirement: Are you one of the 50% of workers to miss out on the flat rate State Pension?

Are you one of the 50% of workers to miss out on the flat rate State Pension?New figures have shown that millions of workers retiring from 2016 will not receive the full flat rate State Pension. In fact, the research completed following a Freedom of Information request by Hargreaves Lansdown has shown that in the first five years nearly two million people will miss out on the full flat rate State Pension. The Government has introduced the flat rate State Pension an effort to simplify the complex system, whilst ensuring that saving into a ...