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What is the current State pension?

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I can't make sense of any website I've looked at today. One says £67, another £114 and another £144.

Does anyone know?

Comments

  • dunstonh
    dunstonh Posts: 119,743 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    The current basic state pension is £113.10 pw assuming full contributions.

    On top of that you could have some additional state pension entitlement through qualification for graduated, SERPs or S2P.

    If you are retiring after the change to the single state pension then the long term figure is often quoted at £144 (but also figures like £155 have been quoted based on indexation of the earlier figure). However, that figure will depend on your past and future qualification.

    You can get a state pension projection based on your circumstances using form BR19. If you have registered for Government Gateway, you can get a projection on-line within minutes. You can phone for a projection as well.

    https://www.gov.uk/government/publications/application-for-a-state-pension-statement-form-br19-interactive-pdf
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • JezR
    JezR Posts: 1,698 Forumite
    Part of the Furniture 1,000 Posts
    £67.80 is the basic state pension for people relying on contributions from a partner (married or civil) where their own would result in a smaller one.
  • jamesd
    jamesd Posts: 26,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If this is for you, get a state pension statement that you can request online. The current state pensions are in three parts:

    1. the basic state pension. This is £113.10 for a person who has 30 years counting towards it from working or receiving child benefit or some means tested benefits.
    2. the additional state pension. For a full working life this is quite likely to increase the total amount to around £190 and the maximum can be around £250 for lifetime high earners.
    3. graduated retirement pension. A previous version of additional state pension that those who were working between 1961 and 1975 would get. Same sort of effects.

    1 stops increasing after 30 years. 2 and 3 would increase for as long as you were paying NI and not contracted out.

    A person who was in a workplace final salary pension would normally have been contracted out of parts 2 and 3 and would get the basic state pension additions only for those years, with the other two accumulating during the years in which they weren't in one of those or contracted out personally.

    Because of the range of values it's necessary to get a state pension statement to determine your individual situation.
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