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State pension entitlement: Latest online tool shows when you could boost retirement sum | Personal Finance | Finance


State pension payments are sometimes the bedrock of retirement, and plenty of will wish to get the utmost amount possible. The quantity of state pension an individual receives will depend on their record of National Insurance contributions.

At present, the brand new state pension is value £185.15 per week, typically for those with 35 years or more of eligible contributions. 

Some may get lower than the complete sum in the event that they were contracted out before April 6, 2016.

Nonetheless, to find out whether it is feasible to spice up one’s state pension, a great tool has been developed.

It has been launched by former pensions minister Sir Steve Webb, who’s well-known for drawing attention to a wide selection of state pension and retirement issues.

READ MORE: Retirement and me: Couple explain how they retired at 35 and 40

Topping up a state pension will likely be the fitting decision for some, but not appropriate for others. 

Consequently, Britons may need to take the outcomes from the tool to knowledgeable adviser in the event that they wish to realize further guidance.

Individuals can check their state pension forecast online, considered the “quickest way” to achieve this.

Other ways to use include filling in a BR19 application form and sending it by post, or calling the Future Pension Centre. 

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