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State pension

Updating author: Kate Upcraft

Summary

  • The state pension age for men is 65. It is in the process of increasing from 60 to 65 for women. It will have reached 65 by 6 November 2018. It is due to increase to 66 for men and women by October 2020 and 67 by 2028. (See Future developments)
  • From 6 April 2016, there are three pension populations. (See State retirement pensions - overview)
  • Prior to 6 April 2016, the state pension system combined a basic retirement pension as well as an additional pension (the state second pension (S2P)) for which employees could earn an entitlement. (See Basic state pension)
  • From 6 April 2016, there is a single-tier state pension. The single-tier state pension effectively replaced the basic state pension and the S2P. (See Single-tier pension)
  • To qualify for a state pension, individuals must have paid or been credited with a certain level of national insurance contributions. (See Basic state pension and Single-tier pension)
  • Those with a national insurance contribution history starting on or after 6 April 2016 will qualify for the single-tier pension. (See Single-tier pension)
  • Individuals who reach state pension age on or after 6 April 2016, but who have a national insurance contribution history starting prior to this date, qualify for the single-tier pension, revalued to take into account their contribution history. (See Single-tier pension)
  • Pensioners who reached state pension age prior to 6 April 2016 receive the basic state pension and may receive an additional state pension. (See Basic state pension)
  • There is a "triple lock" attached to the rate of the state pension. (See Single-tier pension and Basic state pension)
  • Individuals can enhance the amount of their state pension by delaying when they receive it. (See State pension deferral)