Help Centre for Employees

How much is the State Pension?

The State Pension is the foundation for most people’s retirement income and is based on an individual’s National Insurance record.

The full amount of new State Pension is currently £168.60 per week1 – that’s just over £8,750 a year. The actual amount you get depends on your National Insurance record. The only reasons the amount can be higher are if:

  • ● You have over a certain amount of Additional State Pension
  • ● You defer (delay) taking your State Pension

You can still get a State Pension if you have other income like a personal pension or a workplace pension. Understanding what to expect from the State Pension will go a long way to helping you better understand the amount you need to set aside for yourself.

The State Pension calculator, is a useful tool to find out the amount you are predicted to get and the date you’ll reach State Pension age, under the current rules. Information well worth knowing.

1 As per 2019-2020 financial year

NP/HC0001

NOW: Pensions has a good technical infrastructure combined with a pension product suitable for our team. We couldn’t be happier with NOW: Pensions.
Martin Woods, SALT.agency