Money Minder UK

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What you need to know

In Brief: What you need to know

Thursday, 10 October 2019

In April 2016 figures revealed that 38% of people claiming the State Pension received less than £150 per week. The new State Pension requires that you have at least ten years’ National Insurance contributions and are a man born on or after 6 April 1951, or a woman born on or after 6 April 1953. If you have less than 35 years of NI contributions you will only receive a portion of the full pension amount when you are ready to begin claiming it. The State Pension is often the foundation of retirement income and understanding what you are entitled to could help you to plan more effectively for your retirement.

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