Your name / Fred Bloggs
Your National Insurance number / AB123456C
Your date of birth / 23/10/1957
If you need to contact us about this statement, please ring us on 0845 3000 168 (textphone 0845 300 0169) and tell us this reference number ABCDEFGHIJKLM
Your State Pension Statement: Summary
This statement gives you an estimate of your state State Pension based on your National Insurance contributions record up to the tax year ending 5 April 2013. It is based on the law as it currently stands. Any changes in the law or your circumstances may affect the information provided. It is not a forecast of the amount you will get when you claim your State Pension, as it does not take into account any National Insurance that may be added to your contributions record in the future. We estimate that your State Pension, based on your National Insurance contributions record to date, is £113.82 a week. A breakdown of this amount is shown below. The earliest date you will be entitled to your State Pension is when you reach your State Pension age. This is on 23 Oct 2023 You do not have to claim your State Pension straight away, and you may be able to increase the amount you get if you put off claiming. There is more information on State Pension age, including how it may change in the leaflet Your Pension Statement Explained. Your State Pension Statement: Breakdown Basic State Pension This is the main part of the State Pension. The amount of basic State Pension you get depends on how many qualifying years you have on your National Insurance contributions record. You currently need 30 qualifying years to get a full basic State Pension, worth £110.15 a week. So far you have 38 qualifying years, worth £110.15 a week. If you do not already have the maximum 30 qualifying years needed to get the full basic State Pension, each extra qualifying year between now and when you reach your State Pension age is worth a further 1/30th of the full basic State Pension - about £3.67 a week. Additional State Pension and Graduated Retirement Benefit On top of the basic State Pension some people also get the additional State Pension (also known as SERPS and the State Second Pension) and Graduated Retirement Benefit. The amount of additional State Pension you get depends on your National Insurance history. You do not get additional State Pension for periods when you were paying National Insurance contributions on a voluntary or self-employed basis and, in some circumstances, when you were contracted out of the additional State Pension. You may get Graduated Retirement Benefit if you paid graduated National Insurance contributions between 6 April 1961 and 5 April 1975. We estimate that your additional State Pension and Graduated Retirement Benefit, based on your National Insurance contributions record to date, is £2.37 a week. The amount of additional State Pension could be lower than the estimate shown in this statement, especially if you were contracted out of the additional State Pension anytime between 6 April 1978 and 5 April 1997. There is more information on this in the leaflet Your Pension Statement Explained. The 30 qualifying years maximum that applies to the basic State Pension does not apply to the additional State Pension. Each extra qualifying year you have between now and when you reach your State Pension age is worth at least £1.75 a week additional State Pension. The actual amount will depend on your own circumstances, including your annual earnings. You will not get additional State Pension for periods when you are paying National Insurance contributions on a voluntary or self-employed basis and, in some circumstances, when you are contracted out of the additional State Pension. How much will I actually get when I reach State Pension age? We will only be able to tell you how much you will get when you actually claim your State Pension. The figures shown in this statement are in 2013/2014 values. The State Pension is usually increased each year to take account of inflation. To work out how much you are likely to be able to afford with your State Pension when you retire, you could think about how much it would buy you now. There is more information on what you may be able to do to increase your State Pension, as well as other things to save more for later life, in the leaflet Your Pension Statement Explained and at www.direct.gov.uk/retirement Questions you may have now: There is more information on the State Pension, and answers to the most frequently asked questions, in the leaflet Your Pension Statement Explained.