The Pearson Pension Plan

Your State Pension age is the earliest age you can start receiving your State Pension and is worked out based on your gender and date of birth. The State Pension is paid by the government, through the Department for Work and Pensions.

What is meant by a qualifying year for your National Insurance record?

The number of qualifying years on your National Insurance record will affect the amount of State Pension you receive.

You will usually need at least 10 years of at least one or more of the following, where you were:

• working and paid National Insurance contributions
• receiving National Insurance credits
• paying voluntary National Insurance contributions

You might also qualify if you have:

• lived or worked abroad
• paid married women’s or widow’s reduced rate contributions

Types of State Pension

• The new State Pension

  This is applicable if you are:

  • a man born on or after 6 April 1951
  • a woman born on or after 6 April 1953
  • have at least 10 qualifying years on your National Insurance record.
• The basic State Pension

  This is applicable if you are:

  • a man born before 6 April 1951
  • a woman born before 6 April 1953
  • have enough qualifying years on your National Insurance record. The number of qualifying years depends on your circumstances.
• Additional State Pension

  This is only applicable if you are eligible for the basic State Pension and will depend on:

  • how many years you paid National Insurance
  • your earnings
  • whether you were contracted out of the scheme
  • whether you topped up your basic State Pension.

How much will my State Pension be?

The new State Pension’s full rate is currently £221.20 a week for the 2024/25 tax year, depending on your National Insurance record. You can get a forecast of your State Pension on the GOV.UK website using the links below.

You should get a letter from the Department of Work and Pensions (DWP) no later than two months before you reach SPA, which will explain how to apply. If you do not get a letter, you can make a claim through the GOV.UK website or by calling the Pension Service.

When you apply you will need:

• The date of your most recent marriage, civil partnership, or divorce
• The dates of any time spent living or working abroad
• Your personal or joint bank or building society account details

After you have applied you will get a letter from the DWP to tell you how much State Pension you will get.

Frequently asked questions

• How will my State Pension be paid?

  The first payment is usually paid within 5 weeks of your SPA. This payment may be a part payment if you applied for your pension less than 4 weeks before, but you will receive a letter confirming the initial amount.

  Future payments will then be paid every 4 weeks and cover the previous 4 weeks. The day you get paid will depend on the last two digits of your National Insurance number, as shown in the table below:

  Last 2 digits of your National Insurance number	Payment day of the week
  00 to 19	Monday
  20 to 39	Tuesday
  40 to 59	Wednesday
  60 to 79	Thursday
  80 to 99	Friday

• Does my State Pension increase?

  The State Pension increased on the first Monday in April each year. The increase is set by the Government and is usually not confirmed until March.

  The basic State Pension and new State Pension, increase by the highest of the following:

  • Earnings – the average percentage growth in wages (in Great Britain)
  • Prices – the percentage growth in prices in the UK as measured by the Consumer Prices Index (CPI)

  If you receive the new State Pension and have a protected payment, it increases each year in line with the CPI.

• What is a Temporary Supplementary Pension?

  In some sections of the Plan, a Temporary Supplementary Pension (TSP) is payable to eligible members from date of retirement to SPA. If you are in receipt of a TSP, the pensions team will write to you before SPA to confirm the date the TSP will cease.

• Can I work past my State Pension age?

  When you reach State Pension age, it does not mean that you must give up work. You can continue to work and still receive your State Pension, or you have the option to defer which may increase the amount you get.

  You can, however, stop paying National Insurance contributions from your salary once you reach State Pension age, unless you are self-employed and pay Class 4 contributions. You stop paying Class 4 contributions at the end of the tax year in which you reach SPA.

  Any money you earn will not affect your State Pension, but it may affect your entitlement to other benefits such as Pension Credit and Council Tax Reduction.