State pensions – Your guide

Everyone needs to plan ahead for retirement. People are living longer and healthier lives, so it is even more important to think about how and when to save for retirement and how long to work.

The basic State Pension will give you a start, but to have the lifestyle you want in retirement you need to think about a second pension, and the sooner you can start the better.

To help you, this guide tells you how state pensions work. It looks at some of the questions you may need to think about and tells you where you can find more information.

Other guides in this series will give you more information about particular areas of pensions. Click here for details about how you can get copies of these guides.

These guides can give you helpful information, but only you can make decisions about your pension.

When can I get the State Pension?

You can get this when you reach State Pension age. At the moment, women can get their State Pension at the age of 60 and men can get their State Pension at the age of 65. From 6 April 2020, the State Pension age for both men and women will be 65. The Government will introduce the change gradually from age 60 to 65 for women over a 10-year period from 2010 to 2020. There will be no change for men.

If you want to know more about changes to State Pension age, please see Pensions for women – Your guide (PM6). Click here for details about how you can get a copy of this guide.

We will invite you to claim your State Pension about four months before you reach State Pension age. But you do not have to claim your State Pension as soon as you reach State Pension age. You can claim it later. If you decide to claim it later, the weekly amount you get will be higher but you will not be paid for the weeks you gave up. The Government is proposing to provide an alternative lump-sum payment rather than an increase to your weekly pension if you put off claiming your pension. This will happen from 2005 and will depend on Parliament approving it. We will provide more details in the future.

If you are considering delaying claiming your State Pension, you may want to get independent financial advice before you make your decision.

A number of things can affect your State Pension. For more information, please see A guide to State Pensions (NP46). Click here for details about how you can get a copy of this guide.