Omnium Employee Benefits

State Pension forecasting tool exceeds 10 million users

Since its launch in 2016, the government’s state pension forecast tool has been used by over 10 million people.

Anybody can now log on to the Check Your State Pension service and see how much they could get from the State Pension, and when they will be able to receive it.

The service also enables users to review their National Insurance record, meaning they can spot any gaps and fill in any missing years – allowing them to accurately determine how much state pension they will receive.

To qualify for the full state pension of £164.35 per week, or £8,546.20 a year, retirement savers need to have completed 35 years of National Insurance contributions.

Former pensions minister Steve Webb said the popularity of the service shows the importance of including state pension data in the pension’s dashboard, a platform intended to provide retirement savers with one location where they can see all their pension plans together.

Webb, now Director of Policy at Royal London, said:

“This is a very significant milestone and shows the huge level of public interest, not only in their private pension but in their State Pension.  

“For that reason, it is vital the proposed pensions dashboard includes State Pension information from the outset.  

“The transition to the new [State Pension] system will take some years, and it’s important that older workers use the online service to make sure they know exactly what they are going to get.” 

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