Anyone aged 16 or over and at least 30 days from their State Pension age can request a State Pension statement from the Department for Work & Pensions (DWP). The statement provides an estimate of how much State Pension they can expect to receive when they reach State Pension age. The estimate is based on the applicant’s National Insurance Contribution record as it stands on the date the statement is produced.
An application can be made online, by post or by telephone. The statement is usually sent within 10 working days from the time the DWP receives the application. The statement also includes information explaining what effect further qualifying years may have on the amounts shown in the statement.
The statement includes the date the taxpayer will reach their State Pension age based on the current law. The State Pension age is regularly reviewed and may change in the future. The estimate does not take account of future payments.
If you do not have 10 qualifying years of contributions the statement will only tell you how many qualifying years you currently have. Taxpayers are usually required to make a minimum of 10 qualifying years to qualify for at least a part of their State Pension entitlement.
It is worth undertaking a regular check to help optimise your entitlement to the State Pension. You should also consider what other savings or pensions might be required to fund your retirement.