We have many meetings with clients during the year. Invariably one of the subjects which gets mentioned quite a lot is a state pension forecast.
A state pension forecast provides an estimate of how much you’ll receive at retirement, when you’ll qualify, and whether you can increase the amount. It is based on your National Insurance (NI) contributions record. To receive the full new state pension, you typically need 35 qualifying years. A minimum of 10 years is required to receive anything at all.
One way to get a qualifying years contribution is to be paid above the lower earnings limit for a tax year.
Also, if you’re self-employed, you can get a year’s qualifying contribution by paying class 2 national insurance. This is automatic for anyone self-employed who owns above a certain level, currently £6,845. If your profits are less than this, you can pay class 2 NI voluntarily.
There are also other means by which to receive qualifying contributions, including the receipt of Child Benefit.
The easiest way to get a state pension forecast is to check via your government gateway account. This should tell you how many years contributions you’ve already made, and gives you an idea of how many you need to make. You can also check through the HMRC app.
Regular reviews help identify any surprises (in cases where you may have gaps), and the state pension age is also subject to reviews. The age it is paid at may change in the future.
To get a state pension forecast, start here.
19.12.25
