State Pension Age Calculator

With the average life expectancy increasing, governments are having to pay more and more in state pension costs for longer periods of time, as well as having to pay even more people. In order to meet the standards that are set, the age for state pension is increasing at a steady pace.

By the year 2018, the state pension age will have reached 65, which is in consideration to both men and women. By October 2020, it will have increased to the age of 66. By the year 2028, it will have increased to 67. From then on, the government intends to review the age barrier for state pension every five or so years. In order for you to find out at which age you will meet the requirements for state pension, give our State Pension Age Calculator a try. The only details we require to provide you with the information you need is your date of birthday and your gender.

Your State Pension and NIC (National Insurance Contributions)

How much state pension you get is dependent on how long you have been paying National Insurance Contributions. In order for you to receive the 'full basic state pension', you will have to have made a minimum of 35 years (beginning April of 2016) worth of NICs, although if you have made less than 35 years worth of NICs you are still able to receive the basic state pension, the amount you receive will differ based on how means years worth you have contributed.

When it comes to National Insurance Contributions, they are split into different categories. These categories are known as 'classes'.

• Employees pay Class 1 contributions
• Self-employed people pay Class 2 contributions
• Class 3 contributions are most commonly paid on a voluntary basis

Who is Qualified for Basic State Pension?

If you are unemployed then you are still able to qualify for the basic state pension through the use of National Insurance credits. These credits are able to contribute to any spaces in your records. You are able to obtain credits if:

• You have been unable to attend work due to an illness, maternity leave, or unemployment issues
• You are a parent of child who is below the age of 12 and you have been claiming for child benefit
• You are caring for someone who either has an illness or disability, or if you are either a foster carer or have been receiving Carer's Allowance

If you are employed, you qualify if:

• You earn a minimum of £123 each week, totalling to roughly £6,396 annually, or you have received working tax credit
• You are self-employed and have been paying Class 2 NICs

The Second State Pension

Originally, The Second State Pension was designed for employees to receive more on top of the amount of weekly state pension that was already being received. The Second State Pension, otherwise known as S2P or Serps, was removed in the year of 2016 and was instead replaced with a flat-rate state pension. This was done in order to prevent additional state pension from building up and has a reflection on the pension that has been received in the past.