Knowledge Base
Understanding your State Pension
When planning for retirement, it’s important to know exactly what you’ll be entitled to, and for most people in the UK, the State Pension forms a key part of that.
The amount you’ll receive is based on your National Insurance (NI) contribution record. To get the full State Pension, you’ll usually need 35 years of qualifying NI contributions. You can still receive a partial State Pension if you’ve paid in for at least 10 years.
How much is the full ‘basic’ State Pension?
Most people qualify for at least a full basic State Pension (sometimes more), but it’s a very good idea to check how much you will get and when you will receive this.
How can I check what I will get?
You can request your State Pension forecast (BR19) in a few simple ways:
- Online using your Government Gateway ID, which is quick and easy to set up. Check your State Pension forecast – GOV.UK.
- By post, by filling in form BR19 and sending it to the Department for Work and Pensions (DWP). Application for a State Pension forecast – GOV.UK.
- Calling the Future Pension Centre directly. Contact the Future Pension Centre – GOV.UK.
What if I have a shortfall?
If your forecast shows that you won’t receive the full State Pension, don’t panic – you may be able to top up your NI record by:
- Paying voluntary NI contributions (also known as Class 3 contributions)
- Claiming NI credits if you were eligible for them in past years (e.g., for time spent as a carer or unemployed)
- Backdating contributions, in some cases, up to 6 years – and sometimes further, depending on government extensions
Need help navigating your Pension?
For most people, the State Pension is the foundation of their retirement income and knowing how much you’ll get is vital when assessing your retirement income.
We will always ask you to obtain a State Pension forecast as part of the advice process – so the sooner you do this, the quicker we can help
As pension transfer specialists, we not only help with workplace and private pensions, but we also make sure you understand your State Pension entitlement – and how it fits into your overall retirement plan.
Get in touch today if you’d like help checking your NI record, reviewing your BR19 forecast, or exploring your pension transfer options.
Pension Transfer Consultation
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Simply complete your details below, and we will send you our Pension Transfer Consultation Pack and Enquiry Form.
As part of the consultation we will look at:
- What existing pension plans you have in place.
- What your plans are for retirement.
- Your needs for flexibility and control.
- The likely cost of more in-depth advice.
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Defined Benefit Pension Transfer Warning
Transferring away from a defined benefit pension scheme means you will lose valuable guarantees.
Taking benefits early will almost certainly reduce your pension income in retirement and is only suitable for a limited number of people and circumstances. This should not be seen as an easy option for raising cash.
If you release all your money from your pension early you will not have anything left to provide you with income in retirement.
When releasing cash from your pension, usually up to 25% is tax free, the balance is taxed at your marginal rate at the time and could change in the future.
Watch the FCA video explaining the expectations of financial advisers when advising you on defined benefit pension transfers.
Grove Pension Solutions Ltd is authorised and regulated by the Financial Conduct Authority (Reference number 465051).
What our clients say
First I want to thank both you and all your staff for helping us through this difficult decision period. You usually only retire once and so are novices at all the procedures.
Thank you for your understanding, taking us through this process so we finally understood what was needed. I will be happy to recommend you to all our friends and family should they ever need these services.
Once again you have our sincere thank
I cannot thank Grove Pension Solutions Ltd enough! From the outset to completion, my mind has been put at rest throughout. I had to make a very difficult decision with regard my pension recently due to ill-health / a terminal illness.
It was a tough and lengthy process from start to finish, however, the staff I spoke with were wonderful, in particular, Gina. They have professionalism to a T. Friendly, courteous, knowledgeable and above all, understanding.
Grove Pension Solutions assisted in moving my company pension to a personal pension, which will allow me to retire 7 years earlier than planned.
Since the FCA have made this option very difficult, Grove made the process very swift and smooth, with true professionalism throughout the process. The communication was excellent at all times, and there was always someone to answer a question if it arose.
I would highly recommend Grove Pension Solutions for your personal pension requirements.
Grove managed the transfer of my pension swiftly and kept me in touch with the process at all times. On occasions when I telephoned with questions they were patient, and regardless of who I spoke to, the staff were knowledgeable, friendly and reassuring. Grove Pension Solutions went above and beyond to complete my transfer and I cannot thank them enough.
Nothing is too much trouble, everything was explained in plain English and I was asked several times if I wanted to go through with any information again or any questions , all staff were professional and completely “knew their stuff” they returned calls when promised such a pleasure to do business with a very big thank you
In the final stages of my transfer, throughout the process the service has been very professional, regular updates by phone and email, the advisors are very friendly and explain the process in an easy to understand way. Have recommended to two other people already, wouldn't have any hesitation to use Grove Pension Solutions again, 10/10 thank you.