State pension 2020: How to check how much you can get and whether you can boost income
The state pension rises each year, under a mechanism which is known as the triple lock. While it’s not something which people overseas in certain countries are able to enjoy, for those living in the UK and other certain countries, the UK state pension increases each year by whichever is the highest out of the average percentage growth in wages, the percentage growth in prices in the UK as measured by the Consumer Prices Index (CPI), and 2.5 percent.
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This year’s rise was tied to wage growth, meaning in April 2020, it increased by 3.9 percent.
The full new state pension is now £175.20 per week.
However, the actual amount depends on one’s National Insurance record.
Additionally, it may be that some people get a higher amount.
Meanwhile, in terms of the basic state pension, the most a person can currently get is £134.25 per week.
It’s possible to check how much a person could get online, by getting a pension forecast.
This can be done using the “Check your State Pension” tool on the Gov.uk website.
The service can be used in order to find out how much state pension a person could get.
Additionally, users are able to find out when they can get it.
They will also be directed on how to increase the payment, if they can.
However, the service should not be used if a person is already getting their state pension, or if they’ve delayed claiming it.
There are other ways to apply for a state pension forecast.
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“If you’ll reach your State Pension age in more than 30 days, call the Future Pension Centre and ask for a statement,” the Gov.uk website states.
Another option is to fill in the BR19 application form and to send it in the post.
People who do this are advised that they will then get their statement within 10 working days.
The state pension age – which must be reached in order to get the state pension – is currently rising.
This means that some people may reach state pension age at a later point in their lives than they had previously expected.
It’s possible to check what one’s state pension age is online.
This can be done by using the “Check your State Pension age” tool on the government website.
In order to use the service, the user should input their date of birth, as well as state whether they’re classed as a man or a woman.
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