For those approaching retirement there’s certain criteria that needs to be hit before a state pension can be claimed. Men can claim the new state pension if they’re born on or after 6 April 1951. For women, they’ll be able to claim if they’re born on or after 6 April 1953.

For those who reached the state pension age before 6 April 2016, they’ll get the state pension under the old rules instead.

The new full state pension is £168.60 per week whereas the old full basic state pension is £129.20 per week. The key factor in determining state pension income is national insurance contributions.

To receive any level of state pension a minimum of 10 qualifying years of national insurance contributions will be needed.

35 years will be needed to receive the full state pension. There is some range in what counts as a qualifying year, for both the employed and those unable to work.

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Once a claim has been made a letter will be sent out providing details on the payment schedule. For the new state pension, it is usually paid every four weeks into a preferred account.

The payments are made in arrears, which means they’re paid for the previous four weeks and not the coming four weeks.

The first payment will be within five weeks of reaching state pension age, which will be 66 for both men and women by October 2020. For the first payment, there may only be a partial payout but a letter will come with it explaining what’s to be expected gong forward.

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The exact day the pension will be paid depends on the individuals national insurance number. More specifically, the final two digits will determine what day of the week payment will arrive.

If the final two digits are between 00 and 19 the payment will arrive on Monday.

Between 20 and 39 will be Tuesday, 40 to 59 is Wednesday, 60 to 79 is Tuesday and finally anyone with final digits between 80 and 99 will be paid on Friday.

Payments should not be coming through on weekends. For those approaching retirement age, national insurance numbers are obviously important.

If they have been lost or forgotten, there are a number of methods available to find them.

National insurance details can be found on previous payslips, P60 forms, general letters about tax or pensions and in the national insurance section of personal tax accounts.

If it still can’t be located a “CA5403” form can be filled in or you can contact the national insurance numbers helpline.

It’s important to note that HMRC no longer send out the traditional national insurance plastic cards.



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