Check your State Pension forecast now
Millions of people approach retirement without knowing what awaits them. A new HMRC press release highlights the scale of the problem. Almost 7 million UK adults could be heading towards retirement without knowing their State Pension entitlement. Therefore, it pays to check your State Pension forecast now.
The research findings
New research reveals a worrying gap in awareness. Around one in eight adults, or 12.5%, have never checked their forecast at all.
Interestingly, those aged 45 to 54 are the least likely to have looked. Yet this period matters enormously for retirement planning. After all, it still leaves time to act. Nevertheless, people of every age should check regularly. Waiting until retirement approaches simply removes your options.
What the forecast tells you
The State Pension forecast is genuinely useful. Specifically, it shows you:
- When you can claim your State Pension
- How much you could receive
- Whether you can increase your entitlement
Moreover, you can use it alongside your National Insurance record. Together, they reveal any gaps in your contributions or credits.
Filling gaps in your record
Gaps do not always spell disaster. In some cases, you may pay voluntary National Insurance contributions to fill them. However, proceed carefully here. Paying voluntary contributions does not always increase your State Pension.
Consequently, you should review both the forecast and your National Insurance record first. Only then should you make a payment.
How to check
Checking takes just a few minutes. Furthermore, it costs nothing at all. You have two simple options:
- Use the free HMRC app
- Go online via https://www.gov.uk/check-state-pension
Talk to us
Have you never looked, or has it been years since you did? Either way, check your State Pension forecast now. We can help you understand the results and plan your retirement with confidence. Contact our team today.
