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How much is the UK State Pension?

I believe the UK State Pension payment has recently changed. How much is the UK State Pension per week?

How much is the UK State Pension?

The full new State Pension is £155.65 per week.

However, the amount of UK State Pension you will receive will depend on three factors. Firstly, when you were born; secondly, where you live and; finally, how much you have paid through national insurance contributions.

If you reached State Pension age after April 6th 2016, you qualify for the new State Pension rules. Under these new rules to receive any State Pension, you would need to have 10 or more years qualifying years of National Insurance contributions. Depending on your National Insurance record, the amount of State Pension you receive will go up or down.

Your country of residence will determine whether your State Pension payments will increase. For example, if you now live in Australia, Canada, New Zealand or South Africa, while you can still claim your State Pension, it will be frozen at the rate when you arrive in your new country of residence, or when you first become eligible to receive the State Pension.

For people who reached State Pension age before April 6th 2016, the old rules will still apply which means that the maximum you can receive is £119.30 per week. You will need to have 30 full years of National Insurance contributions to qualify for the full State Pension.

Last updated: 14 June 2016 at 13:50