DWP has confirmed the latest processing times for people making a new claim for the State Pension.
The latest statistics from the Department for Work and Pensions show the State Pension currently provides regular financial support for nearly 12.7 million older people across the country, including over one million retirees living in Scotland. This payment is available for those who have reached the UK Government’s eligible retirement age, which is currently 66 for both men and women, and have paid at least 10 years' worth of National Insurance Contributions.
The reason money is not paid automatically when someone reaches State Pension age is because some people choose to defer making a claim in order to keep working and generate more income for their pension pot, especially if they have not paid the full quota of 35 years' worth of National Insurance Contributions, or were 'contracted out' - find out more here.
Which means, unless you respond to the letter confirming you want to start claiming State Pension, you will not receive any payments as the DWP will interpret no response as a wish to defer. it's also important to be aware deferred State Pensions increase each year in line with the September Consumer Price Index inflation rate and the highest measure of the Triple Lock policy.Basic State Pension payment rates 2024/25 Payments increased on April 8 by 8.5%:Increments to the following will rise by 6.7%Invalidity Allowance for State Pension recipients
Retirement Benefits DWP Personal Finance Pensions
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