The full New State Pension is worth £221.20 each week during the 2024/25 financial year.
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 men and women, and have paid at least 10 years' worth of National Insurance Contributions.
The member said: “When you get your ‘invite’ to claim for your pension and you apply online, you'll receive your pension every four weeks, however, if you call DWP then you can ask to be paid weekly or fortnightly instead. When I called them the staff member wanted me to apply online but I said I preferred to speak with someone to state my payment preference.”
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. Deferring your State Pension Deferring your State Pension could increase the payments you get each week when you decide to claim it, as long as you defer for at least nine weeks. Your State Pension increases by the equivalent of 1% for every nine weeks you defer, this works out as just under 5.8% for every 52 weeks.
Latest State Pension News DWP ‘starting amount’ for the new State Pension If you have qualifying years on your National Insurance record as at April 5, 2016, DWP works out a ‘starting amount’ for you for the new State Pension.Both amounts reflect any periods when you were contracted out of the Additional State Pension. Your ‘starting amount’ could be less than, more than or equal to the full new State Pension.
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