UK State Pension Explained: How MUCH will I get and WHEN will I get my State Pension?

[@anthonyjamesroyle9591]

if you have never worked like most of us OR YOU HAVE JUST ARRIVED BY BOAT DON'T PANIC THE STATE WILL TAKE CARE OF YOU you will get FAR MORE MONEY than us silly buggers who have worked hard for 50+ year's and if we go into a care home will have to sell our hard earned homes and saving's to pay for it , BUT LIKE I SAY EARLIER YOU DON'T HAVE TO WORRY YOU WILL BE TREATED LIKE KINGS AND GET FAR MORE THAN US STATE PENSIONERS so sleep well knowing you will always be top of the bill here.

[@californiadreamin8423]

Well as you said…. you’re a silly bugger. You should have spent less time behind the bike sheds, and grown a brain….because it shows, really shows.

[@kanderson4417]

Sad but true .Not refugees but retirees

[@hardipchima7828]

Stop being a sad racist.

[@mitchmitchell7470]

Actually you are wrong on a number of things . We are the lowest benefits awarded country in the EU, if you are not able to work because you are an illegal immigrant or claim benefits then you will get absolutely nothing

[@OneAndOnlyMe]

This is absolute nonsense and you know it. If you think anyone can live on state pension alone, you're deluded.

[@Senna-xi1gr]

Cheers Helena, Thanks for making pensions easier to understand. 👍🏆

[@chrisgreenwood271]

Thanks for taking the time to explain.

[@GudrunScharrer]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.

[@LorenaG.Cresswell]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge/professional

[@brownwellson54]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.

[@LorenaG.Cresswell]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@brownwellson54]

There are a lot of independent advisors you might look into. But i work with Stephanie Kopp Meeks” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.

[@LorenaG.Cresswell]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@johndyda5673]

I've said this before but the full state pension is a joke compared to other European countries. Also, I qualify having 45+ years of NI but someone who hasn't worked a day in their life gets a flat rate pension BUT they can get pension credits, free council tax AND any government help whereas I cannot. In other words someone who's never worked is better off than someone who has. Totally unfair.

[@Escapetheratrace-ji6rx]

This country is on another level of inside out, the whole thing isn't logical. It's always paid to be a lazy t**t or migrant here. They will never look after their citizens who contribute and pay for these parasites. Don't mind supporting people who genuinely can't work. But that number of genuine cases will be insignificant

[@G7IQJUK]

IF u retitre with just STATE oap penstion to live on as income . from april 2016 , current £189 week single / £174 old style B4 2016 . YOU HAVE less £10k/ £10.000 savings ??????. NO OTHER capital income ie private/ inworks penstions income ????. ALTHOUGTH u can own ur own home . U CAN claim rent rebate , council tax rebate . penstion tax credits . purely depends on other income & savings .

[@CUNDUNDO]

Very helpful video thank you !

[@edmundpotrzeba8455]

I wish I’d come across you video years , 👍👍👍👍👍👍👍👍❤️

[@mickbawn6815]

Thank you Helena you made things very clear X

[@sagayagambrun5149]

Blessings! Great explanation!xxx

[@williamhogan4031]

Very good,very clear...

[@stevebomonster]

Hi, good vid, I stopped working with 34 qualifying years 15yrs ago, yet when I retired last year at 66 my record suddenly changed to 33 qualifying years, that seems odd and does that mean I get less or do they just count the 30yr for the old pension scheme.

[@gordontelford4433]

How do I check if I am getting my full pension

[@grahamkearnon6682]

The system for pensions has basically failed/stopped. I applied to top up my state pension using a courier with a signing on delivery, that was 18 mns ago and, nothing.

[@alanskyrme9048]

How did the Government justify the freeze on index-linking pensions for those living outside UK? Mine is not even a full pension as I wasnt always in a position to top up gaps in contributions. At this point I have lost about 10% of my pension due to this freeze.

[@MrRonyag]

How about telling us what the minimum state pension is ie 10 years of NI contributions as some may only have paid in for 10 years

[@gordontelford4433]

Sent

[@candlewax5234]

My gov pension was 46 years NI contributions, but i didn't qualify for full state pension because i had a non contributory works pension of 19 years. I didn't know that until i retired so i didn't get the chance to add to it.

[@queenofstonehouse5568]

I retire in 2027 I have spent most of my working life paying into an Occupational Pension and was contracted out of SERPs until 2015 when you could no longer be contracted out. I will get the new single tier State Retirement Pension which they say you only need 35 years to get the full pension. But Martin Lewis did say if you were in an Occupational Pension Scheme you will need more years. He was right I found I needed to have 42 years to have a full state pension, this I have got but they always penalise those with Occupational Pensions. Most of us cannot get means test benefits, we pay tax and dip out of everything.

[@8ballphil150]

also if you are a widow or widower you can receive part of your spouses pension .

[@queenofstonehouse5568]

I will have a full state pension when I retire at 66 years and 9 months in 2027. Most of my working career I paid into Occupational Pensions so was contracted out of SERPs. With the new single tier state pension that came in April 2016 I found I needed 42 years to qualify and not 35 due the years I was contracted out. I found this annoying as us with Occupational Pension save the Goverment money as our entitled to means tested benefits reduces and in some cases we get no means tested benefits as all. Also us with Occupational Pensions Pay Tax.

[@robbloom272]

Informative as ever! Thanks 😊

[@Fitnessworld-p6p]

How to request an invitation code from website it's not working

[@norfolkdrummerboy]

Brilliant young lady clear, short, understandable thank you

[@davidbeard90]

By 2037 we wont even have a world or population. I seriously feel sorry for young people this far off from it, including some of my own. Since 2019 so many mad people have shown themselves and their lust for self destruction.

[@tigading2177]

a very astute observation, but one which will be lost to most people here. there is no real govt anymore, mostly are just corporate puppets serving only wealthy elites hiding behind powerful corporations. shame that there's no money for social programmes but plenty for wars.

[@akn6360]

Hi Bouncing if I receive earnings from my payed off property, will I still be entitled to receive my state pension.

[@craigberesford726]

Yes but you will be subject to pay tax on anything above 12500 combined income

[@marianhunt8899]

Great info. Thank you.

[@phraalanjames6184]

I am a 75 year old English Buddhist monk living in Thailand. I have received no increase in my pension over the last 10 years because Thailand is not included in the countries where pension increases are given. Will this be different with the pension rate rises being offered in 2022?

[@georgeswampy6224]

Not if the Tories have anything to do with it. But be assured, it will not stop the Tories from giving themselves a yearly salary increase in between twelve and eighteen percent year in, year out.

[@davidbeard90]

I remember you from the John Lennon video. Or it was someone looked like you.

[@jamiegleave7620]

Hi Helena, long time no see. Your videos just popped up as a recommendation 😃

[@BouncingBack]

Hi Jamie, even on KZbin, it's a small world! Good to hear from you, hope all is well with you.

[@jamiegleave7620]

@@BouncingBack Yes all good thanks, hope you are too. Subscribed 😉

[@BouncingBack]

@@jamiegleave7620 Thanks Jamie, much appreciated. Just doing my bit to help people manage money better in these hard times and sharing good practice I've learnt over the years. Take care

[@bestboy1057]

Why am I being age victimised with the new state pension payments. I was born August 1945 and my understanding is I don’t the new state pension although I’ve paid all my national insurance stamps (45) and all my taxes since starting work at 15 years of age and never unemployed yet in the last years I’m losing out to people 5 years younger how can that be? We’re talking about £2000 year.

[@mapstheway9763]

The online tool is NOT ! Easy its bloody impossible, and trying to phone is a joke they never ever answer 🤦‍♂️

[@gazzam3172]

really i found it very easy?

[@mapstheway9763]

@@gazzam3172 eventually passed the test by fluke though 👍

[@nickaskham3055]

Thank you for the video. I am 49 with 27 qualifying years from employment and self employment. I want to retire early and live off property rental income of 25K. Can I contribute to my qualifying years from property income?

[@queenofstonehouse5568]

You need to pay a Class 3 National Insurance Contribution (a voluntary contribution). You contact HMRC and they set you up with a Direct Debit to do this. Mind you if you are getting money from rentals then you are self-employed and you should be paying Class 2 National Insurance Contribution (self employed one) and possibly Class 4 by law and this counts towards your state pension.

[@donking2000000]

does salary sacrifice for pension purposes invalidate your qualifying years of NI?

[@BouncingBack]

No, you will still pay NICs which will count towards your qualifying years, you will just pay less each month in NICs due to you sacrificing a portion of your salary.

[@davidplanet3919]

Thank you. Whilst the online pension checking tool is Ok, it could be better. It doesn’t show 2016 the starting amount anymore (though it did originally) and doesn’t always give a current estimate and a forecast. Some people only get a forecast . They may know they will get the full new state pension if they work a further X years but won’t know how many of these are actually needed. This might be important if one wants to retire earlier and live of other pensions.

[@degsbabe]

Can you tell me please . I am in no mans land pension wise being 64 years old. My GP has declared I am unfit for work due to disability. Is it possible to claim state pension early and if so , how?

[@BouncingBack]

Hi, you can only claim state pension once you reach state pension age. You can claim any private or workplace pensions from the age of 55 though - if you have any. If not, you may be entitled to other benefits until state pension age if you are unfit for work. You could take a look at the link below to see if that helps www.gov.uk/employment-support-allowance

[@degsbabe]

@@BouncingBack zThats not really what I asked. You've obviously got your mind elsewhere more profitable.

[@BouncingBack]

@@degsbabe Hi, I did answer your question and it is no you cannot access your state pension early. You can only access your state pension from state pension age. My apologies for trying to help in providing potential alternative options.

[@gazzam3172]

@@degsbabe sorry but you are a fool she did help you?

[@degsbabe]

@@gazzam3172 p!$$ off gazz. Get a job.

[@jasmindixon9323]

my husband died ,how can i claim the pension of my husband pass away,can you help me.because taylor emmet solicitor siobhan gibson said still inquiry.

[@BouncingBack]

Check to see if you quality for the UK State Pension and how to check how much you may receive

[@janes9055]

The online system easy to use - BS! I cannot get verified on the system as I don't have a passport and still use my original paper driving license. I tried all he available methods and even one that claimed it should work for me didn't as I also do not Internet bank. I get my pension forecast by phoning up and they then send it to me. The government verification system needs looking at so it doesn't block people - I mean what is wrong with using a valid paper driving licence instead of forcing people to get the photo one?

[@gazzam3172]

get with the times!

[@janes9055]

@@gazzam3172 I don't travel abroad so why should I spend over £100 to get a passport? My paper driving licence doesn't expire until I'm 70 so why would I want one that I have to remember to renew every few years? As for Internet banking , when I no longer know anyone who could break the security I will Internet bank. Also when the banking policy is not to blame the customer when the bank security fails it will be a step in the right direction. New technology is not necessarily better.

[@kathydoyle1857]

@@janes9055 Well said!

[@ellataylor6178]

I spent 23 years bringing up my boys ,because I was a stay at home mum. Will this count towards my contributions when it time to retire?

[@solotraveller888]

Why did you have children then?

[@G7IQJUK]

U HAVE to pay min 35 yrs CLASS1 /NI/ PAYE / between AGE 18- 66 to get FULL state OAP penstion .

[@queenofstonehouse5568]

If you were claiming Child Benefit for a child under the age of 12 you would have got a NI credit. However, it is for a child under 12. You needed 10 years to get the minimum state pension so with one child you will get the minimum.

[@joprocter4573]

Government should be charged with misappropriated investment. Loss of computer glitches Loss of employers contributions Freeze on pensions raised every party in power over years so today's pension very poor. Lending /giving funds to other countries and ppl who have no way ontributed enough for one. Our pensions should not be less than Germany and France EU rate. £468 and £538 last viewed. If pension DOSNT get paid until many weeks after retirement SHOULDN'T same timescale needs to apply on death. WHEN are, waspi going to be compesated

[@dawoodfaiz-mahdavi7297]

is not fair for cutting tripol lock to go down to 2.5%, pensioner, with increase small pension, is not much greater, the prices up, fuel up and council tax is up?

[@BouncingBack]

I agree the increase is poor especially with high inflation - the increase will actually be 3.1% in 2022 - video on it being released on Wednesday.

[@andyhailes9120]

Hi really enjoying the videos ... Can you explain how COPE affects the state pension forecast....Do I need to subtract the COPE part away from the forecast to calculate what the state pension only will be.. Thanks.. Andy

[@BouncingBack]

Thanks your your comment. An estimate of your COPE will be shown if you use the online Check your State Pension service or if you request a State Pension Statement through the post. There is more information on COPE at the link here which should provide the info you need: www.gov.uk/government/publications/state-pension-fact-sheets/contracting-out-and-why-we-may-have-included-a-contracted-out-pension-equivalent-cope-amount-when-you-used-the-online-service

[@andyhailes9120]

@@BouncingBack Many thanks for the link, I really appreciate you getting back to me.. I read through it and added it to my spread sheet for future reference.. Sorry to ask but do i subtract the COPE from the forecast to get what the state element would be...It would make sense but just double checking. Many thanks again and looking forward to the next videos and I'll probably take more of a look at the investment ones going forward.

[@macman6421]

@@andyhailes9120 You should ignore the COPE figure, it has no relevance now. The COPE was only used in 2016 to calculate your new state pension entitlement.

[@Scandinavianman9]

Brilliant video with clear advice, thankyou for sharing, btw class 3 credits will be added to state pension upon retirement. Very best regards, great work.

[@nicted9308]

Hi thanks for the Info, I left the UK around forty years ago and I think I have only paid in for nine years. As the requirement is ten year paid In before you can receive any payment can I buy one year back. If so coul you tell me how much it would be please. Many thanks

[@BouncingBack]

Hi, there is useful information at the links below which give you info on how to buy class 3 NI contributions to make up for missing years and an indication of how much it costs: www.which.co.uk/money/pensions-and-retirement/state-pension/can-i-top-up-my-state-pension-an0q09p37nsj www.gov.uk/pay-voluntary-class-3-national-insurance

[@nicted9308]

Thank you so much for your quick reply I will check out the ling below.

[@georgeswampy6224]

NOTHING if the Tories have anything to do with it.

[@chrishaps6846]

I have " unqualifying "years ( I was over seas 30 yrs ) , I am 54 years old - is it worth it to " catch up " ?

[@queenofstonehouse5568]

A con to watch out for if you claim benefits. Your benefit entitlement letter and leaflets will say you get a NI credit for each week you claim the benefit but what they do not tell you if you do any work you do not get this credit. You find out a few years latter when you get a letter to say you do not have sufficient contributions for that year and if you want it to count you need to pay x amount of £s. I got caught out on this when I did agency work. Some weeks I would only have work that paid below the NI bracket so the DWP did not give me a credit. I appealed and got no where that is why when I am unemployed I do no agency or any job that pays below the national insurance bracket. Stupid as the Job Centre is encouraging you to take up part time work and building up your hours but at the same time jepodising your State Pension. Like my ex husband use to say you are in the system or you are not and you can get halfway between.

[@kanderson4417]

If the best you can do after 40 years of work is have to live on a state pension. You deserve the scraps that the government has for you. The lesson for today and everyday is don't rely on people that have no concern for your wealth fare.

[@RonShiel]

After 44 years of full contributions why is my UK state pension less than 1/2 of UK living wage?????

[@BouncingBack]

That's a subject to write you your MP about! The UK state pension is one of the lowest across the globe.

[@RonShiel]

@@BouncingBack thank you for your advice but i live in france

[@colingriffiths4020]

Hi Helena, are you able to do a video on what a couples entitlements are regarding a state pension and why they would receive more if they were single?

[@zahoorahmed7226]

Paid contribution full 36yrs and 7yrs some weeks are missing. How this workout ? My wife has been housewife & never work will she be entitled pension too?

[@BouncingBack]

I too have weeks missing in my record, this often happens if you work part time and your earnings have meant that you did not contribute enough. I think I have about 8 years missing as a result of what the government calls 'insufficient contribution'. Some employers also took the decision to opt out, which may have affected you. The best thing to do is call up the Dept for Work and Pensions if you have any queries about your record. You need 35 qualifying years to get the full state pension. As for your wife, if you have children and she claimed child benefit in her name, then she will have national insurance credits for that. Again, it is best to call the DWP as your own personal circumstances can affect entitlement.

[@zahoorahmed7226]

@@BouncingBack Many thanks.

[@BernadetteMcGovern57]

It’s nothing comparing to other countries

[@wontbelongnow5567]

What about the people who have just arrived on a boat some will never get years in. but will get full pension. Also my friend who never paid any tax and national insurance. Comes from gypsies back ground. Just got full pension and never paid a penny in . In some cases the rules are thrown out the window. Even if you don't get full pension you will get make up money to live on so don't worry about it .

[@jimmyanttaylor8030]

I have 41 years no gaps and im still at same place so I'm ok dole dossers shouldn't get anything

[@156dave]

It would be good if you could take the state pension as a lump sum of say 24 times it’s value around 240K You could then take 25% tax free and invest the rest in the stock market and use flexible drawdown It would also allow you to leave an inheritance instead of loosing the pension when you pass

[@samanthabotheju9284]

I have to give up my work to look after my husband 2010. Seice i have look after my husband . Now he is bed ridden . I don't know how to claim his pension when he is not this world. We haven't got any children . I am 61 but i didnt claim any. We live on my husband pension . He is now 81 years and very sick. What can i do?

[@BouncingBack]

Phone the department for Work and Pensions as they will know the details of national insurance contributions you have both made and what you are entitled to.

[@samanthabotheju9284]

@@BouncingBack i tried Call but they don't answer the phone. Now i am stuck in sri lanka. I can't come back yet due to covid. What can i do. Please tell me , if the person start to get pension , he/her has to feel the benificiary form. My husband didn't remember anything

[@BouncingBack]

@@samanthabotheju9284 You will need to contact the dept for work and pensions. If they are not answering the phone, then write to them, or print off any relevant claim form, fill it in and post it to them or complete the appropriate online form. You will have to contact them by one of those means.

[@samanthabotheju9284]

@@BouncingBack Thank you

[@TenBob]

If you were born in 1957 you actually have to wait 6 years regardless. 👍😎🍀

[@yusufsidat1230]

I have received state pensions £169 in India for temporary stay. If I move permanently still I get same amount? and ist possible to contact with by email

[@BlakAdda01]

Thank you for your information. But, I want to check my wife`s pension - & the Gov web site is as clear as mud!! I, myself draw state pension, the maximum - I was born 14th May 1951. My wife was born 13th Jan. 1956 - we married in 2001. She has a NI number but has only worked a short period of time, being a housewife for the majority of time. Is she entitled to any sort of pension at all? Secondly, if I were to die, what provision does my wife get from the state? Many thanks

[@ellataylor6178]

Oh I meant to say I claimed child benefit. for 23 years.

[@BouncingBack]

If the child benefit was in your name, you should get NI credits for those years which will count towards your state pension

[@ellataylor6178]

Thank you, as everything changes so fast fast its reassuring to get good advice.@@BouncingBack

[@vicovanlit1296]

In The Netherlands we have a State pension (AOW) of 900 euro netto each persen .Wo lives from his 15th till 67th in Netherland For each year les minus 2% .If you ar single you get Max. 1300 euro. And as you had normal job for 50 years en you have also payed extra pension includ your boss.You can have also beween the 600 till 1300 euro Our pensionfunds have 1700.000.000.000. euro cash.

[@firedoorpushkin2341]

WHAT A LOAD OF PRE-AMBLIC WAFFLE

[@stephenboyd4934]

Basically correct because it's all going under one system / universal credit so if you haven't enough through your state pension, they will make it up by means testing when you drop below a certain level of savings, currently 16k

[@Goldwingbob1]

Pensions

[@Markkronn]

A friend of mine is an asylum seeker living in a hotel.. Will they get a state pension as well?