Notes

• Roughly how much will I need to live on when I retire?
  Try to work out how much money you will need to live on when you have retired to afford the things you'll want and the things you'll want to do.
• Will I qualify for the full basic State Pension?
  You cannot get your basic State Pension until you reach State Pension age (currently 65 for men and 60 for women). Details of how the State Pension age for women is changing are on the State Pensions page.
  
  You can get a basic State Pension by building up enough qualifying years before State Pension age. A qualifying year is a tax year in which you have enough earnings on which you have paid, are treated as having paid or have been credited with, National Insurance (NI) contributions. Men normally need 44 qualifying years to get the full basic State Pension; women currently normally need 39 qualifying years to get the full basic State Pension. In 2020, when State Pension age for women is raised from 60 to 65, the normal requirement will increase to 44 qualifying years for the full basic State Pension.
  
  To check the amount you will receive, you can get a State Pension forecast – see the details on the State Pensions page.
  
  The Government reviews the amount of the basic State Pension every year. The current rates are shown in a table under the Further information section.
• Will I qualify for an additional pension through the State Second Pension (formerly State Earnings Related Pension Scheme – SERPS)?
  The State Second Pension is payable when you reach State Pension age, on top of the basic State Pension. The amount depends on your earnings while you were in employment and the National Insurance contributions you paid. Since April 2002, you may also qualify for an additional State Pension if you are a carer or have a long-term illness or disability.
  
  Self-employed people do not qualify for the State Second Pension (formerly SERPS).
  
  Those employees who were 'contracted-out' of the State Second Pension will not qualify for the additional pension for the period when they were contracted out. Some people will be contracted out through an employer's occupational pension scheme and some through private pension arrangements. Check with your employer or pension provider if you are not sure.
• Does my current employer provide a pension scheme and how much will that give me?
  Check with your employer if you are not sure about membership. If you are a member of an employer's scheme, you should get regular statements setting out what your benefits may be when you retire. If you cannot find these statements, check with your employer.
• Am I already contributing to a personal pension scheme or a stakeholder pension? If so, how much income will they give me?
  If you are already contributing to a personal pension or stakeholder pension, you need to find out what retirement income they might provide. Look at the most recent benefit statements you have been sent, or check with your pension plan provider.
• Have I any old pensions, maybe from previous employers' schemes or from personal pension schemes? If so, how much income will they give me?
  Check on the pension plans you have contributed to in the past but no longer pay into today. You need to have some idea of the retirement income you may get from them.
  
  To check on the value of old pension plans, look at the most recent benefit statements you have been sent. If you cannot find any statements, contact your pension plan provider, for example the insurance company or the employer that offered the pension to you.
• Will the Government's Pension Credit make a difference to me?
  Pension Credit is designed to make sure that people aged 60 and over have a minimum income and that those aged 65 and over with modest savings get some credit for having saved. These savings could, for example, be in the form of an employer's pension, a stakeholder or other personal pension, or the State Second Pension. This is not a complete list, and you could have other savings that will count.
  
  For most people, it will pay to save in a pension or some other vehicle, even with the effect of Pensions Credit. For a limited group of people, however, the decision will not be so clear-cut, and these people will have to think carefully about their personal circumstances. In particular, people in their fifties and over who have not been able to save much and have only a limited ability to save as they approach retirement should seek expert advice before they take out a stakeholder pension. See Where to get more help page.
  
  You need to bear in mind that governments can change the rules for State Pensions and benefits at any time. So it may be unwise to rely on any particular type or level of benefit being available when you retire.