Worried about what you’ll get when you retire? A State Pension forecast will tell you in today’s money values. Anyone living in the UK who is more than 30 days away from State Pension age can apply for a forecast. You can request a forecast online or call the Future Pension Centre on 0845 300 0168. The forecast will tell you what you can expect from the following retirement benefits:

Basic State Pension

Your basic State Pension is the part of your State Pension that is based on the National Insurance (NI) contributions you pay, or are given as credits, during your working life. Your forecast will tell you in today’s money values:

  • the amount of basic State Pension you have earned already
  • the amount of basic State Pension that you can expect at State Pension age based on what you have earned already and what you might earn before you reach State Pension age
  • if there is anything you can do to improve your basic State Pension.

Additional State Pension and Contracted-out Deductions (COD)

Additional State Pension, also known as State Earnings-Related Pension Scheme (SERPS), is the part of your State Pension that depends on your earnings since April 1978.

Some employees are contracted-out of this scheme by their employers or by a personal pension scheme. If this applies to you, we will give you more information in your State Pension Forecast letter.

Your forecast will tell you in today’s money values:

  • the amount of additional State Pension you have earned already
  • the amount of additional State Pension you can expect at State Pension age based on what you have earned already and what you might earn before you reach State Pension age.

Graduated Retirement Benefit

Graduated Retirement Benefit is the part of your State Pension that depends on the amount of graduated NI contributions you may have paid between 1961 and 1975 when the scheme was in operation.

Your forecast will tell you in today’s money values how many units of Graduated Retirement Benefit you have and what they are worth.

If you are widowed, divorced or your civil partnership has been dissolved

Your late or former husband’s, wife’s or civil partner’s NI contributions can sometimes be used to help you get a better State Pension.

Your forecast will tell you in today’s money values the amount of State Pension you can expect by using your late or former spouse’s NI contributions, if this will give you a better State Pension than using your own contributions.

Source: The Pension Service. Crown Copyright.