October 2015 – State Pension top up

  • JAN2015
  • FEB2015
  • APR2015
  • OCT2015
  • APR2016
  • January 2015: Automatic enrolment
    In January 2015, the government announced that 5 million people had been enrolled into a workplace pension. Click here to find out how it affects you...
  • February 2015: Get your State Pension statement
    In February 2015 the government extended the age that you can get a State Pension statement, meaning people aged 55 and over can find out their entitlement. Click here to find out how to get your statement...
  • April 2015: Pension freedoms and Pension Wise
    From 6th April 2015 people who retire will have more choices for how to use their pension pots, and the free guidance service Pension Wise will go live. Click here to find out more...
  • October 2015: State Pension top up
    From 12th October 2015 people who are already retired will be able to 'top up' their State Pension by up to £25 a week, through this new government scheme.
  • April 2016: State Pension changes
    The State Pension is changing on 6th April 2016, meaning that everyone who retires after that date will get the new State Pension. Click here to find out more...

There’s still no such thing as a free lunch, but there are some good investment options out there. In October 2015 the government launches a new scheme where you can buy between £1 and £25 a week extra on your State Pension. You simply pay a lump sum and you get the income back, for life.

It doesn’t apply to everybody though, so we’ve made a simple ‘top up’ checklist so you can decide if it is right for you…

✓ Available to anyone who reaches State Pension age before 6 April 2016 and is entitled to State Pension
✓ Boosts State Pension payments by between £1 – 25 extra a week upon payment of a lump sum
✓ Provides guaranteed income for life
✓ Inheritable by surviving spouses
✓ Payments rise with inflation
✓ Same rates for men and women
✓ Available from October 2015 to April 2017 only
Pre-register your interest now to receive more information about State Pension top up from the government. Just email [email protected] with the title ‘Interested in State Pension top up’.


Still not sure? Watch this video where freelancer Philip Morgan, 66, explains why topping up his State Pension is a good idea for him. [State Pension top up: why Philip thinks it’s a good idea”]
There are many more videos on PensionTube – a new YouTube channel which is ‘cutting out the jargon’ on pensions. Visit www.youtube.com/pensiontube to watch more.

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1st Oct 2015
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I won't be entitled to a state pension for a few years yet. I'm currently in receipt of a work pension. Will this affect my state pension? Has anybody any thoughts on this one?
4th Aug 2015
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This seems like a good idea, but it would be advisable to find out if you could get a better deal from an Insurance Company particularly if you have health problems you could qualify for an enhanced annuity.

It is also important to consider if this Government scheme would look so good if interest rates increased.
30th May 2015
Thanks for voting!
Do not even think of topping up your state pension, until you find out if you were contracted out of SERPs.

The SERPs opt out and your National Insurance record wipe each other, by the merger of calculating your state penson by these two things.

You cannot possibly make up the difference if you were opted out for some or all of your employment history. Even the years you were contracted out are effected as the government then takes an average over your entire working life as the calculation.


Lowest forecast seen so far is £8.39 per week after 45 years in work.


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