Safe haven in the storm – plan for the future

In an ever changing world, it’s important to think ahead and plan for the future.

If you’re over 50 you’ll probably be thinking about your future and your retirement and you will also be bombarded by advice. Here at Silversurfers we like to cut through all the noise out there and give you some straightforward tips.

You may be aware that the State Pension has changed recently. It’s important to keep track of how much State Pension you could receive, as it can be the cornerstone of your future financial planning.

However, not everyone will get the same pension amount because the new State Pension is normally based on your own National Insurance record.

Get to know your State Pension

It’s easy to check how much State Pension you could get online. See our tips panel to make sure you have all the support information you need.

Here you can see an online forecast of your State Pension amount and the age when you will receive it.

You can use this service as a way to ensure you can accurately plan for your future retirement and know what your financial situation will be.

A few facts and figures

Are you eligible for the new state pension?If you are a man born on or after 6 April 1951 or a woman born on or after 6 April 1953 then you will receive the new State Pension.

If you reached State Pension age before 6 April 2016, you’ll get the State Pension under the old rules instead.

How much is the State Pension?In the 2016-2017 tax year, the full new State Pension is £155.65 a week. Over £8,000 a year.

However, not everyone will get the same amount.

How is my pension calculated?

Take a look here:

Your pension is normally calculated based on your National Insurance contributions.

If you paid National Insurance before 6 April 2016, this will be used to calculate your ‘starting amount’.

Can I add to my pension?Yes, if your ‘starting amount’ is less than the full amount, you will be able to add to it through further years on your National Insurance record, until you reach the full amount or your State Pension age, whichever comes first.
How many years National Insurance contributions do I need?You’ll usually need a minimum of 10 years to qualify. These can be spread out and don’t have to be 10 years in a row.

Tips for checking your pension online (call out panel)

  • Go to
  • You will be given 2 options to log in – the easiest option is to use government gateway. (If you already have a government gateway ID for your personal tax account, you can use this, but if you have a business ID you’ll need to get a personal ID)
  • It’s simple to register, you need to enter a few personal details such as you date of birth, national insurance number, and your home or mobile number (make sure you’re near your phone as you will be sent a security code to enter)
  • You also need to enter some details from either your passport, P60 or a recent payslip
  • All your data is held securely, and once you’ve registered it’s quicker and easier to log in again.
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Mother of three grown-up daughters I am the ultimate multi-tasker and am passionate about my role as Silversurfers Website Editor and Social Media Manager. Always on the lookout for all things that will interest and entertain our community. Fueling fun for the young at heart!

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