Although reaching retirement age may be decades away for many, understanding the future value of the UK state pension is becoming increasingly important. The flat-rate state pension is projected to surpass £13,000 per year by next April, driven by annual upratings linked to inflation, wage growth, or a 2.5% floor.
Despite these significant figures, a recent survey of 5,000 consumers by HM Revenue and Customs (HMRC) revealed that one in eight individuals has never checked their pension forecast. The most common reason cited was the perception that retirement is too distant to warrant attention, followed by confusion over lost pension pots from previous employment and concerns about career breaks.
Currently, the new flat-rate pension stands at £241.30 a week (£12,547.60 annually) for those who reached pension age after April 2016. Those who retired before that date receive the old basic pension of £184.90 a week (£9,614.80), with many eligible for additional top-ups. To qualify for the full amount, individuals generally require 35 years of National Insurance contributions. Gaps in this record can occur due to living abroad or taking time off for caring responsibilities, though credits are available for those receiving child benefit or carer’s allowance.
Experts emphasize the importance of checking forecasts early, particularly because rules changed in April 2025. Voluntary payments to fill gaps in National Insurance records can now only be made for the previous six years, rather than the longer periods previously allowed. Consequently, people aged 45 to 54 have been identified as the demographic least likely to have reviewed their status.
To access a state pension forecast, individuals can use the official HMRC app or visit the government’s online state pension forecast webpage. Both methods require identity verification using official photo ID. Officials warn against clicking on unsolicited links in emails or texts claiming to offer pension information, as these are often scams. For additional support, HMRC has launched the Tax Confident website, and the independent Money Helper service offers a free retirement guidance tool to help navigate pension options.
Myrtle Lloyd, HMRC’s chief customer officer, urged the public to act regardless of how far their retirement date lies in the future. “Whether retirement is decades away or just around the corner, I’d encourage everyone to check their forecast and see if there’s anything they can do now to boost their entitlement later,” she said.
Does the six-year limit for voluntary payments apply if I moved abroad briefly in my thirties? The rules seem so complex now.
One in eight people haven’t checked? Shocking. Most workers really are ignoring their retirement planning entirely.
I had no idea the rules changed in 2025. Definitely checking my account tonight before it’s too late!