Will you get £13,000 a year when you stop working? Here's how to check
It may well be decades away, but do you know how much money you will get when you stop working? The current state pension is soon likely to top £13,000 a year. Yet one in eight people surveyed by …
It may well be decades away, but do you know how much money you will get when you stop working?
The current state pension is soon likely to top £13,000 a year.
Yet one in eight people surveyed by the UK tax authority have never checked how much money they are forecast to receive.
If you're working, it is highly likely you're contributing to the state pension - paid by the government when you hit pension age in your late 60s.
the flat-rate state pension - for those who reached state pension age after April 2016 - is £241.30 a week (£12,547.60 a year)
the old basic state pension - for those who reached state pension age before April 2016 - is £184.90 a week (£9,614.80 a year)
Many people on the old basic state pension may receive a top-up called the additional state pension.
Most pensioners have other income, primarily from pension savings built up over their career.
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