Your Personalised State Pension at 70
Your State Pension at age 70 is not a single, universal figure. It's a personalised amount determined by a few key factors, primarily your National Insurance (NI) record and the number of years you chose to defer claiming your pension after reaching your State Pension age (SPA). For those reaching SPA from April 6, 2016, you will be under the new State Pension system.
The full new State Pension rate for the 2025-26 financial year is £230.25 per week. However, this is the maximum, and the amount you receive depends on your NI record. Crucially, deferring your State Pension past your SPA can increase your weekly payments for life.
The Power of Deferral
Under the UK system, you can choose to delay, or defer, claiming your State Pension after you reach your State Pension age. For those reaching SPA under the new system (i.e., those born on or after April 6, 1951 for men or April 6, 1953 for women), the amount of extra pension you can receive is calculated at just under 5.8% for each year you defer. This equates to 1% for every nine weeks deferred.
How Deferral Works in Practice
If your SPA is 67, and you choose to defer claiming until you are 70, you will have deferred for three years. This would result in a substantial increase to your weekly pension for the rest of your life. The extra pension is paid with your regular State Pension payment. It's important to remember that this is different from the US system, where benefits stop increasing at age 70. In the UK, the increases from deferring are automatically added to your State Pension amount.
Factors That Influence Your Deferral Increase
- Your Birth Year: Determines your official State Pension Age. For those born on or after April 6, 1960, the SPA is 67, and it is rising to 68 for those born on or after April 5, 1977.
- The Length of Deferral: The longer you defer (up until age 70), the more your weekly pension will increase. For those under the new State Pension, the deferral increases are a fixed rate.
Understanding Your National Insurance Record
Your NI record is the foundation of your State Pension entitlement. The number of qualifying years determines if you are eligible for any State Pension and what proportion of the full new State Pension you will receive.
- Minimum Years: You typically need at least 10 qualifying years on your NI record to receive any State Pension.
- Full Pension: To get the full new State Pension, you will usually need 35 qualifying years.
- Gaps in Your Record: Gaps can occur for various reasons, such as periods of unemployment without claiming benefits, living abroad, or low earnings. You can make voluntary NI contributions to fill gaps and increase your pension entitlement.
Accessing Your NI Record
It's crucial to check your NI record to see your current entitlement and identify any gaps. The official "Check your State Pension forecast" service on the GOV.UK website is the best place to do this.
How to Get Your Personalised Forecast
The only way to accurately find out what you will get at 70 is to use the official Check your State Pension forecast service on the GOV.UK website. This service will show you:
- An estimate of what your State Pension could be when you reach State Pension age.
- Your current National Insurance record.
- How you can increase your State Pension, such as by making voluntary NI contributions.
Why a Forecast is Critical
Your forecast is a powerful planning tool. It helps you understand how deferring your claim will impact your income, how much your pension is currently worth, and whether topping up your NI record is a viable option.
Old vs. New State Pension: A Comparison
For those reaching pension age after April 6, 2016, you are on the new State Pension. Your personal situation may be more complex if you have been contracted out of the State Second Pension (S2P) or were under the old system. Here is a simplified comparison:
| Feature | Old State Pension (Before Apr 2016) | New State Pension (After Apr 2016) |
|---|---|---|
| Full Rate | Basic + Additional Pension (e.g., SERPS) | £230.25 per week (2025/26) |
| Qualifying Years | Usually 30 years for full Basic Pension | Usually 35 years for full New Pension |
| Contracting Out | Affected Additional State Pension | Effectively ended for New State Pension claimants |
| Deferral | Different rules and rates applied | Approximately 5.8% increase per year of deferral |
Conclusion: Taking Control of Your Retirement Income
Finding out how much State Pension will I get at 70? is a critical step in retirement planning. The answer is not straightforward but depends heavily on your individual National Insurance record and your decision to defer claiming. By using the official GOV.UK forecast tool, you can get a clear picture of your entitlement and understand how waiting until age 70 could significantly boost your weekly income for life. Planning ahead allows you to take control of your financial future and make the most of your State Pension benefits.
For more information and to check your personal forecast, visit the official UK government website at GOV.UK - Check your State Pension forecast.
