People approaching retirement can check how much State Pension they are likely to receive, according to guidance focused on the possibility of an annual income of £13,000 after they stop working.
The material addresses a key planning question: whether an individual will receive around £13,000 a year in State Pension income. It emphasises that the amount people can expect is something they should check for themselves rather than assume.
The guidance sets out how to find an estimate of likely State Pension payments. It also considers what people may be able to do before retirement after reviewing their expected position.
Checking the forecast can help people understand the level of income they may receive when they stop working. It may also allow them to consider available steps while they still have time to act, although the supplied material does not specify those steps or explain how an individual’s payment would be calculated.
The information does not state that everyone will receive £13,000 a year. Instead, the figure is presented as the basis for checking an individual’s likely entitlement. People will therefore need to obtain their own forecast and consider what action, if any, is available to them now.
The latest guidance is centred on making that check before retirement, so that people have a clearer picture of their expected State Pension income and can plan accordingly.
