UK State Pension Explained

The full new State Pension pays £230.25 a week (£11,973 a year) in 2026/27. You need 35 qualifying years of National Insurance for the full amount — or at least 10 years to receive anything at all. State Pension age is currently 66, rising to 67 between 2026 and 2028.

Updated 19 March 2026 · 2026/27 figures

The State Pension is the foundation of most people’s retirement income. But how much will you actually get, when can you claim it, and is it enough? Here’s everything you need to know for 2026.

How much is the State Pension?

There are two systems, depending on when you reached (or will reach) State Pension age:

These are the maximum amounts. What you actually receive depends on your National Insurance record.

Qualifying years

A “qualifying year” is a tax year in which you paid enough National Insurance contributions (or received NI credits). You build up qualifying years through:

• Working and paying NI — employed or self-employed
• NI credits — automatically given when you’re claiming certain benefits, are on parental leave, or are a carer
• Voluntary contributions — you can pay Class 3 voluntary NI to fill gaps in your record

How qualifying years affect your pension

State Pension age

Your State Pension age (SPA) determines when you can start claiming. Here’s the current timetable:

The increase to 68 is currently under review. The government is expected to confirm the timeline, but it won’t happen before 2044 at the earliest.

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Can you claim early?

No. Unlike workplace pensions, you cannot access the State Pension before your State Pension age. There is no early claiming option.

Can you defer?

Yes. If you defer your State Pension, it increases by roughly 1% for every 9 weeks you delay (approximately 5.8% per year). This can be worth considering if you’re still working or have other income sources.

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The triple lock

The State Pension is currently protected by the triple lock, which means it increases each April by the highest of:

• Inflation (measured by CPI in September)
• Average earnings growth
• 2.5%

The triple lock has been a political commitment rather than a legal guarantee. Every government since 2010 has maintained it, but it’s reviewed each year and could change in the future.

Is the State Pension taxable?

Yes. The State Pension is taxable income. However, it’s paid gross (without tax deducted at source). If your total annual income exceeds the personal allowance (£12,570 in 2026/27), HMRC will collect the tax through:

• Your PAYE tax code (if you have other employment or pension income)
• Self Assessment (if you complete a tax return)
• A Simple Assessment letter from HMRC

Filling gaps in your NI record

If you have fewer than 35 qualifying years, you may be able to pay voluntary National Insurance contributions (Class 3) to fill gaps. The current rate is £17.45 per week (£907/year).

Each additional qualifying year increases your State Pension by approximately £342/year for life. That means a single year of voluntary contributions (£907) could pay for itself in less than 3 years of retirement. It’s often one of the best financial returns available.

You can currently fill gaps going back to April 2006, but this deadline may change — check the gov.uk website for the latest rules.

State Pension and your wider plan

The State Pension is a solid foundation, but it’s rarely enough on its own. At £11,973/year, it falls below even the PLSA’s “minimum” retirement living standard (£14,400/year for a single person).

To build a complete retirement plan, you need to combine it with workplace pensions, private savings, ISAs, and other income sources — and understand how tax affects the total.

The new State Pension vs the old system

If you reached State Pension age before 6 April 2016, you are on the old (basic) State Pension, not the new State Pension. The two systems are different in important ways.

The old basic State Pension pays a maximum of £169.50 per week in 2026/27 — significantly less than the new State Pension. However, many people on the old system also receive an additional State Pension on top: SERPS (State Earnings-Related Pension Scheme) or its successor S2P (State Second Pension), which were workplace-earnings-linked top-ups built up before 2016. Some people contracted out of these schemes through their employer, in exchange for lower National Insurance contributions and a bigger occupational pension — and their additional pension was reduced accordingly.

If you reached State Pension age on or after 6 April 2016, you are on the new State Pension. Your entitlement is calculated using a “starting amount” that took account of your National Insurance record and any contracting-out history up to April 2016 — which is why some people’s State Pension forecast is lower than the full £230.25/week even with 35+ qualifying years.

The State Pension if you’re self-employed

Self-employed people pay Class 4 National Insurance, but Class 4 does not count towards the State Pension. What counts is Class 2 NI, which self-employed people pay at a flat rate (£3.45/week in 2026/27) if their profits exceed the Small Profits Threshold.

Since April 2024, Class 2 NI was effectively abolished for most self-employed people earning above the Lower Profits Limit — but they are still automatically credited with the qualifying year as if they had paid. If your profits fall below the Small Profits Threshold, you do not get an automatic credit, but you can choose to pay Class 2 voluntarily to protect your State Pension record. This is far cheaper than Class 3 voluntary contributions (£3.45/week vs £17.45/week), making it a strong option if you have a low-profit year.

Key takeaways

• The full new State Pension is £230.25/week (£11,973/year) in 2026/27
• You need 35 qualifying years for the full amount, 10 years minimum for any payment
• State Pension age is rising from 66 to 67 (2026-2028)
• The State Pension is taxable — and almost any additional income triggers a tax bill
• Filling NI gaps with voluntary contributions is often an excellent return on investment
• The State Pension alone is not enough — you need a wider plan