Everyone over 55 entitled to free State Pension statement to help their retirement plans
Expansion of service will ensure people can make the most of new pension freedoms starting in April
Minister: A pension statement is “essential” for anyone considering retirement
A free Government service to help millions of people better understand their State Pension is expanded from today.
Anyone over the age of 55 is now able to request a personalised State Pension statement, giving them an estimate of what they are likely to receive based on their current National Insurance (NI) record. Until this week the scheme was only open to people over the age of 60.
This further roll-out of the service – which has already issued more than 76,000 statements since its launch in September last year – comes ahead of ground-breaking new pension freedoms which come into effect from April.
Extending the service will equip people with vital information as they consider their options under the new rules.