State retirement pension

Clients who reach pension age on or after 6 April 2016 can get the new state pension. Clients who reached pension age before 6 April 2016 may be entitled to an ‘old’ retirement pension, known as category A, category B and category D retirement pensions.

The amount of state pension a client receives depends on their NI contribution record. State pension is paid at a basic weekly rate, which can be increased if a client has chosen to defer the pension.

A client must claim state pension on the approved form, by telephone or online. State pension can be backdated for a maximum of 12 months from the date they would have been first entitled. Any claim made after this date can be treated as an application to have the pension deferred. Clients should consider the financial implications before choosing to either have their pension backdated for 12 months or have it deferred.

State pension is not means tested, but is taken into account as income for other benefits and tax credits. It is taxable.