State Pension & Retirement

The full new State Pension is £241.30/week (£12,547.60/yr) for 2026/27. You need 35 qualifying years of National Insurance for the full amount, and at least 10 to get anything. State Pension age is 66, rising to 67 between May 2026 and 2028.

Years caring for children (via Child Benefit), illness or time abroad can leave gaps. You can sometimes pay voluntary Class 3 contributions (£18.40/week) to fill them — often excellent value, but check it'll actually increase your pension first.

If you're 22+ and earn over £10,000, you're auto-enrolled. The minimum is 8% of qualifying earnings, with your employer paying at least 3%. Many employers will match extra contributions you make.

Pension contributions get tax relief at your marginal rate (a basic-rate taxpayer's £80 becomes £100 in the pot). Salary sacrifice, if offered, also saves your 8% employee NI.

A Self-Invested Personal Pension lets you choose your own investments and consolidate old pots — more flexibility, more responsibility. The annual allowance for tax-relieved contributions is £60,000 (or 100% of earnings if lower). Education only — for your retirement plan, see a regulated adviser.