Millions could miss out on full pension

The new flat-rate state pension that comes into effect in 2016 is meant to offer people a guaranteed level of income. But the Institute for Fiscal Studies, a prominent financial think-tank, has issued a report saying that up to 70% of people retiring between 2016 and 2020 won’t actually get the full pension.

This is because while the old scheme required 30 years of National Insurance contributions, the new pension requires 35 years.

You can check your accrued entitlement under the old system by requesting a State Pension Statement at But we suggest you discuss with us the possibility of paying additional Class 3a NI contributions to top up your State pension, as well as your options for any private pensions you have.