The State Pension changed on 6 April 2016 for people who reach
State Pension age on or after that date. This is men born on or
after 6 April 1951 and women born on or after 6 April 1953. The old
rules (which include basic State Pension and Additional State
Pension) were complicated, making it difficult to know how much
you'd get until you were close to State Pension age. Not
everyone will get the full new State Pension though, as it will
depend on your National Insurance record.
Assuming you had made full National Insurance contributions the
State Pension for a single person is currently around £622 a month.
To put this in perspective, if you earn £22,000 now, your monthly
income before tax and National Insurance deductions is £1,833, so
your Basic State Pension will only make up around 34% of your
current income. You may also be entitled to additional benefits
through the State Second Pension.
If you have questions relating to State pensions visit the Direct.gov website.
You can find out your State Pension Age using the State Pension Age calculator.
The Scheme is contracted
out of the State Second Pension.