Maximise Your State Pension Retirement Income

Investors should consider all sources of income in retirement. Make the most of your State Pension by deferring it to boost the value of your payments

Emma Wall 27 May, 2015 | 10:10AM

 

 
 
 

Emma Wall: We know that the majority of readers of Morningstar.co.uk are investing for retirement. This is fantastic. Preparation is key when it comes to long-term investing. But it's important that you consider all elements of retirement income and the State Pension is one of these. A lot of people assume that they will automatically get the State Pension. But like any other pension pot, you need to contribute to be able to withdraw.

With the State Pension, you need to make 30 years of National Insurance contributions. This means that if you have taken a break from work, for example, to raise children, you may not be automatically qualified for the State Pension. However, you can make up these years and go back and contribute those National Insurance payments in order to make sure that you get the State Pension.

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Emma Wall  is former Senior International Editor for Morningstar

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