UK state pension

State pensions had the most positive they’ve had since 2012 this year, with a minimum annual increase of 3% a year for both men and women. But do you really know what you are going to receive and when?

Frequently Asked Questions

Yes you can. Wherever you live in the world, you will be able to receive your state pension. The annual increases will only incur though if you live in the European Economic Area (EEA), Gibraltar, Switzerland or any country which has a social security agreement with the UK.

You may be able to build up a UK state pension if you live in the European Economic Area (EEA), Gibraltar, Switzerland or any country which has a social security agreement with the UK. You would also be entitled to pay into your local state pension in the country where you reside, so paying into a UK state pension may not be your best option.

This depends on how many years national insurance contributions you have made. To be entitled to anything at all you need to have contributed to 10 years’ worth of national insurance (NI) contributions. To receive a full state pension you will need 35 years’ worth. A full state pension is currently worth £8,546.20 per annum.

UK-State-Pension State pensions had the most positive they’ve had since 2012

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State Retirement Age

This will differ depending on the year you were born. From 2019, the State Pension age will increase for both men and women to reach 66 by October 2020. The Government is planning further increases, which will raise the State Pension age from 66 to 67 between 2026 and 2028.

Annual Increases

State pensions increase each year based on the measurement of Consumer Prices Index (CPI) Inflation or 3%, whichever is the highest. This has gone up from 2.5%, a very good increase for pensioners.

Overseas

Pensioners living overseas will only benefit from increases if they live in the European Economic Area (EEA), Gibraltar, Switzerland or any country which has a social security agreement with the UK. Otherwise there will be no increases whatsoever.

Invested a lump sum and transferred my pension with SJB Global last month. Happy so far and looking forward to seeing how the investments perform. I was really impressed with the process and explanation of complex terminology.

Barbera Louis

Having previously gotten cold feet after almost going through with the transferal of my UK private pension to a QROPS with another wealth management company who, for a number of (good) reasons I felt uneasy with, I decided to look independently for an alternative adviser and was fortunate to come across Sam Barber quite by chance. Thanks to his endless patience in answering all of my questions and his excellent support throughout the entire process (which seemed very daunting initially), I am now confident that my future pension is in the best hands. He has put my mind at rest over so many issues and my initial lack of trust in such financial institutions has fully dissipated since becoming his client. I have no hesitation in recommending Sam to anyone who is even just considering transferring a pension out of the UK. He will not talk you into anything that you are unsure about and no question is too stupid. He knows what he’s talking about, gives sound advice and is 100% reliable. There are without doubt many sharks out there – happily Sam is not one of them.

Alia Harrison

I transferred my pension 6 months ago after speaking with a number of advisers in relation to my enquiry. Having initially being overwhelmed with the ordeal, Sam made me feel at ease with the whole process. And on our first semi annual review I am very pleased with the performance and feel like I have made the right decision. I would recommend SJB global to any expat who is looking to transfer their pension.

Jade Bolton

I started the process of finding information out about how to transfer my UK pension overseas and got a bit lost with it all. After sending out a few inquiries, I decided to go with Jake as I found his advice and costs to be completely transparent. The other 2 advisers had recommended me a QROPS and Jake said I was best suited to transfer to a SIPP and sent me links to authoritative websites to back up his reasons. I would recommend Jake to anyone who is looking for transparent advice.

Salvador Iglesias

Invested a lump sum and transferred my pension with SJB Global last month. Happy so far and looking forward to seeing how the investments perform. I was really impressed with the process and explanation of complex terminology.

Barbera Louis

Having previously gotten cold feet after almost going through with the transferal of my UK private pension to a QROPS with another wealth management company who, for a number of (good) reasons I felt uneasy with, I decided to look independently for an alternative adviser and was fortunate to come across Sam Barber quite by chance. Thanks to his endless patience in answering all of my questions and his excellent support throughout the entire process (which seemed very daunting initially), I am now confident that my future pension is in the best hands. He has put my mind at rest over so many issues and my initial lack of trust in such financial institutions has fully dissipated since becoming his client. I have no hesitation in recommending Sam to anyone who is even just considering transferring a pension out of the UK. He will not talk you into anything that you are unsure about and no question is too stupid. He knows what he’s talking about, gives sound advice and is 100% reliable. There are without doubt many sharks out there – happily Sam is not one of them.

Alia Harrison

I transferred my pension 6 months ago after speaking with a number of advisers in relation to my enquiry. Having initially being overwhelmed with the ordeal, Sam made me feel at ease with the whole process. And on our first semi annual review I am very pleased with the performance and feel like I have made the right decision. I would recommend SJB global to any expat who is looking to transfer their pension.

Jade Bolton

I started the process of finding information out about how to transfer my UK pension overseas and got a bit lost with it all. After sending out a few inquiries, I decided to go with Jake as I found his advice and costs to be completely transparent. The other 2 advisers had recommended me a QROPS and Jake said I was best suited to transfer to a SIPP and sent me links to authoritative websites to back up his reasons. I would recommend Jake to anyone who is looking for transparent advice.

Salvador Iglesias

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