New Age Pension Scheme Pays £2,222 More Per Year—But Is It Real? The state pension is a payment made every four weeks by the government to people who have reached the qualifying age and have paid enough National Insurance (NI) contributions. In April 2025, the earnings link meant the state pension increased by 4.1%, making it worth.
New Age Pension Scheme Pays £2,222 More Per Year
The New State Pension was introduced by the coalition government by the Pensioners ACR 2014. It applies to people who reached State Pension Age on or after 6 April 2016.
- £230.25 a week for the full, new flat-rate-state pension for those who reached state pension age after April 2016—a rise of £472 a year
- £176.45 a week for the full, old basic state pension (for those who reached state pension age before April 2016) – a rise of £363 a year
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State pension Age
From the 1940s until April 2010, the state pension age was 60 for the women and 65 for the men. The Pensioners Act 1995 included a provision to increase the SPA for women from 60 to 65 in stages between April 2010 and 2020 to bring it into line with that for men. As a result of additional legislation passed between 2007 and 2014, the SPA is due to rise for both men and women to 67 between 2026 and 2028 and 68 between 2044 and 2046.
Occupational And personal pensions
Types of the scheme
In addition to the state pension, people might have one or more private pensions. These might be occupational pensions set up through a workplace, or people might set them up themselves. There are two main types of private pension schemes in the UK.
- Defined benefit (DB) schemes pay a promised pension based on factors such as salary and length of service. A sponsor, usually an employer, guarantees the payment of the promised benefits. The pension provides an income for life and may include a lump sum.
- Defined contribution (DC) schemes provide a pot of money for retirement instead of a guaranteed pension. The value of the pension pot can increase returns and contributions made in the UK.
What is the state pension age, and how is it changing?
More than 12 million people currently receive the state pension.
Men and women born between 6 October 1954 and 5 April 1960 start receiving their pension at the age of 66. But fr people born after this date, the state pension age is increasing
- A gradual rise to 67 for those who were born on or after 5 April 1960
- A gradual rise to 68 between 2044 and 2046 fro those who were born on or after 5 April 1977
The International Longevity Centre, a think tank, argues that the UK will have to increase the state pension age to 71 by 2050 to keep the cost sustainable.
What you will get
Your state pension amount is dependent on your National Insurance record.
Check your State Pension Forecast to find out how much you could get when you reach State Pension Forecast to find out how much you could get when you reach State Pension Age. It also shows your National Insurance record.
- If you were contracted out before 2016
- The number of National Insurance qualifying years you have
- If you paid into the Additional State Pension Before 2016
If you are getting less than £230.25 a week
You may have been contracted out. While you were contracted out, you or your employer paid more into your workplace or private pension and less into your state pension.
If you were contracted out , you will usually need more than 35 qualifying years to get the full rate of the new state pension.
If your National Insurance record started After April 2016
If your National Insurance record started after April 2016, you will need 35 qualifying years to get the full rate of the new State Pension.
But Is It Real?
Yes, the “New State Pension” in the UK is real, but the amount, £2,222, is not confirmed yet. The new state pension is coming in place of the old pension. The new state pension is a regular payment from the government that most of the people can claim later. For more information, visit the official website .
Conclusion
In this article we discussed the New Age Pension Scheme, which pays £2,222 more per year. If you were contracted out , you will usually need more than 35 qualifying years to get the full rate of the new state pension. Yes, the “New State Pension” in the UK is real, but the amount, £2,222, is not confirmed yet.