Get to Know Your Pension
- Emma Carr
- Jul 2, 2019
- 2 min read
AWS talking point
Are you unsure about your Pension? Do you know your State Pension retirement age? Do you know how much State Pension is in 2019/2020?
Here at AWS we have been looking into Yourpension.gov.uk, a website designed by the government to help people understand their pension, no matter what their age.
The state pension value for 2019/2020 is £8750, averaging at £168 per week. This figure may apply to you, or it may differ depending on the National Insurance contributions you have paid over the years.
This website is easy to navigate around, allowing you to:
· Complete a helpful retirement checklist, answering 5 simple questions taking approximately 2 minutes. The results generated are based on your answers, providing you with a plan of what you need to consider now, to plan for your retirement.
· Check your state pension age, advising you to continue to check this throughout your working life as this can differ.
· View individuals pension experiences and share your own
· Use the online Pension Calculator to help calculate how much you will be receiving upon retirement
· Allow you to select your age category and provides advise on what you should be doing to save for your retirement
· Complete a Mid-life MOT- providing you with helpful tips and advice on getting what you want out of your retirement and what you need to do to achieve this. This section also includes advice regarding changing jobs, changes in life circumstances and how you can continue to save for your retirement. The Midlife MOT concentrates on your health and wellbeing and family commitments.
· Watch useful videos by The Pension Regulator explaining how to check your state pension age and the amount you will receive
This website is a useful tool to help individuals understand their pension which people of all ages can relate to providing detailed explanations to answer queries. Yourpension.gov.uk can be referred to throughout all stages of the individuals working life.
On a more personal note, I work within the payroll bureau and process pensions on a daily basis for clients allowing my personal pension affairs to take a back seat. After reviewing this website it has definitely made me more aware of my own pension scheme and that even though it seems a long way off the decisions I make now will affect my future. This website will definitely remain bookmarked on my computer throughout my career progression allowing me to check in and checkout on the direction I am heading in.
If you would like to check out Yourpensions.gov.uk please follow the link below:
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