How many years you will have to work for to qualify for full State Pension

From next April, pensioners across the nation could be in line for an income boost of over £560 annually. This potential increase is linked to new economic figures and the government's current commitment to the State Pension triple lock.

Under this system, the State Pension increases each April by either the previous September's inflation, wage growth, or 2.5% - whichever figure is highest.

The latest data from the Office for National Statistics (ONS) shows that wage growth has fallen to 4.7%. It is not expected that September's inflation figures will surpass this, as August's inflation only reached 3.8%.

How much will the State Pension likely increase by?

At present, the full New State Pension stands at £230.25 a week or £11,973 a year. If it rises by the 4.7% wage growth figure, this would result in an additional £561 per year.

This would bring the total full New State Pension to £12,534 annually for all those eligible to receive it. It is important to note that the triple lock only applies to the full New State Pension, rather than the old Basic State Pension which only sees a partial increase with inflation each April.

Who will receive the full State Pension increase?

To receive the full New State Pension payment of £230.25 per week, individuals will need roughly 35 years' worth of NI contributions. This figure is an average as some people may have been 'contracted out' and will require more NI contributions to qualify for the full amount.

Workplace and private pensions will bolster the State Pension in retirement, but for many, this contributory benefit may serve as their primary income during retirement, making it crucial to understand the number of years of National Insurance contributions needed to receive the maximum payout.

To be eligible for any form of New State Pension, you will need a minimum of 10 qualifying years on your National Insurance record, but these don't have to be consecutive.

This implies that for at least a decade, one or more of the following applied to you:.

• you were paying voluntary National Insurance contributions
• you were working and paid National Insurance contributions
• you were getting National Insurance credits for example if you were unemployed, ill, a parent or a carer

If you are due for retirement, but aren't sure whether you will be able to get the full New State Pension, you can check your National Insurance record here.