State pension warning as Britons will get nothing if they make a simple error | Personal Finance | Finance

Many will look forward to the day they turn 66, and can become eligible for their state pension under current state pension age rules. In fact, some Britons even time their retirement around reaching state pension age, leaving their jobs and salaries or pay behind at the same time.

For this reason, the state pension is viewed as a vital safety net for retired people, providing them with income for later life.

While many desperately need the funds the state pension provides, they could miss out when they turn 66.

At present, the full new state pension is £185.15 per week, typically for those who have usually made 35 qualifying years of National Insurance contributions or more.

Some may get less than this if they were contracted out before April 6, 2016.

READ MORE: Pensioners could get ‘lifeline’ payment worth up to £370 per month

In some occasions, a person may not receive an invitation letter.

However, if they are within three months of reaching their state pension age, they can still make a claim.

The “quickest way” to do so is online, however, others may wish to call the Pension Service to get a claim form posted out to them.

Fortunately, if someone does not claim their state pension, it might not create a detrimental affect.

In fact, leaving a state pension unclaimed automatically triggers a process known as deferral.

Deferring is simply a delay in receiving the sum, and individuals do not have to do anything to start this process.

Putting off a claim could increase the payments a person gets when they do eventually decide to claim the sum.

For the new state pension, the sum will increase every week a person defers, as long as this is done for nine weeks.

The same is true for the basic state pension, as long as the deferral process is for at least five weeks.

The extra amount people get is typically paid with their regular state pension payments once they claim.

This may not be suitable for everyone, and for some it will be vital to submit a state pension claim as soon as possible. 

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