State Pension is a regular payment from the Government that most people can claim when they reach State Pension age. Your State Pension age depends on when you were born. The amount you will get depends on how many years of National Insurance payments you have made throughout your lifetime.
This includes National Insurance contributions you pay when you are working and contributions that are credited to you when you are unable to work, such as when you are raising a child or caring for another family member.
The full new State Pension, as of April 2016 onwards, is £175.20 per week for normal earners.
The Department of Work and Pensions only takes into account your NI contributions, and does not make an assessment of how much you need from other income sources unless you have low income.
If you reached the pension age before or after the new pension came in 2016, and have a low income, you get the same amount.
If the last two digits are between 60 and 79, the payment date is Thursday.
The fifth band are digits ranging from 80 to 99, and anyone with these as the final two digits on their National Insurance number will get paid on a Friday.
Those who claim their new State Pension should get their first payment within five weeks of reaching state pension age.
Your pension will be paid every four weeks into an account of your choice.
State Pension is also paid in arrears – so you get money for the last four weeks, not the upcoming four weeks.