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What does the new State Pension mean for your retirement?

The new State Pension came in on 6 April 2016. Here's what it might mean for you.

Did you know?

  • The full State Pension is £221.20 per week for tax year 2024/2025.
  • You’ll need at least 10 years of National Insurance (NI) to qualify for the State Pension and 35 years to get the full amount – an increase of five years from before.
  • You can get your State Pension when you reach State Pension age. The age for women is gradually increasing to 65 by 2018 to be the same as it is for men. It will then increase for both men and women to 66, 67 and 68 in future years and will continue to be reviewed.
  • You can apply online for a State Pension statement to see how much you’ve built up so far (including any NI gaps), and how much State Pension you’re on track to receive. Go to

Lost track of an old pension?

If you’ve lost track of an old pension, maybe from your old job or a personal pension, you can use the Government’s Pension Tracing Service to find out where it is. Just go to

Pension Credit

£1.8 billion in Pension Credit is going unclaimed by UK pensioners. Pension Credit isn’t paid out automatically, so make sure you check if you’re eligible and claim what you’re entitled to. You can do this on somebody else’s behalf too, to make sure they’re not missing out.
The Department for Work and Pensions (DWP) recently estimated that £1.8 billion in Pension Credit went unclaimed during the 2018/19 financial year, with almost a million households missing out on money that they’re entitled to. This could mean up to £9,000 a year for single pensioners PLUS up to £12,000 more for heating, housing, medical care, and council tax too.

What is Pension Credit?

Pension Credit gives you extra money to help with your living costs if you’re over State Pension age and on a low income. It can also help with housing costs, like rent or service charges.

Pension Credit is separate from your State Pension and you can get it even if you have other income, savings or if own your own home. You can also backdate it for three months, so the quicker you check and claim, the quicker you'll benefit.

Even if you find out you're only entitled to a small amount of Pension Credit, it can still be well worth claiming, because if you’re eligible for Pension Credit, you can also get help with other things. For example:

  • Housing Benefit (if you rent the property you live in)
  • Support for Mortgage Interest (if you own the property you live in)
  • Council Tax Reduction
  • A free TV licence (if you’re aged 75 or over)
  • Help towards NHS dental treatment, glasses and/or transport costs for hospital appointments
  • Help with heating costs

For more information on Pension Credit and how to claim, either for yourself or for someone you know, go to
If you can’t apply yourself, a friend or family member can apply on your behalf. Age UK and Citizens Advice can also help you with your application.

Need some help?

  • Call the Pensions Advisory Service’s dedicated helpline for Tesco colleagues on 020 7630 2716 for questions on State Pension, tax and retirement planning in general. Or go to
  • Call the Tesco Pension Helpline on 0345 070 0090 for questions about the Tesco Retirement Savings Plan and the closed Tesco pension scheme. Or have a look around this site for lots more info.

Watch our Q&A mini video clips for more information.

Part 1: How is the State Pension changing?

Part 2: How much State Pension might I get?

Part 3: When do I get my State Pension and what should I do to get it?