Full New State Pension in retirement means you need to work this number of years

People aged over-50 are facing a lifetime of financial insecurity after a recent report highlighted which age group is being hit the hardest by the cost of living crisis. Research from Edinburgh University’s Smart Data Foundry found economic inactivity rates have risen by a third for the over-50s age group since 2019.

Commenting on the research at the time, Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: “These findings point to a worrying lack of planning among those closest to retirement on how they plan to spend their remaining working years. Top Money Stories Today While this is encouraging for those with a workplace or private pension, for many who opted out, or didn’t meet the £10,000 minimum requirement for auto-enrolment, a State Pension may be their best option for a retirement income, but eligibility is not automatic.

But, how many years of NI contributions do you need to make in order to qualify for the full, ‘new’ State Pension?

Source: Insurance Report (insurancereport.net)

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