THE FULL STATE PENSION will be worth £203.85 a week from April 2023, or £10,600 a year, so on its own it probably won’t be enough to fund the lifestyle you want. Hopefully when you retire you’ll have a mix of additional assets, such as a workplace pension and savings, to make a difference in later life.
But the State Pension is still going to be vital, and it’s dangerous to take it for granted when calculating what you’ll need. That’s because it’s not guaranteed you’ll get it, or that you’ll get the full amount.
Though the rules vary depending on your current age, for
