Why you should check your state pension statement

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Thousands of people are underpaying their state pensions, including everyone in the local government pension, who are contracted out of the state pension.

For the last few years you have been able to make up any shortfall by paying Class 3 National Insurance contributions (voluntary).

First you should get a pension statement, which should advise you of your pension at state retirement age.

You can then make up missing payments, in the years 15/16 £14.10 per week; 16/17 £14.10 per week; 17/18 £14.25 per week; 18/19 £14.65 per week.

If you pay before April 5, 2019, the payments are as I have stated, but if you leave it until after April 5 all years are going to be payable at £15 per week.

As a rough guide you have to live about three years into your state retirement to get your money back and then you are into profit and it is increased by the UK government each year.

If you save it in an account that pays 1.5 interest, you make on £761, £11.61 per annum.

This letter is dedicated to me starting work at the age of 15 years, today I am 65 and have had six months of my state pension stolen by this Conservative Government.

Name withheld