State pension calculator: How much will I get at 66?

But savers are facing a four-year wait for much anticipated new technology that will let them view all their pension pots in one place online.

How is the state pension calculated?

Your national insurance record is just one factor in how much state pension you will receive.

It is also based on a government calculation called the triple lock that determines how much the state pension rises by each year.

Under the triple lock system, pension payments increase at the start of the tax year in April by the higher of average wages, the consumer prices index or 2.5% in the previous September.

You may also be able to top-up your payments using pension credit.

This gives extra money to pensioners on low incomes or if you are a carer, severely disabled or responsible for a child or young person.

The threshold for pension credit currently stands at £182.60 a week.

So if your income is lower than this, you'll be eligible.

For couples, it's £278.70 a week.

How else can I save for retirement?

The state pension doesn't have to be your only form of income in retirement and most probably won't stretch to maintain your standard of living.

Research by consumer watchdog Which? claims Brits will need a pension pot of £123,000 just for basics when they retire - and as much as £305,000 to be able to take holidays.

There are some ways you can save for your retirement beyond relying on the state pension.

Start your own pension

The state pension is just one type of retirement income.

A private pension is invested in the stock market to build a retirement pot for when you are older.

Everyone over the age of 22 should be enrolled on to a workplace pension scheme or you could set up your if you are self-employed.

Employers must contribute a minimum of 3% into a pension scheme and employers have to put in 5% of their salary.

You can contribute more to boost your pension pot and the earlier you start, the more you can benefit from stock market growth and smooth out any losses.

Make use of your savings

You can boost your pension pot with other forms of savings.

There is a £20,000 allowance that you can save tax-free either in Cash or Stocks and Shares Isa each year.

Brits between the age of 18 and 39 can also open a Lifetime Isa and save up to £4,000 a year tax-free.

The money can be used to purchase your first home or you can access it after age 60 for your retirement.

The government will add a 25% bonus to your savings up to a maximum of £1,000 each year.

The bonus is only paid until you are 50 so the maximum you can get is £32,000.