State pension payments can be claimed from tha age of 66 and every year they will rise by the highest of 2.5 percent, average earnings or price increases as measured by the CPI. Those who retire abroad can also benefit from these increases but only if they live in certain countries.

Recent research on this showed how many people are affected byt his exclusion, as Canada Life examined data from the DWP on the state pension following the "new" systems fifth anniversary.

Their insight revealed that 27,871 people who have moved abroad have had their new state pension frozen, meaning it doesn’t increase in line with the current triple lock guarantee.

This could be costing overseas retirees a large amount of money in retirement, as between April 2016 to April 2021 the new state pension has increased by 15.4 percent.

Andrew Tully, a technical director at Canada Life, provided the following comments on this: "The state pension is an incredibly valuable part of the retirement eco system in the UK and is playing it’s part in helping boost the retirement income prospects of millions of people.

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"However, the state pension is far from generous, with the onus really on individuals to take personal responsibility to save if they wish to enjoy their retirements.

“The state system is complex and difficult to navigate, but there are two key takeaways.

"Firstly, go online and spend two minutes checking your state pension age, as the goal posts continue to move, especially for younger people.

"Secondly, use the online system to get a forecast of your state pension which will confirm your likely entitlement.

While 35 year of NI contributions are needed for the full amount, a person only needs 10 years to receive anything in retirement.

It should be noted state pensions will need to be claimed when a person reachs their retirement age, they will not be paid out automatically.

State pensions can be claimed online, over the phone or through the post.

Initial payments will arrive within five weeks of reaching state pension age and beyond this, income will be received once every four weeks.