From his 66th birthday, Andrew will be entitled to a pension worth at least \u00a3135.28 a week – Chris Jackson\/Getty Images <\/p>\n
Andrew Mountbatten Windsor will be eligible to claim the state pension next year, worth around \u00a39,000 annually.<\/p>\n
Royals are not entitled to the state pension, but because the former Duke of York was employed, serving in the Royal Navy for more than 22 years, he can begin drawing the pension when he turns 66 in February.<\/p>\n
The King is similarly entitled to the state pension because of his own employment service, also in the Navy, but he donates the full amount to Age UK<\/a>.<\/p>\n Tom Selby, director of public policy at the investment platform AJ Bell, said: \u201cLike millions of people, Andrew will be entitled to the state pension based on the number of National Insurance qualifying years he built up while working.<\/p>\n \u201cBased on his employment record, that should mean he is entitled to around \u00a39,000 a year, although it will be up to the former Prince whether he chooses to claim this or not.\u201d<\/p>\n A royal source said: \u201cIt\u2019s up to him.\u201d<\/p>\n However, Andrew\u2019s tastes for the finer things in life may prompt him to take up his state pension when he turns 66 next year.<\/p>\n State pensions<\/a> are paid for life and increased each year. The amount received in state pension payments is complex to calculate and depends on how many \u201cqualifying\u201d years of National Insurance contributions (NICs) have been made.<\/p>\n The full new state pension is \u00a3230.25 a week but requires 35 years of NICs.<\/p>\n Andrew served in the Navy from May 1979 until July 2001 and saw active service during the Falklands War in 1982.<\/p>\n With around 22 years\u2019 worth of contributions, the starting point for Andrew\u2019s state pension calculation would be \u00a3151.31 a week. However, that amount would be reduced under the \u201ccontracting out\u201d rules, as he also paid into a Navy pension. Under these rules, he is likely to be eligible to \u00a3135.28 in state pension payments a week.<\/p>\n However, it is not too late for Andrew to boost his state pension<\/a> should he wish.<\/p>\n If a state pension is reduced, it is possible to pay extra NICs to fill in the missing years up until the tax year before turning 66.<\/p>\n In Andrew\u2019s case there are six years\u2019 worth of additional payments he could make. Doing so would boost his pension by \u00a339.47 a week, taking it to \u00a3174.75 a week or \u00a39,087 a year.<\/p>\n Andrew Mountbatten Windsor served in the Royal Navy for more than 22 years – Tim Graham\/Getty Images <\/p>\n