New State Pension Guide

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  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
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    kronas wrote: »
    Hi all is there a capital savings limit if you are on a state pension ?

    No there isn't. Any savings you have if you are enitled to a state pension you ca claim it.

    If HM The Queen has paid her NI, I'm sure she had she receives her state pension every four weeks!

    Cheers fj
  • greenglide
    greenglide Posts: 3,301 Forumite
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    If HM The Queen has paid her NI, I'm sure she had she receives her state pension every four weeks!
    She might get it weekly having been paid by Order Book all those years ago! People who didn't give DWP bank details when OB payments were ended were put onto weekly payments by POCA.

    I assume that most of the HRHs who have not been employed didn't pay NI but you can never be sure?
  • GibbsRule_No3
    GibbsRule_No3 Posts: 610 Forumite
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    https://www.gov.uk/check-state-pension

    Checking your SP forecast seems to be much easier now. I tried a few months ago to sign up but fell at the second hurdle when they needed both a Passport and Driving Licence. Tried today and they only need one of three options. Passport, DL or Payslip and of course your NI number. Only thing that did confuse me was it gave the amount from April 2019 and I won't be 65 3/4 until March 2020 which is when I think I will get the SP from, so has it just done it from the nearest tax year start it can work it out to? It also tells me I will have 49 full years and COPE was £69.81
    Paddle No 21 :wave:
  • molerat
    molerat Posts: 31,864 Forumite
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    edited 18 October 2016 at 4:33PM
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    [STRIKE]That still excludes a lot of people - many of who were verified enough to have the old gateway access accounts.[/STRIKE]

    Edit that. Just tried to get access for MrsM using her old gateway access, been refused before, and it used standard credit reference agency questions - bank accounts, previous address etc :T
  • greenglide
    greenglide Posts: 3,301 Forumite
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    Only thing that did confuse me was it gave the amount from April 2019 and I won't be 65 3/4 until March 2020
    If you reach SPa in March 2020 then only years up to 2018/2019 qualify. 2019/2020 cannot be a qualifying year and the part year is ignored.
  • GibbsRule_No3
    GibbsRule_No3 Posts: 610 Forumite
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    greenglide wrote: »
    If you reach SPa in March 2020 then only years up to 2018/2019 qualify. 2019/2020 cannot be a qualifying year and the part year is ignored.
    Thanks for this, so would it make any difference if I defer for a month until the full year is up?
    Paddle No 21 :wave:
  • molerat
    molerat Posts: 31,864 Forumite
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    No, it is based on your state pension age and not the date you start claiming your state pension.
  • julianhodgearepants
    julianhodgearepants Posts: 13 Forumite
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    julianhodgearepants wrote: »
    I also hit the magic retirement date last week and even though I have 37 qualifying years I have been awarded £121.50 p.w.

    Although I wasn't expecting the much trumpeted £155 having been contracted out for much of my working life I find it hard to believe my reduced NI payments were worth £34.00 p.w. in lost pension.

    To those who say you earned a higher return from your occupational pension because of the reduction in NI's then this is not the case as my pension was already final salaried.

    So maybe your figure isn't too bad after all? Like you I am also annoyed that the letter gives no indication as to how the figure was arrived at.

    I queried the figure with the DWP and they advised me that I had to have a deduction of £105.93 from the headline figure of £155.65 due to the period when I was contracted out.

    My new pension should therefore be £49.72 p.w. but because they allow you the higher of the old and new scheme I get the old figure of £121.50 which includes an element of Graduated Pension.

    I find it astonishing that the benefit of being contracted out was worth in excess of £100 per week.
  • molerat
    molerat Posts: 31,864 Forumite
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    That is the largest COPE I have seen mentioned so far, I thought mine was pretty impressive at £74.82.
  • julianhodgearepants
    julianhodgearepants Posts: 13 Forumite
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    rose28454 wrote: »
    My husband is retiring next week and has just had a letter saying his pension will be £121.00 a week. The letter says this is the safe amount as they dont have access to his NI records at present. He has just stopped receiving Carers allowance for his dad who dies recently and I presume thats the reason for the NI thing. He gets a pension from his work ( he was a postman for 33 years ) so I presume he was contracted out as he was paying into a private pension.
    I wonder if anyone knows if that amount sounds right as it seems a bit low.

    See my experience at post 249. Seems to mirror your husband.
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