The Pension Service...

Dick_here

I've been through the whole drawn-out registration process etc, and unless you're close to retirement it hardly seems worth the effort I'd say.

It told me virtually nothing that I didn't already know. I've been working for 28 years etc, and need to work for 2 more to qualify for the full basic State Pension at 66 which at current prices would be worth £100 and a bit. With current Pension Credit arrangements I'd be guaranteed £124 a week were I retiring now (if I didn't have any other pension arrangements).

So what is the point of the 'personalised forecast' ? Not much, as far as I can see.

EdInvestor

Have they not told you the position re the second state pension S2P/SERPS? If not suggest you ring them up and ask.

seven-day-weekend

!!!!!!_here wrote: »

I've been through the whole drawn-out registration process etc, and unless you're close to retirement it hardly seems worth the effort I'd say.

It told me virtually nothing that I didn't already know. I've been working for 28 years etc, and need to work for 2 more to qualify for the full basic State Pension at 66 which at current prices would be worth £100 and a bit. With current Pension Credit arrangements I'd be guaranteed £124 a week were I retiring now (if I didn't have any other pension arrangements).

So what is the point of the 'personalised forecast' ? Not much, as far as I can see.

Because some people have no idea what State Pension they are going to get. People like me (working full-time/part-time/not at all/University/two jobs - all at different points in my life).

When I sent for my Pension Forecast I was pleasantly surprised to find that with a few years' Voluntary Contributions I would qualify for the full State Pension. I didn't at that point know I would get credited for my years as a full-time-mum and assumed I would be way down on my Pension.

I can draw my full State Pension in January 2010 when I am 60 and am looking forward to it.

So my pension forecast was very helpful to me.

Dick_here

EdInvestor wrote: »

Have they not told you the position re the second state pension S2P/SERPS? If not suggest you ring them up and ask.

Yes they did thanks, Ed. However in my case it amounts to very little due to my employment pension being contracted out.

EdInvestor

!!!!!!_here wrote: »

Yes they did thanks, Ed. However in my case it amounts to very little due to my employment pension being contracted out.

Ah so. The forecast will be more useful to people who have been contracted in and have had a more complicated employment record, including years off looking after children, part time work, periods of self employment/contracting ,etc.