Final Salary Pension - National Insurance Contributions

gordonc1960

Thanks everyone - first time poster, all your expert help is very much appreciated.:T

Parisien

My wife retired at 50 in summer, she paid NIs for 30 yrs plus, will she recieve her state pension at age 60 in ten years time without making any further contributions?

Thanks

Thomas_Crown

Valli wrote: »

I thought not...
But what about entitlement to state pension - mind you with a police pension doubt he'll need it.

The OP will be entitled to a reduced state pension as he is ''contracted out'' of SERPS. His Police pension will be reduced slightly when he starts to receive his state pension.

seven-day-weekend

Parisien wrote: »

My wife retired at 50 in summer, she paid NIs for 30 yrs plus, will she recieve her state pension at age 60 in ten years time without making any further contributions?

Thanks

She will receive a full State Pension if she has paid for 30 years, but she will not be able to take it at 60. Women's retirement age is increasing, see here for details:

http://www.thepensionservice.gov.uk/state-pension/home.asp

Happychappy

Op will not pay NI and will recieve a state pension of £90 per week at age 65. You also will retire at the right time now that the pension discrimination between men and women has finally been overturned, should make you around 125k to commute. But having said that, you have paid in 11% of your salary for the past 30 years, so good luck and put your feet up.

Sobraon

Thomas Crown said

The OP will be entitled to a reduced state pension as he is ''contracted out'' of SERPS. His Police pension will be reduced slightly when he starts to receive his state pension.

Can someone explain why this is please?

Sobraon

Ian_W

Sobraon wrote: »

Can someone explain why this is please?

I think so .....
Basic state pension of £90odd per week won't be affected provided there are 30yrs NI contributions but the state 2nd pension [formerly SERPS] will be as the police scheme is contracted out. However the OP [or you] may have made SERPS contributions in a previous employment which will show up on the pension service's forecast.
For some historic reason which I don't know the police pension is reduced by £1.70 per year for each years service before 1/4/1980 when in receipt of basic state pension.
THIS GUIDE at section 12 explains the what but not the why.
HTH.

My guess would be that this [and perhaps other public sector pensions] paid slightly lower NI prior to 1980.