Pension Question - I'm confused!

hayley11

Ooh I just found my original thread about this, I forgot i'd posted asking for advice when he first wrote to me...does this help any?

http://forums.moneysavingexpert.com/showthread.html?t=1161755

Debt_Free_Chick

OK - the certified amount is your share of putting you back into the State Second Pension. Effectively, you've already had this money through lower NIC when you worked there - but you wouldn't have noticed!

You need to come to an arrangement with them to repay it. Explain your circumstances and offer what you can afford.

hayley11

Yeah you're right debt free chick, it was because I was paying lower NIC, so he said that if I paid back the whole £62.66 then they would give me a deferred pension of £133 per annum. Which isn't much granted but every litle helps! And I would have had to pay back £57 anyway so an extra fiver gets me something so i'm happy.

I'm just going to pay it all in one go next month, don't have to pay council tax so can use that money.

What is the percentage it would go up by every year or does it vary? Could it go down as well as up? Who would believe I used to know all about pensions and insurance and all that malarky and now it makes no sense at all!!