Why Is My Additional State Pension Quote Lower This Year

Received a SP statement this morning and noticed that the additional pension figure quoted is 5% lower than last year. Graduated has increased as expected by 5.2%. I am an early retiree so no longer making contributions. Is there a logical explanation of this or just another DWP error ?

Comments

  • mark5
    mark5 Posts: 1,361
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    Could it be that the additional pension quoted last year was based on you making the same NI contributions up to the state retirement age?
  • zagfles
    zagfles Posts: 20,264
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    Were you ever in a contracted out pension scheme? These have funny rules about increases to the "GMP" part, ie the part that replaces SERPS/S2P, in deferment. Basically what you lose in SERPS you should gain in the contracted out pension.
  • molerat
    molerat Posts: 31,642
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    Only had about 7 years contracted in.
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