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S2P entitlement
Tancred
Posts: 1,424 Forumite
My current S2P entitlement is £23.53 a week, but it says on the online .gov website that this does not take account of contracted periods prior to 1997. I have three short periods of having been contracted out before 1997 (each less than 18 months) and I do not have any frozen employer pensions from those periods as I did not have the right to them. I believe the employers 'bought me back' into the contrated-in system when I left their employment. So, under these circumstances, how do these periods affect my S2P entitlement? Will it be reduced regardless of the fact that I forfeited any employer pension rights for those periods?
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Comments
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"The amount of ASP could be lower than the estimate if you were contracted out of additional State Pension anytime between 6/4/78 and 5/4/97".
The quote on my statement says "could be lower". I asked an equivalent question on an earlier thread.
In my case I have about 18 years contracted out and 18 years contracted in and still have £52.61. The value of my contracted out contributions is very much greater than the Government's £52.61. I get the impression that the years between '78 and '97 are taken into account but that the DWP is reserving its position for some reason. Perhaps it has lost the data for some classes of people.
However, I can find no guidance notes through Googling that would explain why the DWP cannot calculate for this period. I may write to the DWP but from experience it takes about six months to get a response.I have osteoarthritis in my hands so I speak my messages into a microphone using Dragon. Some people make "typos" but I often make "speakos".0 -
It would be useful if there was a way of checking the S2P on the statement.
I'm pretty sure mine is wrong (overstated) but have no way of knowing what the correct figure is.
Great trying to plan for retirement when you've little idea what the state pension additions will be (mine wll probably be somewhere between £0-£60 pw).
Based on being contracted in between 2003- end 2016 ie 14 years and assuming an average salary of £25k pa - anyone care to hazard a guess ?
No prizes but I will acknowledge the winner in 4 years time0 -
In the past they used to provide a breakdown of the additional State Pension entitlement.
e.g.
Total additional State Pension: £ XX,
Less Contracted-out deduction of: £ XX .
Total additional State Pension we will pay: £ XX
I have statements going back to 2000, however, since 2006 they only provide a single figure.
Therefore, they must have all the information somewhere on their database, unless of course they have lost it!!0 -
I believe the employers 'bought me back' into the contrated-in system when I left their employment
So you are in exactly the same position as you would have been had you been "contracted-in" all along?0 -
http://dl.dropbox.com/u/452108/20110217094333898.pdfThe quote on my statement says "could be lower". I asked an equivalent question on an earlier thread.
Does the above help at all?0
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