Pension changes - can someone explain?

pimento

Thanks for all your advice. I will ask him to get a pension forecast.

atush

Good luck and let us know how you/he get on.

Might help the next poster with the same Q.

xylophone

As the OP's husband was thirty when they married, he may well have NI contributions from before 1986?

pimento

xylophone wrote: »

As the OP's husband was thirty when they married, he may well have NI contributions from before 1986?

I will enquire. Thanks

SallyG

Just wondering if they will make the flat rate pension shareable on divorce - a lot of current divorce financial settlements/Duxbury rules for capitalisation rely on the existence of the derived basic state pension?

pimento

OK, the forecast arrived yesterday. It says;

"We estimate that your State Pension, based on your National Insurance Contributions record to date, is £37.53 a week."

"The earliest date you will be entitled to your State Pension is when you reach State Pension age. This is on xx/08/2021"

"Basic State Pension

So far you have 8 qualifying years, worth £29.73 a week."

" Additional State Pension and Graduated Retirement Benefit.

We estimate that your additional State Pension and Graduated Retirement Benefit based on your National Insurance contributions to date, is £8.16 a week"


More than I thought, actually, It doesn't mention buying extra years. Is it worth looking into?

atush

Yes, although, if he was self employed (even earning pennies in some way) the cost of these voluntary payments would be far lower.

I have seen some here talking about registering as a 'sage' or some such other nonsense and getting the lower voluntary rates.

pimento

It's fair to say that my husband has been a rather expensive hobby but I honestly don't begrudge him a penny.

atush

you might begrudge paying 700 quid a year over a hundred or so?

Look into it.

pimento

I don't understand what you're saying, atush.