State Pension Forecast and Flat Rate State Pension

Sterlingtimes

By way of example to present my question.

Assume that the Flat Rate Pension is £140 a week (fogetting indexation).

Say that my State Pension Forecast is £180 a week including S2P despite having contracting out for many years and having contract in many for years.

Presumably, despite having contracted out for many years I have contributed sufficient S2P to negate any deduction that would otherwise be attributable to my having contracted out and I would have £40 more besides.

So is the net effect that I would have a pension of £180?

Does a State Pension forecast of greater than £140 always give an award of the State Pension Forcast?

Triumph13

They calculate both old and new methods at the changeover date. You get whichever is higher as your foundation amount. If the old method gives a figure of higher than STP then that is what you get as your pension. If the foundation amount is less than STP then you can accrue up to the STP in 1/35ths for each subsequent year of NICs

xylophone

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf
is worth a look.