complicated entitlement?

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
3 replies 700 views
rvoervoe Forumite
1 Post
I am having difficulty working out what I might be entitled to state pension wise. Male, retiring age 28.03/2017. Self employed 30 odd years, paid full SE stamp, employed 5 years before that. But earning through quangoes and council membership since 1999, so paid a lot of NI over and above my SE stamp for what will be 28 years by the time I finish. I can't find out what, if any, difference these payments make?

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  • dunstonhdunstonh Forumite
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    Self employed 30 odd years, paid full SE stamp, employed 5 years before that.

    Getting a forecast is correct as that is they only way to be sure. However, with that length of self employment, you will only get a tiny bit more than the basic state pension as the self employed do not qualify for the additional state pensions.
    But earning through quangoes and council membership since 1999, so paid a lot of NI over and above my SE stamp for what will be 28 years by the time I finish. I can't find out what, if any, difference these payments make?

    SE is class 2 and class 4. Neither buys you any entitlement to additional state pensions.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • greenglidegreenglide Forumite
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    With an SPa date of 28/3/2017 you will get the new State Pension.

    Provided you have never been contracted out in your dealings with councils (have you been in LGPS during this time?) then you will probably get the full nSP amount of £147 in today's money.
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