State Pension Calculator - When will you get it ?

pioneer

http://www.pensionsadvisoryservice.org.uk/state_pensions/spa_calculator/

Just Key in your DOB and hey presto ! For me its now 66 they didn't tell me that when they started collecting my NI years ago ! :eek:

EdInvestor

Of course there's been a big change as of today: anyone who retires after 2010 will only need 30 years of NI contributions to get the full basic state pension (currently 87 quid a week), compared with 39/44 years today.

This is a major advance for women, who have had a really rough deal under the old system.Formerly around 30% were eligible for the BSP.As of 2010, this will go up to 70%

firesidemaid

says i can get my pension in 2037 - i will have paid in for 48 years by then, blimey!

better batter down the mortgage some more.....who knows what it may change to again before then!

dunstonh

2024 increased to 66, 2034, increases to 67, 2044 increases to 68.

No need for calculator.

Contracted in benefits for SERPS/S2P and graduated pensions will also increase. Contracted out benefits can be taken at your choice between 55 and 75.

misscutiepie1984

so i will have to work longer than my bf thats nice 2052 here i come

seven-day-weekend

Hey! 27 January 2010 AGED 60 for me! (But knew that already).

I'll get a full pension (24 years paid contributions, 2 years voluntary contributions and 13 years HRP = 39 years) and am looking forward to it.

seven-day-weekend

Will people still be eligible for HRP with this new 30 year rule? Anyone know?

And did Edinvestor say that this change happened from today? It's become law then?

Ian_W

seven-day-weekend wrote:

And did Edinvestor say that this change happened from today? It's become law then?

According to the expert from the pensions advisory service on yesterdays Working Lunch it received the Royal Assent on Friday.

EdInvestor wrote:

This is a major advance for women, who have had a really rough deal under the old system.

Mrs W is currently legless from the Champers "celebrating" the fact she'll have clocked up the full 39yrs contributions well before she receives her State Pension 4 years later than expected - aged 64!:rolleyes:

Still, I'm sure she'll have a warm glow inside knowing that those who haven't worked as long or contributed as much won't "lose-out".

Or is there some good news in there somewhere for her?

pioneer

seven-day-weekend wrote: »

Will people still be eligible for HRP with this new 30 year rule? Anyone know?

And did Edinvestor say that this change happened from today? It's become law then?

Does anyone have further info on how HRP affects pensions now; it used to reduce the number of years you had to contribute; has it now been scrapped, modified or stay the same ?

EdInvestor

Not 100% sure about this, but I think I've read that HRP will become an actual credit, rather than reducing the number of years required.

Another big change will be that pension entitlement is accrued on a weekly basis.Up to now it's been annual, so if you worked for only 51 weeks of the year and then left a job, you got nothing for that year. As women do a lot of part time and casual work, due to school holidays and such, they were badly hit by this.

Obviously there are some losers, eg the people who retire between now and 2010, who will still have to acquire the full number of years.On the other hand they will get paid their pension from age 60, while those who need fewer years will not start their pensions until later.

Another change from 2010 is that fellas will be able to get a pension based on their wives' NI record if it is better.

Paul_Herring

Bother - 2039. Was hoping to miss the 'year 2038 bug'....