State Pension in 5 years time and NI

mumps

greenglide wrote: »

So your Old Rules Amount is greater than your New Rules Amount giving you a Starting Amount of around £150 (there is at least one year to go.

The adjustment for GMP / COD will probably be a couple of pounds or I would so.

With that much AP (to have got you to that figure) you must have been not contracted out for a reasonable part of your working life?

What was your New Rules Amount?

The new rules amount was about £110, I will have to find the letter to get the exact amount. I'm not sure off hand how many years I wasn't contracted out. Like alot of women with children, I have four, I have had changes of career due to home commitments and periods at home, not for long probably between 6 months and 18 months for each child. would guess at 20 years not contracted out but that might not be dead on.

I will be happy if it is only a pound or two out. I already have a private pension of around £6k so not too bad. My husband has better private pension but lower SP, about £120 I think. Roll on 2018, I am going to retire this year but it will be nice when the SP starts.

gadgetmind

mumps wrote: »

would guess at 20 years not contracted out but that might not be dead on.

My wife contracted out into DC, then left work a few years later as kid came along. Of course, she never contracted back in, at least not for well over a decade.

Let's hope that HRP years don't also get counted as contracted out years!

greenglide

gadgetmind wrote: »

My wife contracted out into DC, then left work a few years later as kid came along. Of course, she never contracted back in, at least not for well over a decade.

Let's hope that HRP years don't also get counted as contracted out years!

During the HRP years there are no contributions, only credits, so there is nothing to contract out of. It only makes a difference if AP is being earned.