Over 55s: Join the queue for your new state pension statement

valbo

I originally applied online in November, although online isn't available now. Their email said that security info to access the Government Gateway would arrive by post. It never arrived.
I posted my application over 4 weeks ago but nothing yet. The form states it'll take 10 working days to issue from when they receive the form. If they're telling people on the phone it'll take 5 weeks they should put something online about the delay.
Edit - Pension Statement took 7 weeks to arrive.

redux

I had a forecast a couple of months ago that was calculated on only the old rules.

When I saw the news that the new method calculation would now be available I phoned to ask for another, which came in about 2 weeks.

monkeyspanner

My latest experience talking to the guidance service was less than satisfactory. I was told that for the first retirees in the new state pension the higher of the figures for old and new pensions would be the figure used.

If I have understood what I was told for a full entitlement you will need a minimum of 30 years conts. before 6/4/16 and a minimum of 5 years conts. from 6/4/16. Therefore it will not be possibly to get a full new state pension if you reach state pension age prior to 6/4/21.

I was also told that it will not be possible to produce accurate projections of the new state pension until sept 2016 because rules have yet to be finalised. How this will affect people reaching pension age between 6/4/16 and 9/16 I am not sure.

Voluntary payment of conts. for years 2006/7 onwards have been frozen until 5/4/2019.

Triumph13

monkeyspanner wrote: »

If I have understood what I was told for a full entitlement you will need a minimum of 30 years conts. before 6/4/16 and a minimum of 5 years conts. from 6/4/16. Therefore it will not be possibly to get a full new state pension if you reach state pension age prior to 6/4/21.

I'm afraid you have misunderstood (or the person you were talking to has).
Your foundation amount is calculated on both old and new bases. If you have 35 years contributions with no contracted out deductions at the changeover then you will have the full STP as your foundation amount.

jem16

monkeyspanner wrote: »

My latest experience talking to the guidance service was less than satisfactory. I was told that for the first retirees in the new state pension the higher of the figures for old and new pensions would be the figure used.

The transition arrangements apply to all, not just the first retirees.

If I have understood what I was told for a full entitlement you will need a minimum of 30 years conts. before 6/4/16 and a minimum of 5 years conts. from 6/4/16. Therefore it will not be possibly to get a full new state pension if you reach state pension age prior to 6/4/21.

Assuming you mean 35 years from 2016 and not 5 years, then why would it not be possible. If you've already got 35 years or more before 2016 those contributions are not going to disappear.

However what it also important for the full single tier pension is that you have never been contracted out. If you have you will have less.

redux

monkeyspanner wrote: »

If I have understood what I was told for a full entitlement you will need a minimum of 30 years conts. before 6/4/16 and a minimum of 5 years conts. from 6/4/16. Therefore it will not be possibly to get a full new state pension if you reach state pension age prior to 6/4/21.

It's not exactly difficult to have made 35 years contributions by the age of 66, unless it's someone who has spent years not working while raising a family.

And all the way through someone who is worried about their number of years can pay voluntary contributions to top up.

Because of the upcoming changes, the limits for paying class 3 or 2 voluntary contributions have been extended, so it's possible to fill in unpaid years from 2006-07 to 2015-16, provided the payments are made by April 2023.

http://www.pensionsadvisoryservice.org.uk/about-pensions/the-state-pension/voluntary-ni-contributions

torbrex

Whether the statement was due in 10 days or 5 weeks, I still have not got it

valbo

My statement arrived on Saturday, 2 days under 7 weeks since I posted the BR19.
I have 41 qualifying years, I think 30 of those years contracted out and higher starting amount under the existing system.
I'm disappointed they don't give a breakdown to compare it with previous forecasts which showed basic pension, additional etc. Whereas some examples in the accompanying leaflet do give a breakdown of both existing and new rules basic and additional pension as well as the deduction for being contracted out.

greenglide

The "full" "proper" breakdown of the pension forecast (from the beginning of the online service) was very good for people who understood what it was.

That was "simplified" some years ago and these days all you get is the headline figures - similar to the "Combined Pensions Forecasts" that are supplied to pension providers to put on their annual statements.

Unfortunately the vast majority of the population are unable or unwilling to understand pensions or financial matters in general so everyone "simplifies" communications to suit them.

[Deleted User]

I was told on 9th Feb that my statement would take 5 weeks to arrive. Just checked by phone and I was told it would be another 4 weeks. Hi hum