State Pension - Utterly Confused

dullnote

xylophone thanks for the link, the example just about fits my profile. The edit I could not get my head around I was always thinking a cut off date for the either or, and I have spent hours looking for something that is not there.

From what I have read, April 2016 everyone who has not retired will get a starting point calculated as per your link info, then from every year you pay NI you add on the £4 (approx) a week to your state pension. This is starting to make sense.

Other on here are correct the paper just say things to get the public worked up, well for people in here least we are trying to get to the real facts.

In short I am going to get what I have paid for, which is fine but lots of people will be disappointed as this is being sold by papers and politicians as everyone will get full amount.

Thanks to all for their help on this thread and other I have been reading, sites like this make the internet invaluable.

drumtochty

Dullnote

To be pedantic here.

In April 2016 the new "flat rate" pensions will be around £155 a week or so.

If your old system pension combined with second state pension etc is above that figure at April 2016, you will not earn anymore pension increases apart from inflation no matter how many years NI you pay after that and are below state pension age.

If on the other hand your old system state pension is below the figure it will be in 2006 as you say your state pension will increase by around £4 per week until, assuming you have enough years prior to state pension age until it reaches the new "flat rate" level then stops increasing apart from inflation.

redbuzzard

redbuzzard wrote: »

I've just last week sent off the written request for a forecast under the new system, and based on what I have seen reported by others, I won't be surprised if it is not unadjacent to £92!

I was beginning to doubt that I had really sent this off at all, but this morning came a response!

My joy quickly turned to disappointment - it's a standard letter to say that the DWP Pension Centre cannot send me a statement because

"[it needs] more information from [...] colleagues in another Department". They will send it "as soon as possible".

That's eight weeks to the holding letter. Fair enough, I won't be wasting any more of their scarce resources by grumbling at them, but if you want a definitive forecast before ordering the Lamborghini, get the request in as soon as possible!

greenglide

My joy quickly turned to disappointment - it's a standard letter to say that the DWP Pension Centre cannot send me a statement because

But it isnt a "standard" holding letter.

Presumably there is data missing from the contributions held by NIRS2 (now known as NPS) or they need overseas pension details or similar.

Presumably this delay would have occurred even without the volumes that DWP is seeing but it would have generated the letter quicker.

Presumably you have never used the online system? Presumably that would have told you as well?

redbuzzard

Ah, interesting Greenglide.

Yes I have used the online system a couple of times in the last 3 years, which has given me a forecast under the old system (I will retire under the new one). I expect the 'old' one will be the better of the two anyway, but I thought I might as well get the definitive answer.

There are no overseas pension details - maybe they think there are