Pension/HMIT/NI

HarryS

Hi
I am 60 in December and have 2 very small pensions:

Pension A. I pay £71.48 each month, (part of which is paid by tax relief)
Building Society Pension Standard series 03 (deposit) 410.1700 units
Building Society Pension growth Series 03 (Deposit) 2,450.0427 units

Pension B. No money being paid
Managed Pension Accumulator Series 03 (Managed) 1,404.8525 units

My question for pension A : is it worth continuing with the payments?

My question for pension B: What does the following mean? and how do I know?

The recent paperwork states,
'The Government used to pay some of your NI contributions into your pension (contracting out) Contracting Out ended on April 6th 2012 , so any contributions we receive will be for the 2011/2012 tax year (or earlier)
We didn't receive any contributions from the government for last year. If you think you are entitled to these let us know

I also wonder why the NI paragraph was not on Pension A paperwork

There is another very small dormant pension: £5,400 cash fund with a different company 3,958.200 units

With the new state pension rules, I now must wait until I am 66 for this.

Thanks for any help/advice. I am totally lost!

xylophone

I take it that you are "Mrs Harry" as Mr Harry is in his seventies and already in receipt of his state pension.

You will receive your state pension in the new scheme - you might wish to obtain a statement.

https://www.gov.uk/future-pension-centre

With regard to the private pensions, are they being provided by an insurance company? If so, which?

One of them was set up solely to receive NI rebates?

http://www.which.co.uk/news/2012/04/60-second-guide-to-contracting-out--282615/

With regard to "last year", which year was that?

With regard to the "small dormant pension" presumably it is still invested and growing?

Would you benefit from the consolidation of all three into one?

Are you still working? Does your employer provide a pension?

Do you intend not to draw any pension benefits until state pension age?

https://www.pensionwise.gov.uk/ Some assistance might be available here ?

HarryS

Thanks xylophone, yes I am Mrs Harry!

I will try and answer your questions:

With regard to the private pensions, are they being provided by an insurance company? If so, which?

Windsor Life, Aegon and Scottish Equittable

One of them was set up solely to receive NI rebates?
Not that I am aware of, not sure how I would know/tell?

http://www.which.co.uk/news/2012/04/...g-out--282615/

With regard to "last year", which year was that?
The statement is dated Feb 2015

With regard to the "small dormant pension" presumably it is still invested and growing?
Yes, it is

Would you benefit from the consolidation of all three into one?
Sorry, I have no idea

Are you still working? Does your employer provide a pension?
No, I am at home as hubby's full time carer

Do you intend not to draw any pension benefits until state pension age?
I probably would leave it until I am widowed, although of course I may go first

https://www.pensionwise.gov.uk/ Some assistance might be available here ?
Thanks, I will look. I find it all terribly confusing. Just don't want to be wasting money each month

Thank you for assisting me