New State Pension starting amount and full record of qualifying years- trial service

GunJack

greenglide wrote: »

They must have fixed something as it no longer tries to project my amounts beyond my SPa date of May this year.

The amount I am offered has gone up as well(!) from £158.29 to £162.49.

There is still something weird though as it thinks it is £161.64 based on my 2015 NI record going up to £162.49 if I continue contribute. Continuing to contribute, in my case, would earn nothing as I am contracted out and have a full contributions record. If anything an extra may actually reduce the amount as it could increase the COD? Their is no rate change for nSP between the 2015 / 2016 year (6th April is in the 2015 / 2016 year) and the 2016 / 2017 year (from 11th April 2016).

doubt it, as your starting amount will be fixed at April 2016, once you've got it they can't reduce it later...

greenglide

doubt it, as your starting amount will be fixed at April 2016, once you've got it they can't reduce it later...

But we havent reached April 2016 yet and the Rebate Derived Amount (or whatever it is called not) can change between April 2015 and |April 2016 because of the final year's contributions data.

onzey

SnowMan wrote: »

As greenglide says ringing the state pension claims number (0800 731 7898) on Monday is probably the easiest way to clarify things

https://www.gov.uk/contact-pension-service

Good luck :beer:

Well I rang the number and have put in a claim and await final calculations and then my entitlement will be posted to me. They can't tell me my SP until they receive the contracted out deduction figure from HMRC.

All the chap could tell me is what is on the system as of 07/01/16 which is

Basic pension £119.30 + £2.53 (Graduated Retirement Benefit).

He said if I'd never been contracted out there would be an additional £86.27 so final SP will depend on how much that is reduced by.

So, I suppose SP will be the £130.66 figure I got from the online statement if the contracted out deduction matches whatever appears in the entitlement letter.

The online statement figure of £130.66 was based on NI up to 2014/2015.

It seems I wouldn't get to the £132.43 figure because, according to him, the NI auto-credit I receive for 2015/2016 won't make any difference. He said NI contribution for 2015/2016 would only make a difference if I was working.

GunJack

greenglide wrote: »

But we havent reached April 2016 yet and the Rebate Derived Amount (or whatever it is called not) can change between April 2015 and |April 2016 because of the final year's contributions data.

no it can't, the starting amount calc is based on the higher of both old rules & new rules calculations. You obviously have enough serps under the old rules to take you over the nsp max anyway, so your starting amount shouldnt change due to 15-16's contracted out. The calculation under the new rules may be slightly lower taking 15-16 into account, but it's already lower than the old rules calculation

greenglide

no it can't, the starting amount calc is based on the higher of both old rules & new rules calculations. You obviously have enough serps under the old rules to take you over the nsp max anyway, so your starting amount shouldnt change due to 15-16's contracted out. The calculation under the new rules may be slightly lower taking 15-16 into account, but it's already lower than the old rules calculation

I really meant the real COD (as in Contracted Out Deduction) in the old-rules calculation. I am currently contracted out but my periods of non contracted out mean that there is a sizeable amount of AP which makes the old rules amount greater than the new rules amount. What I am uncertain about is whether the COD will increase due to the final year of contributions.

Time will tell!

coyrls

Have I missed something? Where does it indicate if and when you were contracted out or not? I know that I was contracted out for some but not all years. When I look at my National Insurance details every year shows Full Year. I'm old enough to have got a Pension Statement which is dated 26/5/2015. There is a difference of £7.40 per week between the statement and the online system (the online system being higher) but I guess that could be because the online system has later information. My statement said "we made a deduction because you have been contracted out of the additional State Pension at some time" but gave no details.

Also a second question. I have been credited with 4 full years before 1975. I did work in 1974/75 (a year off before University) but the years before that I was still at school. Did they give credits for the post-16 years at school? I don't have equivalent credits for my time at university. It's nothing vital, I'm just curious.

greenglide

It doesnt tell you details about whether you were contracted out or not.

If you do know when you were contracted out (you would have had to be in a DB scheme or a contracted out DC scheme) you need to get details from HMRC. Go here https://online.hmrc.gov.uk/shortforms/form/NIStatement to request one online.

greenglide

Also a second question. I have been credited with 4 full years before 1975.

That was the days when your employer stuck physical stamps on a card! I remember it well!

I got 4 years from school / university before I started work in 1972.

coyrls

greenglide wrote: »

It doesnt tell you details about whether you were contracted out or not.

If you do know when you were contracted out (you would have had to be in a DB scheme or a contracted out DC scheme) you need to get details from HMRC. Go here https://online.hmrc.gov.uk/shortforms/form/NIStatement to request one online.

Thanks, I thought from some of the other posts that it did give this information. To be honest, I'm happy enough with the projected amount and so I'll let sleeping dogs lie.

GunJack

coyrls wrote: »

Also a second question. I have been credited with 4 full years before 1975. I did work in 1974/75 (a year off before University) but the years before that I was still at school. Did they give credits for the post-16 years at school? I don't have equivalent credits for my time at university. It's nothing vital, I'm just curious.

should have 3 years credit for the years containing 16th 17th and 18th birthdays. I got that in mid-80s