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

bry54

greenglide wrote: »

I believe so. As part of the changes for nSP they increased the timescales people had to purchase voluntary contribution. Of course the government always has the ability to increase the price if they desire.

If you have 38 years contributions and are offered £123 you must have been contracted out?

Thanks GG,yes I was contracted out for many years to a final salary scheme ,which unfortunately I transferred into a private pension plan:(

david78

I just used the Tool for the first time today. It shows I have 38 full years of NI and a staring pension of £119.30.

However there is no information about the value of my COPE due to me being contracted out. Should there be a "breakdown" tab showing this? It is missing for me.

greenglide

However there is no information about the value of my COPE due to me being contracted out. Should there be a "breakdown" tab showing this? It is missing for me.

I dont think it would tell you anything useful anyway.

You must have been contracted out for most or all of your working life?

greenglide

which unfortunately I transferred into a private pension plan:(

Oh dear:(

Did you get any recompense for the, presumed, miss-sale?

david78

Yes I was contracted out for 34 years. However there was information about COPE yesterday for a colleague with very similar history to me. But it seems to have been removed today (new tax year) because it isn't there for me.

There isn't even a mention of my starting amount being lower than the £155 because I was contracted out.

Azure11

I just got an error message saying it couldn't work mine out

bry54

greenglide wrote: »

Oh dear:(

Did you get any recompense for the, presumed, miss-sale?

Yes ,I received the maximum which was about 56K.

bry54

I've just spoken to someone from HRMC NI dept and they said any future voluntary contributions I pay will make no difference to my pension , if they don't know ,what chance have we got?

xylophone

I've just spoken to someone from HRMC NI dept and they said any future voluntary contributions I pay will make no difference to my pension , if they don't know ,what chance have we got?

See http://citywire.co.uk/new-model-adviser/news/steve-webb-how-to-boost-new-state-pension-payments/a827032

Muddled_Pensioner

bry54 wrote: »

I'm 62 today and thinking about what I may get , I've 38 full years contributions and been retired since 2010 .
I did a pension forecast which stated I'd get £123 per week from 6/11/19 and MAY get £138.11 if I continue to contribute , I haven't made any NI class 3 payments since 2007.
I'm thinking of paying contributions from today until 6/11/19 , would I be able to do this just before that date to get the full £138.11?

I think we're both in a similar boat, near bottom quote and limited time to improve. So with your 38 and my 41 years we're both well off the mark of getting £155.65 which, when it was announced that there was to be a NEW single tier pension launched and you needed just 35 years of NI contribution to get it. How far from the truth was that!