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

SnowMan

They seem to have made some changes to the online information.

Instead of the 3 tabs there is now a single page (and in my case there are then two links down the page to 'view your national insurance record' and 'how contracting-out has affected your pension income')

Under 'The Estimate based on your National Insurance record up to 5 April 2015' there is now a new bit that says

Estimate if you contribute another x years before {SPA year}

The new bit is showing the figure x, where x is the number of approx £4.45s (=1/35 x 155.65) that take the starting amount up to £155.65pw

So they are obviously preparing themselves for when the 2015/2016 year is incorporated into records, after which x will be the number of post April 2016 qualifying years needed to get you up to £155.65pw.

Not sure what would show if you couldn't get up to £155.65pw through post April 2016 years, but I'm guessing that x will be the number of possible post April 2016 years (i.e. number of complete tax years between 6th April 2016 and SPA), and the amount will be the figure (less than £155.65pw) that you can get up to if all these years are qualifying years.

In my case I will actually need less than x post April 2016 years because the 2015/2016 year will increase my starting amount at April 2016.


Perhaps we should have a competition for who first spots and reports that the 2015/2016 year has been incorporated into their record. Winner gets a SAD (Starting Amount Determined) award.

minty777

Mines now based on your National Insurance record up to 5 April 2016

SnowMan

minty777 wrote: »

Mines now based on your National Insurance record up to 5 April 2016

Congratulations on winning the award :beer::T

You are officially SAD.

I've just rechecked and I'm definitely not SAD :j

minty777

And added some more s2p;)

GunJack

mine's still awaiting last year's info, not that it makes any difference...still need 4 yrs 16-17 onwards

My COPE estimate is down as £42 a week :rotfl: my deferred CS pensin and current one will, let's just say., put the COPE estimate to shame, shows how worthless it really is

molerat

SnowMan wrote: »

They seem to have made some changes to the online information.

Instead of the 3 tabs there is now a single page (and in my case there are then two links down the page to 'view your national insurance record' and 'how contracting-out has affected your pension income')

Under 'The Estimate based on your National Insurance record up to 5 April 2015' there is now a new bit that says

The new bit is showing the figure x, where x is the number of approx £4.45s (=1/35 x 155.65) that take the starting amount up to £155.65pw

So they are obviously preparing themselves for when the 2015/2016 year is incorporated into records, after which x will be the number of post April 2016 qualifying years needed to get you up to £155.65pw.

Not sure what would show if you couldn't get up to £155.65pw through post April 2016 years, but I'm guessing that x will be the number of possible post April 2016 years (i.e. number of complete tax years between 6th April 2016 and SPA), and the amount will be the figure (less than £155.65pw) that you can get up to if all these years are qualifying years.

In my case I will actually need less than x post April 2016 years because the 2015/2016 year will increase my starting amount at April 2016.


Perhaps we should have a competition for who first spots and reports that the 2015/2016 year has been incorporated into their record. Winner gets a SAD (Starting Amount Determined) award.

I checked mine and it is in the new format. It now shows my COPE amount, something that was not there in April when I last looked, as £74.82 (which I knew already from my old "too complicated" pension forecast).

It says currently I have £136.48 and the maximum I can achieve is £151.59 if I continue to contribute until 2019. That amount is too high though as I can only add 3 years so 3 x £4.45 = £13.35 + £136.48 = £149.83. As I have posted before maybe they are assuming some add pen for 15/16 (which there will not be). We will see when the figures update.

saver861

Got onto this tonight via the personal tax account. Tad confused on something.

All paper pension forecasts tell me I got the magic 30 years in up to April 2015. This online version also tells me I got 30 years. All good so far.

However, my record is from 1982-83 ( prior I was outside the UK.) It also tells me I have 5 years that are not full i.e. I did not contribute enough. That is correct, as I was at uni.

So, I'm pretty puzzled how it is coming up with these figures. So, in total there is 33 years from 1982-83 to 2014-15. Yet is has me down for 30 full years contributions and 5 when I did not contribute enough.

Any clues?

bigfreddiel

Just to clarify, I may have asked this before, I reach SP age in July, there is no more contracted in or out. It's the same payment now, but I presume my NI contributions for April, a May, and June will not buy me any state pension?

Also I won't be paying any NI contribution for July even tho' my birthday is part way through July? It's not calaculated on a pro-rats basis is it? Cheers fj

greenglide

presume my NI contributions for April, a May, and June will not buy me any state pension

You presume correctly, the final part year is never a qualifying year.

Also I won't be paying any NI contribution for July even tho' my birthday is part way through July? It's not calaculated on a pro-rats basis is it?

This depends on the date the payroll is actually calculated / paid. If your birthday is the 23rd and you get paid on the 22nd you pay normal NI while if your birthday is 23rd and you get paid on 24th you pay no NI. I assume this is true if you are paid on your birthday as well!

There is no concept of pro-rata, it is all or nothing. I reach SPA this month but it is after I get paid so I do pay the final bit of NI.

bigfreddiel

minty777 wrote: »

Mines now based on your National Insurance record up to 5 April 2016

So is mine, it's now £150.63 and it cannot be improved. I reach sp age in 8 weeks time in July. I'm still working, but I guess the £145/month NI I pay are just to fund other people's state pension, amongst other things!

The history of my forecast went like this

Pre -April 16 - £155.77
Post April 16 - £150.33 (using data up to April 15)

When I receive my first full week of state pension I will update this post.

Cheers fj