COPE/COD and SP

bigfreddiel

The pension calculations show I will be paid under the old (existing) rules. My sp starts in July 2016. I'm guessing any COPE calculation does not apply because this is what the document explaining the State Pension says:

"If your COPE amount changes will this affect your State Pension amount?

We take your COPE amount into account when working out your starting amount for the new State Pension after 6 April 2016."


Am I correct in my assumption it does not apply to the old rules.

Cheers fj

mania112

If you'd like to speak to a local adviser you can find one at https://www.unbiased.co.uk

greenglide

Under the old rules you get the basic and the AP. The AP has the COD deducted, hence it's name.

The COD can change at April, depending whether you are still contracted out and whether any of it gets revalued?

bigfreddiel

mania112 wrote: »

If you'd like to speak to a local adviser you can find one at https://www.unbiased.co.uk

Love it cheers fj

jamesd

bigfreddiel wrote: »

Am I correct in my assumption it does not apply to the old rules.

There's a deduction for it in both old and new rules calculations. Your Foundation Amount under the flat rate system is going to be the higher of the old rules or new rules calculations. It'll probably be the old rules one.

Additional years worked will then increase your sate pension entitlement by 1/35th of the flat rate per year until you reach the flat rate cap. If you're already over it the amount over will increase by CPI instead of triple lock each year. Flat rate is about £155 a week at the moment.

bigfreddiel

Just had another read of my statement from my BR19 request, and it clearly states "We made a deduction from both amounts because you have been contracted out of the additional State Pension at some time."

So I'm 99.9999% certain the figure of £155.77/week is what I should receive in July.

Cheers fj

xylophone

Presumably you will shortly be receiving an invitation to claim your pension?

bigfreddiel

xylophone wrote: »

Presumably you will shortly be receiving an invitation to claim your pension?

Hopefully - I believe the earliest you can claim is 4 days and 4 months before which will be next week for me.

Cheers fj

greenglide

The BR33 invitation to claim is normally despatched about 4 months before SPa date but they are split over a week so it is a bit variable.

The invitation tells you nothing and doesnt form any part of the claim.

If you intend to claim on line you can register for the service at any time, long before you can claim. You have to wait for the credentials to use the service and you need to be registered with the Government Gateway.

If you intend to defer you do nothing.

brewerdave

...but if you defer, you will find it impossible to find out what you will get UNLESS you actually start a formal claim -seems crazy to me, but online or otherwise, DWP won't give a number!

xylophone

My relative claimed by phone a couple of years back and was told approximate amounts with details in writing to follow.

I am assuming that even under the new regime a phone claim will be possible?

https://www.gov.uk/state-pension/how-to-claim