New State Pension Guide

dunstonh

and tells me I have a forecast pension of £156.64

That would suggest you slightly qualified for a tiny bit more due to past graduated, SERPS, S2P entitlements.

The figure doesnt suggest anything wrong. £156.64 is in the ballpark (you ignore the £76.34 as you dont get that. That is telling you, in broad terms, how much lower your figure is than it could have been if you had not contracted out).

Your history appears to suggest you had some years contracted out and some years contracted in.

Froglet

Does anyone know how long they will continue to give the higher amount of the old v new state pension? Just curious that's all.

p00hsticks

Froglet wrote: »

Does anyone know how long they will continue to give the higher amount of the old v new state pension? Just curious that's all.

As I understand it the 'old v new' calculation has simply been used to just to determine peoples starting amount at the time the new state pension was introduced on 6/4/16. Each additional years NI from then on will potentially increase the amount according to the new rules - i.e. 1/35th of the maximum until the maximum is reached

There may be instances where that starting amount for 6/4/16 may need to be recalculated (for example, if additonal past years are purchased).

greenglide

The "Starting amount" as at April 2016 is the amount you will start the new State Pension with. There is no "end" to this, everyone will get an extra year on top of the starting amount unless or until they reach the nSP maximum of £155.65 (currently).

The starting amount will be uprated each year as will the nSP maximum figure.

The starting amount as calculated lasts until nSP is replaced y something else way, way down the line.

molerat

molerat wrote: »

Anyone know the backstop date for updating the SP amounts using Apr 2016 NI figures ?

Froglet wrote: »

I was advised to wait until October.You could always call first and make sure they are in.

Mine & MrsM's has just updated, have been checking weekly. The forecast amount has reduced by around £3 (to agree with my own calculation) which was discussed earlier in this thread as an assumed additional pension amount.

Froglet

When I rang recently to get an updated figure up to April this year I was told they wouldn't have them until at least March next year.But he did say that as I knew I hadn't paid any NI contributions,he could tell me the amount to pay and add it to the amount already stated in a letter I had earlier this year.

I have finally got online to see my own tax and ni contributions records so I can see when the cheque I have sent off is entered on to the system,ready for my pension due next year.

frank777

If you’re a man born before 6 October 1953, you might get credits towards your basic State Pension for tax years when you were aged 60 to 64.

further information
https://www.gov.uk/automatic-pension-credits-for-men

- don't go paying for missing NI years without checking 1st -


E&OE

33Lurcher

Thanks for that frank , having recently checked my online records I noticed I was credited with 3 extra full yrs from 61-64 making it to 44 yrs in total and wondered why .
I don't think its made any difference as my online SP forecast is still showing the same amount , just applied for it for Jan 2017 .

molerat

As you reach SRA this tax year then 16-17 does not count so no chance of an extra £4.45 if needed. Your pension will be based on the April 2016 figure using either the old 30 year or new 35 year systems so anything over 35 pre April 2016 has no effect. Reaching SRA after April next year could have meant extra as it would to anyone who is short of years.

frank777

33Lurcher - in my case - it's the current year 2016/17 that counts. I contracted out - this will enhance my SP by £4.45 per week - without me paying £733.20 for this missing NI year.