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Contracted out deductions
CathA
Posts: 1,207 Forumite
If you have been contracted out for part of your working life, is there a simple way to work out how much each year contracted out will reduce your pension under the new system, or does it depend on what you paid?
For example, if you earn X amount and only paid £5 per week in NI contributions, would your deduction be less than someone who earned Y amount but paid £20 per week in NI?
I expect it's not going to be as simple as that!
For example, if you earn X amount and only paid £5 per week in NI contributions, would your deduction be less than someone who earned Y amount but paid £20 per week in NI?
I expect it's not going to be as simple as that!
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