State Pension Statement

deejaybee

Hi

Got my letter back today:

My estimate based on state pension age @ 02/06/2027

is £134.00 + £55.11 COPE ( 39 qualifying years)

So am i right in thinking that after another approx 6 contributing years i will be at the max figure of £155.xx ? - i realise that the COPE figure is just an estimate of pension from private/occupational pension.

Also : In 2027 would my " starting amount" be £155.xx, or would i also get the yearly 2.5% increases that have incremented between 2016 and 2027 ( assuming the Government carries on with the triple lock ) ?

Thanks

GunJack

deejaybee wrote: »

Hi

Got my letter back today:

My estimate based on state pension age @ 02/06/2027

is £134.00 + £55.11 COPE ( 39 qualifying years)

So am i right in thinking that after another approx 6 contributing years i will be at the max figure of £155.xx ?probably 5 yrs (5x4.45=£22.25) - i realise that the COPE figure is just an estimate of pension from private/occupational pension.

Also : In 2027 would my " starting amount" be £155.xx, or would i also get the yearly 2.5% increases that have incremented between 2016 and 2027 ( assuming the Government carries on with the triple lock ) ? yes...

Thanks

looks like you've got the gist of it

greenglide

Your starting amount is the value as at 6/4/2016 and that will be uprated by the annual increases until you reach SPa.

And qualifying years from then on are additional to this up to the maximum amount of £155.65 currently.

The starting amount is simply the value that you carry forward from the old scheme.

deejaybee

Thanks both, appreciate the feedback :T