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State Pension Statement

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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

Comments

  • GunJack
    GunJack Posts: 11,828 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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 :)
    ......Gettin' There, Wherever There is......

    I have a dodgy "i" key, so ignore spelling errors due to "i" issues, ...I blame Apple :D
  • greenglide
    greenglide Posts: 3,301 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    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
    deejaybee Posts: 925 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Thanks both, appreciate the feedback :T
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