HMRC pension estimate

xylophone

The "starting amount" for the NSP depends on the contribution history of each individual, on if/how/when he/she contracted out/brought up children/was employed/unemployed etc.

See and read in full https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/447195/new-state-pension--effect-of-being-contracted-out.pdf

With regard to the period from 2002

2002/03-2015/16 – During this period low to moderate earners who are
contracted-out benefit from the S2P “top-up”. This is achieved by
assuming that the person has been contracted-in to SERPS (which is less
than S2P for low to moderate earners) and then offsetting this amount
from S2P. The difference, if any, is paid by the State as S2P top-up.

otb666

i still dont really understand but the way i see it i have 17 years before SPA So does not really matter as will make up any short fall before that date - although accord to on line estimate they only want 2 years and 8 months which takes me up to 5/4/19

Nationwide8

Not that I expect it will make much difference but my pension forecast on the gov page is still not updated to April 2016,lots of people on here seem to have up to April 16 ?

t0rt0ise

Mine is updated for 2016 but every time I look the forecast has changed by a few pence. It's very odd.

robin61

I have not had a good experience of this.
Last year my wife was told by DWP. Her NI credits stopped in January 2016 when our daughter was 12. She was told that if she had a full year for 2015/16 she would get an extra £4.45 per week which would have taken her to within a couple of pounds of the max £155 per week. When she got an updated statement this year there was no change in the forecast. When she asked DWP why she was told that for her buying extra pre April 2016 years made no difference as she was being assessed on the old system and had therefore been given the wrong advice. However buying extra NI years post April 2016 will give her the extra 4.45 per week.
Seems some of the DWP staff were struggling with this themselves. She has written to HMRC to ask for a refund as that money has been wasted. I wonder if she will get it.
We will top her NI contribution up next year.

Nationwide8

t0rt0ise wrote: »

Mine is updated for 2016 but every time I look the forecast has changed by a few pence. It's very odd.

Maybe it changes as you add NI contributions every month ?