Deferring state pension

jamesd

Noyem wrote: »

If you reach State Pension age on or after 6 April 2016, you can get a statement including an estimate of the Additional State Pension you’d have got if you didn’t contract out. This amount appears as your ‘contracted out pension equivalent’ (COPE).

As your emphatic quote says, it's only the Additional State Pension portion from SERPS and S2P that is considered in the COPE, not the Basic state Pension portion. The BSP isn't affected at all under the old rules calculation that will apply.

If new rules were being used it would be affected but since you get the higher of the old rules and new rules calculation to calculate what you're due as of 6 April 2016 as your Foundation Amount, that doesn't matter.

bigadaj

I do enjoy an outraged half baked assessment of an area a poster has little knowledge of.

The slightly unfair aspect of the new pension is the fact that many people have effectively qualified for double bubble, saving the NI on the contracted out pension and then accruing more state pension under the new system as well.

westv

Just a pity there are no longer any benefits to a surviving spouse if deferring.