Buying extra years

Turbinedave

Hi all , I retired early at 61 in oct 2016 with 42 years NI contributions all contracted out ( member of FS scheme ) my normal retirement date is 5/10/2021 . My understanding is I will receive the basic state pension of £119 pw ( being the higher of the two new/old rates ) and have a estimated cope figure of £67 pw .
Is this correct and should I be paying NI contributions up to my NRD ? Thanks very much in advance .

molerat

Yes you should. You will receive £4.45 pension per post 2016 year accrued until you reach the max £155 with a payback time of 3-4 years. I assume your £119 is an actual figure from a 2016 forecast.

Turbinedave

Thanks very much molerat