Graduated Pension

jeff_chandler

I'm going back many years with this one, right back to when I first began working around 72.
When I received my pay packet I was deducted Graduated Pension and now I wonder where that contribution actually went? is it included with your Gov pension or included with your private one.
Jeff.

molerat

Grad is paid as part of your SP so if you are currently below SP age it will have been used in the 2016 starting amount calculation and will not be seen as a separate amount. Graduated Pension contributions ceased in 1975. It was last shown as a separate amount on 2012 pension forecasts where I had £3.25p and MrsM had the massive sum of £0.25p

JezR

Each unit of graduated pension is currently worth 13.4p per week. Since it was abolished in 1975 you won't have many units.

xylophone

https://forums.moneysavingexpert.com/discussion/comment/73006460#Comment_73006460

You have now obtained a state pension forecast?

Your grad will have been included in the calculation of your starting amount.

kidmugsy

JezR wrote: »

Each unit of graduated pension is currently worth 13.4p per week.

Don't knock that: anyone with an old-style pension who deferred for 10 years would be getting more than £1.34 per week.