State pension NI years

GunJack

nrsql wrote: »

Troll? Or maybe just poor reading?
I’m not moaning - why do you think I am? I’m just asking how it’s calculated. Also not refusing to give information. I don’t expect more, actually less.
I’ve given all the info I have. The question is how they come to 34 full years from the info I’ve given. I would expect it to be about 33 years and 37 weeks for the reasons stated.

With respect, I think you're misunderstanding....

The "number of years" NI isn't so much of the thing these days, what's more important is the value of the SP accrued to date. What people are trying to do is save you wasting possibly a fair bit of time on something that may well not be relevant...if you've got your NI record, you should also have the current value of earned SP (both relevant to you). Exactly how the NI years are calculated are probably an irrelevance in this case..people are just trying to help you.

nrsql

My question was about the number of NI years accumulated which they say is 34.
Isn't the full sp based on 35 years though?
I thought that the sp figure given was assuming that I kept contributing to make up the 35 years. If I stopped now I would expect it to be either based on their stated 34 years - or my calculated 33 years.

As I said I'm not concerned about the sp amount as I'll keep paying NI beyond the 35 years - just interested (not moaning) about how they get the 34 years.

The forecast is £164.35 per week.
I believe that is the full state pension given for 35 qualifying years.
I don't see how the number of years isn't relevant to the calculation.

If that's not the case then maybe I could stop paying NI now and still get the full state pension.

molerat

The full state pension at 35 years contributions is only for those starting their working life after April 2016. Everyone else with a pre 2016 work history is on a hybrid scheme where more or less than 35 years may be required - I personally have 39 but will not be able to reach the magic number. I thought that simply counting the years stated as "full", including those in which you were 16, 17 and 18 where you were credited with a year each, would give the answer.


You may be able to stop now, your forecast gives several figures one of which is how much your pension currently stands at with no further contributions. There are many threads on here about what happened at April 2016 and expand on why the number of years is not really relevant.

GunJack

On top of Molerat's post above, if you're working you can't stop paying NI, it pays for more than just state pension, e.g. NHS, eligibility for welfare benefits, etc...

When you're logged in to the gov.uk site and are viewing your SP forecast, it should say something along the lines of-

Forecast £164.xx per week

Amount earned to date £xxx.xx

You need xx more years of NI to reach the forecast

Can't remember the actual wording off the top of my head... If you're already at or over the max (which could be more than £164.xx if you had significant SERPS/S2P prior to April 2016) it will tell you you can't increase SP any more.

GibbsRule_No3

GunJack wrote: »

On top of Molerat's post above, if you're working you can't stop paying NI, it pays for more than just state pension, e.g. NHS, eligibility for welfare benefits, etc...

When you're logged in to the gov.uk site and are viewing your SP forecast, it should say something along the lines of-

Forecast £164.xx per week

Amount earned to date £xxx.xx

You need xx more years of NI to reach the forecast

Can't remember the actual wording off the top of my head... If you're already at or over the max (which could be more than £164.xx if you had significant SERPS/S2P prior to April 2016) it will tell you you can't increase SP any more.

I think you stop paying NI when you reach SP age, even if you continue to work after SP or have they changed that now? With the SP age increasing for both men and women, unlike my sister who worked beyond 60, thus did not pay NI (pre 2016 and female SP age years increase, for her) people might not work beyond the SP age in future as they need to work longer to get to the SP.

GunJack

^^correct, NI stops being payable over SP age.

nrsql

GunJack wrote: »

On top of Molerat's post above, if you're working you can't stop paying NI, it pays for more than just state pension, e.g. NHS, eligibility for welfare benefits, etc...

When you're logged in to the gov.uk site and are viewing your SP forecast, it should say something along the lines of-

Forecast £164.xx per week

Amount earned to date £xxx.xx

You need xx more years of NI to reach the forecast

Can't remember the actual wording off the top of my head... If you're already at or over the max (which could be more than £164.xx if you had significant SERPS/S2P prior to April 2016) it will tell you you can't increase SP any more.

Thanks.
The landing page says

£164.35 is the most you can get
You cannot improve your forecast any more.

I thought that was assuming I kept paying until sp age.
I think you're saying that's what I've accrued to date even if I stopped paying now?
Minus the £31.06 COPE. Bit sneaky not making that more prominent.

Makes a bit more sense what people are saying.
Bit concerned about the caveats if I can't check their calculation from my NI record.

Dazed_and_confused

Why do you think you have to deduct the COPE amount?

molerat

nrsql wrote: »

Thanks.
The landing page says

£164.35 is the most you can get
You cannot improve your forecast any more.

I thought that was assuming I kept paying until sp age.
I think you're saying that's what I've accrued to date even if I stopped paying now?
Minus the £31.06 COPE. Bit sneaky not making that more prominent.

Makes a bit more sense what people are saying.
Bit concerned about the caveats if I can't check their calculation from my NI record.

COPE is only used in the calculation of the 2016 starting amount, what you see there is what you will get. You have already reached the maximum so no matter how many more years you work and contribute NI you will not add to your state pension.

nrsql

Dazed_and_confused wrote: »

Why do you think you have to deduct the COPE amount?

Isn’t the amount stated the total pension including the cope which is provided elsewhere?