estimated additional state pension

worn_out

just looking at the examples of an employee's additional state pension when retiring after april 2000, on pages 36-37.. it says only the figures for the qualifying level for basic state pensions are 'real', the rest are just illustrative...wonder if that includes the %'ages...used for for revaluing the 'surplus' ? I suppose they differ each year and depending on the date you retire...but it does simplify (for me) what is going on.. Might write and ask for 'my copy' from the dwp....

worn_out

wonderful - thank you...now where can i find my payslips from 1978 ...or even my P60's ?:eek:

xylophone

took it when I retired at 54,

https://forums.moneysavingexpert.com/discussion/4758875/gmp-on-early-retirement see post 8.

worn_out

when i retured at 54 my local govt pension became immediately payable, and that included an element of both pre and post 88 GMP...i've never really known (or appreciated) this until recent years ..it wouldn't have made any difference to my decision though. At 65 I had another DB pension which kicked in, with the pre88 GMP from Aviva where i had taken a section 32 plan when I left there in 87. interestingly, I had had no contact at all from the former employer and they initially thought they still had the GMP and included that in my pension statement...after dancing round the lounge floor for an hour or so i then started to realise that it would be rumbled by the DWP if i had two identical GMP amounts both covering the same period from 2 different sources ..so I came clean and told them to deduct it and send my another statement...honest Joe eh ?

xylophone

The figures on the DWP statement for pre 97 ASP and GMP/COD cover both your employments.

Your first employer's pension still has a GMP.

Your second employer's pension still has a GMP.

I imagine that your first employer was a non public service outfit (very likely to have used "fixed rate" revaluation for the GMP in deferment/early payment) - LGPS would have used "full rate".

It is the deferment of the first pension that has caused the high COD.

https://www.barnett-waddingham.co.uk/comment-insight/blog/2014/08/18/what-is-a-gmp/

worn_out

yes , I did a spreadsheet with the 8.5% annual growth of my GMP up to 65 yo just to 'prove' the figures were correct...When Aviva took it and were pointing me at the 'potential' returns I had high hopes..but they soon stopped adding bonuses and I think they just gave up on it in the end...Fortunately I didn't give them my 'excess' as they could have used some of that to prop up the ailing GMP...close shave there..

worn_out

just received a ten page detailed analysis from the DWP of my entire working life's Ni/ pension contributions ..What an excellent service - every aspect of my state pensions, ASP, GMP, Earnings related ..SERPS etc..has been broken down year by year, all the calculations shown and explanations provided. Must have taken weeks..in fact I'd almost given up expecting a reply to my request. Will take me a nice few quiet hours to try and understand it all now...