Contracted Out Deductions

cjlspencer

The Pensions Service quote a very precise figure (down to the penny) for deductions from the Additional State Pension in respect of reduced (contracted out) NI payments made by former employers.
The Government also provide a website to try and find missing employers/pensions but it is very hit and miss. (For example the pension of Gardner Merchant is now administered by ITV television!)
If the Pension Service could provide details of how the deduction is arrived at it would make life very much easier for people seeking to track down missing pensions.
Any suggestions or advice?

Paul_Herring

If the Pension Service could provide details of how the deduction is arrived at it would make life very much easier for people seeking to track down missing pensions.

I very much doubt that, but here you go:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/447195/new-state-pension--effect-of-being-contracted-out.pdf

drumtochty

I think the original poster is looking for the National Insurance people to provide a document similar to what they can provide at the moment that shows how much NI paid per year but in addition, what years were contracted in, full NI payments and what years were contracted out, reduced NI payments.


That would then give them a start on what years were contracted out and they can then try and work out who the pension providers were in those specific contracted out years.


I have not seen such a document, has anyone ever got that information from the DWP.

Marcon

cjlspencer wrote: »

The Government also provide a website to try and find missing employers/pensions but it is very hit and miss. (For example the pension of Gardner Merchant is now administered by ITV television!)

The Tracing Service asks for the name of your employer at the time you were a member of a pension scheme - they do realise these things change hands (and names) very frequently, so not quite sure what your beef is with them?

p00hsticks

drumtochty wrote: »

I have not seen such a document, has anyone ever got that information from the DWP.

It would be from HMRC, not DWP, I think.

I have received a written NI record from HMRC in the past and thought it did show the rate of NI paid (i.e. contracted in or out) for each year, but I don't currently have it to hand to check, so I could be wrong/

drumtochty

HMRC collect NI and transfer the monies to the DWP.


DWP sent us NI records some years ago as they hold the NI database.


In our reports, the DWP only advised amount paid in NI per tax year.