State Pension question

deano180

Just trying to get my head around where exactly I currently sit with my state pension whilst pension planning, after some advice on the below:

I have logged into the Government Gateway site tonight and this is what I am currently showing:

I can get my State Pension in April 2043 (I'm 44 years old), £175.20 a week

Estimate based on NI record up to 5th April 2020 is £134.52 a week

Forecast if I contribute another 9 years before 5th April 2043 £175.20 a week

Contracted Out Pension Equivalent (COPE) - Estimate is £44.60 a week.

If I contribute another 9 years of NI does this mean I will get the full £175.20 a week? Does the COPE affect any of this amount? I'm not sure exactly what all of this means?

I have one private pension and a Final salary pension which I believe were contracted out (the final salary one is still fortunately running today, does this affect the COPE figure further in the future?)

Thanks for your advice

Brynsam

COPE causes endless confusion! Have a look at https://www.barnett-waddingham.co.uk/comment-insight/blog/what-is-a-gmp/ - their explanation of COPE is as good as any.

p00hsticks

Short answer:

yes, paying 9 more years will give you the maximum possible ( currently £175.20). You can ignore the COPE figure.