Have I lost out because of Contracted Out Pension?

zagfles

Wahoo !!

I'm similar, in fact I don't even need to pay voluntary contributions as my NI conts after 2016 pay them!!

Very lucky to have been contracted out, I pity those poor sods who weren't contracted out and already have 35 years, they get nothing for their NI conts now.

garmeg

zagfles said:

Wahoo !!

I'm similar, in fact I don't even need to pay voluntary contributions as my NI conts after 2016 pay them!!

Very lucky to have been contracted out, I pity those poor sods who weren't contracted out and already have 35 years, they get nothing for their NI conts now.

Wont they have a higher pension than NSP as a result?

shinytop

I was contracted out for 16 years whilst part of a private sector DB scheme.  That was closed 12 years ago and up until I stopped working I just managed enough years NI to get the full SP.  Another Wahoo !!

Linton

garmeg said:

zagfles said:

Wahoo !!

I'm similar, in fact I don't even need to pay voluntary contributions as my NI conts after 2016 pay them!!

Very lucky to have been contracted out, I pity those poor sods who weren't contracted out and already have 35 years, they get nothing for their NI conts now.

Wont they have a higher pension than NSP as a result?

No, once you have accrued the full SP further NI payments have no effect.  However if you had accrued more SP before April 2016 than the new full SP, you keep it.  So virtually no-one lost any pension that they had already accrued when the new scheme started.

msallen

pricedout_1 said:

Whoever invented contracting out should hung, drawn, and quartered!

People who have no idea what they're talking about but make make sweeping ignorant statements should be hung, drawn, and quartered.

bigadaj

msallen said:

pricedout_1 said:

Whoever invented contracting out should hung, drawn, and quartered!

People who have no idea what they're talking about but make make sweeping ignorant statements should be hung, drawn, and quartered.

Well given the changes over the last few years the statement might be correct from a taxpayer perspective.

jamjar92

msallen said:

pricedout_1 said:

Whoever invented contracting out should hung, drawn, and quartered!

People who have no idea what they're talking about but make make sweeping ignorant statements should be hung, drawn, and quartered.

No,  that is how they feel based on the facts as they see it. They came here for advice and enlightenment.

ElephantBoy57

I was contract out and it formed part of a private pension which I was able to cash in early and it help me to purchase my council house. I will receive the full state pension.

It would be fairer if we received £xx pension increase for every years NI contribution. I believe that does not happen because of equality laws, because those that dont have more NI years would more likely be female.

Thrugelmir

ElephantBoy57 said:

It would be fairer if we received £xx pension increase for every years NI contribution. I believe that does not happen because of equality laws, because those that dont have more NI years would more likely be female.

Now that everyone contributes the same rate of employees NIC they do.  Cannot change the past.