State pension query - sorry re: COPE

Mick70

Morning all,
I checked my wifes state pension - it states will get £175.20 per week , £9161 pa

as at now it shows 37 full years of NI Contributions with no gaps , which i think is enough for full SP regardless of what happens in future

however it also says you were contracted out , the COPE estimate is £8.50 per week

does that mean her state pension will be £175.20 Less £8.50  OR is it simply giving a breakdown ?


On my own state pension forecast it shows COPE of £61.20 pr week ?!!  I still have 4 years NI to pay 

many thanks
mick

Chickereeeee

Just ignore the COPE figure.  The figures you have left show your actual position.

MallyGirl

AFAIUI it is just reminding you that there should be another pension out there somewhere 

Dazed_and_C0nfused

Is the £175.20 just the headline (which most people will see) or what she actually accrued to 5 April 2020?

as at now it shows 37 full years of NI Contributions with no gaps , which i think is enough for full SP regardless of what happens in future

As she is under transitional rules the number of years isn't really relevant.  She had a starting amount at April 2016 and needed to add X years to that to reach £175.20.

Silvertabby

The COPE has no bearing on your wife's State pension.  However, as MallyGirl says, it does indicate that she has another little pension out there, which may be claimed from 55 rather than SPA.  Does she know where it is? 

Mick70

Silvertabby said:

The COPE has no bearing on your wife's State pension.  However, as MallyGirl says, it does indicate that she has another little pension out there, which may be claimed from 55 rather than SPA.  Does she know where it is? 

think she has a small scottish widows pot of about £12k from when much much younger 

thanks for help all , again appreciated , makes you panic slightly that the cope amount is somehow a deduction
thanks

bermudianmark

Make sure to contact Scot Widows and get annual statments if not already done so, they send a sort of mini book now personalosed with your detials and projects in.

Dox

Helpful reading for anyone in the same boat and wanting(!) to understand more: https://www.which.co.uk/money/pensions-and-retirement/state-pension/your-state-pension-and-benefits/how-much-state-pension-will-i-get-aukgp6n9jkcz

xylophone

The COPE was used  when establishing your wife's "starting amount" for state pension.
At 6/4/16, two calculations were done

NI years/30 x £119.30 + (Additional State Pension - Deduction for Contracting Out).

(NI years/35 x £155.65) - Contracted Out Pension Equivalent.

Her "starting amount" was the higher of the two.

 It might have been equal to/more than/less than a full NSP.

If equal to a full NSP, further contributions or credits would not have improved her position - the amount would only increase each year under inflation proofing arrangements.

If more than a full NSP, the position could not be improved - the full NSP/"protected payment" elements would only increase each year under inflation proofing arrangements.

If less than a full NSP, there was a possibility of improvement up to (but not beyond) a full NSP by contributions /credits.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf  dates from 2013 - the full NSP was actually £155.65 at inception but explains the mechanism.

dunstonh

thanks for help all , again appreciated , makes you panic slightly that the cope amount is somehow a deduction
thanks

A lot of people seem to think it is a deduction but it doesn't actually say that on the forecast.