Full state pension

[Deleted User]

I will have paid in 47 years by April 2024 the year in which I receive my state pension. No moans from me though as I will then only be about 50p a week short of the new full pension. I was contracted out for 35 years. Pleased I had the opportunity to make up the years.

kuratowski

By contrast to the previous few posts, I am in a similar position as the OP, in that I will have accumulated a full new state pension by age 53.  So, the 2016 reforms have given me good reason to make age 53 my target for early retirement!

Thrugelmir

No reason for people to moan. As for many years they paid a lower rate of employees national insurance. While the changes in 2016 levelled the playing field it came a cost to the pocket. 

Dazed_and_C0nfused

Thrugelmir said:

No reason for people to moan. As for many years they paid a lower rate of employees national insurance. While the changes in 2016 levelled the playing field it came a cost to the pocket. 

Totally agree.
From experience of posts on here it seems that on the whole those that don't understand the new State Pension think they are losing our whilst those that do understand it realise they are winners.

jem16

Thrugelmir said:

No reason for people to moan. As for many years they paid a lower rate of employees national insurance. While the changes in 2016 levelled the playing field it came a cost to the pocket. 

No there is no reason to moan but there are many 50s' women that like to think they are. I've spent hours trying to explain that they are actually better off in most cases especially if they choose to pay voluntary NICs or get NI Credits from looking after grandchildren. Some have taken it on board but many of them simply won't see it.

PawelK

xylophone said:

What exactly does your State Pension Forecast say?

My forecast says that currently I'd get £114.43 and need another 13 years for £179.60.
My NI record shows qualifying years from 2004/05 when I came to this country and started paying NI up to 2019/20 saying I have 19 full years so far. 

molerat

The 3 years will be the age 16,17 & 18 freebies.  These were awarded to everyone even if not born or resident in this country at that particular time.  Far too complicated to figure out who was actually entitled so the easy option was chosen.

GunJack

I'm also one of the "winners" out of the new system - 13.5 years to SP age of 67, but hit the max SP end of 19/20 due to being a lowly underpaid civil servant in early career and hence some gmp stuff that helped 2016 starting amount, and been permanently contracted-out until it stopped (still in current employer's DB CARE scheme). Can relax a bit now that's banked  

Baldyman1

Just discover the Gateway Pension forcast button 
51 now and it seems i have paid all my N.I that i need to . Not sure why it's more than the stated maximum weekly amount - is this to so with SP2 conributiuons ?

Your State Pension summary

Show your National Insurance number

You can get your State Pension on 11 October 2036. Your forecast is

£188.89 a week

£821.33 a month, £9,856.01 a year

Your forecast

• is not a guarantee and is based on the current law
• is based on your National Insurance record up to 5 April 2020
• does not include any increase due to inflation

JGB1955

Baldyman1 said:

Just discover the Gateway Pension forcast button 
51 now and it seems i have paid all my N.I that i need to . Not sure why it's more than the stated maximum weekly amount - is this to so with SP2 conributiuons ?

Your State Pension summary

Show your National Insurance number

You can get your State Pension on 11 October 2036. Your forecast is

£188.89 a week

£821.33 a month, £9,856.01 a year

Your forecast

• is not a guarantee and is based on the current law
• is based on your National Insurance record up to 5 April 2020
• does not include any increase due to inflation

Are you sure that's all it says?  Nothing about needing another ** years to achieve the forecast?