COPE

xylophone

I was in SERPS for 10 or 11 years before I became a teacher, I thought this is lost to the state pension which has been enhanced somehow to that odd figure 11p short of full, despite nigh on 30 years contracted out.

And this has been included in the calculation of your starting amount.

Old System

NI years/30 x BSP + (SERPS/S2P - Deduction for Contracting Out)

New System

(NI years/35 x NSP) - COPE.

Your SA was the higher of the two.

nigelbb

I have never found a description of how the COPE is calculated. For example what is the maximum COPE for each year contracted out? Does anyone have a link?

xylophone

https://www.gov.uk/government/publications/new-state-pension-if-youve-been-contracted-out-of-additional-state-pension/the-new-state-pension-transition-and-contracting-out-fact-sheet

For "Rebate Derived Amount" read COPE.

nigelbb

xylophone said:

https://www.gov.uk/government/publications/new-state-pension-if-youve-been-contracted-out-of-additional-state-pension/the-new-state-pension-transition-and-contracting-out-fact-sheet

For "Rebate Derived Amount" read COPE.

Thank you.