Civil Service Pensions

MouldyOldDough

Silvertabby said:

MouldyOldDough said:

molerat said:

MouldyOldDough said:

molerat said:

Everyone retiring after April 2025 with a full NI history should be able to receive the full new pension. (£221.20 - £169.50 = £51.70 / £6.32 = 8.2 so 9 years maximum post 2016 contributions needed)

But what is the definition of "a full NI history" ?

ie) How many years in TOTAL ?

If reaching state retirement prior to April 2025 some with a long contracted out history may not have been able to reach the full new pension amount even though they had no gaps and paid full NI every year.  A full history is just that, either no gaps or at least 30 pre 2016 years which gave a full basic pension irrespective of contracting out.  The calculation shows why.

So my, required 47 years (contracted out for 30 of them) is not excessive ?

48 for me.  44 from working, 4 from paying post 2016 voluntary Class 3s.  So, no, 47 years isn't excessive.

You, me and many others on these boards are the winners under the new pension scheme.  Many years of contracted out service, but enough time between 2016 and SPA to be able to add to our pensions, either by working and paying NI or paying voluntary Class 3s for those of us who retired early (60 in my case).

Before anyone chips in, there are alternatives to paying Class 3s at over £800 per year.... either by getting free NI credits by looking after grandchildren, or by paying much cheaper Class 2s by setting yourself up as self employed.

No grandchildren, and just didn't want the faff of selling a few bits of tat on e-bay.  But Class 3s are still a huge bargain.

Or by receiving disability NI Credits for free!!