How many years are required to get full state pension?

molerat

Those missing pre 2016 years made no difference to your pension forecast.  You do not need to (and must not !) pay those pre 2016 years as they will make no difference to your pension amount.  The 2 post 2016 years, 20-21 and 21-22, on the other hand will add the £10.58 to your pension bringing you just £1.75 short of the max.  Do the sums, a one off £1213.90 will pay you £10.58 per week for the rest of your life - equivalent to a 45% annuity.  After 115 weeks you are in profit even ignoring the inflationary increases.

xylophone

 Can someone tell me what the
You are clearly under transitional rules are?

On 6/4/16, the Government introduced the new state pension.

For all those who would begin their contribution history at or after that date, 35 years NI would be required to achieve a full new state pension.

All those who had started to make their contributions prior to this date fell under transitional rules.

For  each of these people (which include you), two calculations were done at 6/4/16 in order to establish the individual foundation (starting) amount for new state pension.

Old Rules

NI years/30 (max) x £119.30 (Full Basic SP) + (Additional State Pension - (if applicable) Deduction for Contracting Out.

New Rules

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

Your foundation amount was the higher of the two.

It is clear that you had not reached a full NSP at that date and you had a number of years to go before you reached state pension age.

 There was the possibility of improving your pension up to (but not exceeding) a full new state pension by post 6/4/16 contributions or credits.

You can make a voluntary contribution for the 21/22 tax year - this will improve your pension to £178.11 a week.

You are also eligible to make a voluntary contribution for one more year and if you do so, will improve your pension to your personal maximum of £183.40 (which is just short of the current full NSP, £185.15 a week).

If you wish to make the voluntary contributions, you should contact the Future Pension Centre for advice on how to proceed.

Public Information Guide to NSP proposal here

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf

https://www.gov.uk/government/publications/state-pension-fact-sheets/contracting-out-and-why-we-may-have-included-a-contracted-out-pension-equivalent-cope-amount-when-you-used-the-online-service

[Deleted User]

Okay this is too tough for you. For the record, I have tried to find out which weeks were responsible for this short fall but both HMRC and the DWP tell me they can not help. I assume this post is now closed.

QrizB

PaulDesmond said:

Okay this is too tough for you. For the record, I have tried to find out which weeks were responsible for this short fall but both HMRC and the DWP tell me they can not help. I assume this post is now closed.

We all seem to have a pretty firm grip on the situation.

You need another two post-2016 years to maximise your New State Pension. From the documents you've shared, 2020-21 at £413.10 and 2021-22 at £800.80 are your only two available to you.

If you pay the £1213.90 you'll get an extra £10.58 a week for the rest of your life.

hyubh

[Deleted User] said:

Okay this is too tough for you. For the record, I have tried to find out which weeks were responsible for this short fall but both HMRC and the DWP tell me they can not help. I assume this post is now closed.

No one who actually understands the topic will tell you 'which weeks were responsible' for not maxing out the new state pension when you have 40 qualifying years because that's not how it works, as others have explained to you. You have 40 qualifying years for the old basic state pension, in effect. The existence of the transitional system allows you to accrue more state pension than you would have done, had the old system (basic + additional) continued. Be happy, you are very likely one of the winners of the changes...

german_keeper

You have done very well out of the new state pension rules. You have a works pension which meant you paid reduced national insurance contributions for a number of years. Lots of posters have given you valuable information. Molerat and Qriz B have given very specific information about your options. Not sure the tone of your posts really does you any favours and you should certainly be grateful for the information supplied.

But if you do nothing else PLEASE revisit your earlier posts and remove the ones that display detailed personal information on an internet site accessible to anyone.

If the OP doesn't do this are the admin/mods able to do so?  

MallyGirl

I have removed the links which exposed OP's personal data

Dazed_and_C0nfused

german_keeper said:

You have done very well out of the new state pension rules. You have a works pension which meant you paid reduced national insurance contributions for a number of years. Lots of posters have given you valuable information. Molerat and Qriz B have given very specific information about your options. Not sure the tone of your posts really does you any favours and you should certainly be grateful for the information supplied.

But if you do nothing else PLEASE revisit your earlier posts and remove the ones that display detailed personal information on an internet site accessible to anyone.

If the OP doesn't do this are the admin/mods able to do so?  

Some have been deleted but one with the ops full postal address is still available 😳

MallyGirl

I thought I had sorted them all

msallen

[Deleted User] said:

Okay this is too tough for you

!!!!!! are you on. It has been explained to you over and over again, yet not only are you clearly unable to comprehend it, you continue to accuse others of being the ones who don't understand. If this is how you behave in the real world people must be queueing up to help you.