State Pension Notification Letter

Gummomarx

I've just received notification that my pension will begin in July at £171.70pw.  I presume this amount is based on the new rates from April since my forecast is still showing £155.95.

Am I correct - please?

noitsnotme

Yes, as that is a 10.1% increase.

Gummomarx

Oops - thanks!  I should've added the 10.1% before posting.

Audaxer

Gummomarx said:

I've just received notification that my pension will begin in July at £171.70pw.  I presume this amount is based on the new rates from April since my forecast is still showing £155.95.

Just wondering if that is definitely the most you can get, or whether you have got any NI gaps you could fill to get you up to nearer the maximum, which will be going up to over £203 pw in April? 

Gummomarx

Audaxer said: Just wondering if that is definitely the most you can get, or whether you have got any NI gaps you could fill to get you up to nearer the maximum, which will be going up to over £203 pw in April? 

I know - I have to pay £4893.20 to make it up to the £203.

Steve_666_

£31 per week, £1612 per year, £4836 in 3 years. Thats a no-brainers, money back in 3 years and 2 weeks

Audaxer

Steve_666_ said:

£31 per week, £1612 per year, £4836 in 3 years. Thats a no-brainers, money back in 3 years and 2 weeks

A bit longer if he is already over his personal tax allowance, but still a no-brainer.

Gummomarx

Steve_666_ said:

£31 per week, £1612 per year, £4836 in 3 years. Thats a no-brainers, money back in 3 years and 2 weeks

£4893.20 for me - I paid it yesterday.  Looking at it another way: I'll get it all back in the first 6 months of having received the pension.

Audaxer

Gummomarx said:

Steve_666_ said:

£31 per week, £1612 per year, £4836 in 3 years. Thats a no-brainers, money back in 3 years and 2 weeks

£4893.20 for me - I paid it yesterday.  Looking at it another way: I'll get it all back in the first 6 months of having received the pension.

Yes, that is another positive way of looking at it.