State pension forecast advice re buying extra years

evangeline

Many thanks to those experts who have explained things so far.
May I ask for advice re my own forecast please?

State pension Estimate based on contributions…£163.60
35 years full contributions
State pension retirement date …July2025
10 unfilled years, and a half year unfilled going back to 2011/2012 when I was made redundant.
COPE £18.12

cost of filling years;
2021/22 £800.80
2020/21 £795.60
2019/20 £824.20
Previous years all £824.20 except for the half year £412.10

I think I need to buy 4 or 5 years to get full State Pension, but which years? Most recent 2 years are cheapest! But should I be buying oldest years first? Apparently I can until until April( now extended to July31). Like so many unable to get through to Future Pensions.
Grateful for any advice,thanks.

Dazed_and_C0nfused

Assuming £163.60 is what you have actually accrued so far then four post 2016 years will take you to £184.76/week.

A fifth year will only add the remaining 39p/week. Not really a good option ~£800, even with triple lock increases.

molerat

Adding to the above, if all your full years are pre 2016 and that part year is 2015-16 or earlier it will not add to your pension, all further years must be 2016-17 and later.

evangeline

Many thanks molerat and Dazed_and_COnfused. I hadn’t appreciated pre 2016 years would not increase my pension.

MACKEM99

molerat said:

Adding to the above, if all your full years are pre 2016 and that part year is 2015-16 or earlier it will not add to your pension, all further years must be 2016-17 and later.

Hi molerat.  I did not want to add yet another thread as there are so many on the subject of pensions. I want to ask a question about COPE.  The amount stated on pension forecast under this heading is not taken off the amount I will get is it?

Sorry if it's a daft question?

M99

Dazed_and_C0nfused

MACKEM99 said:

molerat said:

Adding to the above, if all your full years are pre 2016 and that part year is 2015-16 or earlier it will not add to your pension, all further years must be 2016-17 and later.

Hi molerat.  I did not want to add yet another thread as there are so many on the subject of pensions. I want to ask a question about COPE.  The amount stated on pension forecast under this heading is not taken off the amount I will get is it?

Sorry if it's a daft question?

M99

No.  And it clearly states so somewhere on your forecast.

MallyGirl

MACKEM99 said:

molerat said:

Adding to the above, if all your full years are pre 2016 and that part year is 2015-16 or earlier it will not add to your pension, all further years must be 2016-17 and later.

Hi molerat.  I did not want to add yet another thread as there are so many on the subject of pensions. I want to ask a question about COPE.  The amount stated on pension forecast under this heading is not taken off the amount I will get is it?

Sorry if it's a daft question?

M99

it gets asked a lot - the gov website could be clearer. It will not be deducted. It was used in a calculation to see if you would be better under old or new rules but that is it. It does give you a clue that there is a pension out there from contracting out but the actual number is irrelevant for anything apart from that one time calculation