State Pension Shortfall

Tiger_Tony

According to the Pension Centre I have 48 years of full NI contributions. I am currently 69. The amount of State Pension I get is £156.29 per week. Shouldn't I be receiving £185.15? I rang the Pension Centre who confirmed that what I am getting is correct. Why is this?

MallyGirl

There are  dozens of threads on this already - including 60 pages of https://forums.moneysavingexpert.com/discussion/6358689/guide-discussion-voluntary-national-insurance-contributions/p51
take a read in there

p00hsticks

To save you ploughing through all of that 60-page thread, see this reply by Xylophone to another poster which shows how the 'old' (pre-2016) and 'new' (post-2016) state pensions are calculated. 
34 years enough for full new state pension — MoneySavingExpert Forum

As you had years under both schemes, you fall under 'transitional rules; which means that when the new State Pension was introduced on April 6th 2016 your entitlement under both sets of rules was calculated depending in your individual record, and the higher of the two amounts became your 'starting amount'. 

Every NI year filled between then and the tax year in which you reached State Pension age would add 1/35th of the new maximum (currently £5.29) to that starting amount. 

Your figures suggest that in your case the higher amount was that under the old rules - almost certainly because for many of your pre-2016 years you were 'contracted out' and so paid a lower rate of NI. Unfortunately, unlike many of those previously contracted out  who are slightly younger than you and have had an unexpected opportunity to boost our state pensions to a higher amount that we ever expected under the old rules, you have reached State Pension Age too soon after 2016 to be able to fully increase your pension to the new £185.15 maximum. 

LHW99

If you did not work / pay NI between 2016 and your SPA, its possible you could pay a couple of post-2016 years voluntary contributions to increase your pension.

If you weren't working, and can put up here your month / year you reached SPA someone would be able to comment.

Tiger_Tony

My  SPA was 16/10/2018. I actually stopped work on 5/4/2018. I was contracted out for many years. The Pension Centre says I have 48 years of full contributions and one year less than full. The Pension Centre says I cannot make any top-up contributions.

Dazed_and_C0nfused

Tiger_Tony said:

My  SPA was 16/10/2018. I actually stopped work on 5/4/2018. I was contracted out for many years. The Pension Centre says I have 48 years of full contributions and one year less than full. The Pension Centre says I cannot make any top-up contributions.

Looks like you are a partial winner under the new system, being able to add two post 2016 years.

But unfortunately didn't have enough years to SPA to take it up to the standard new State Pension.

Still better than the ~£145 you would have otherwise be getting 😊