Good (and short!) explanation of COPE

molerat

You get the same amount for a year, 1/35th of the full pension, however much you pay.  The problem is that some of those years will cease to be available from 6 April 25 so lost forever and the remaining £824 ones will be increasing to likely £1K each.  Currently 23-24 is £907.40 and 24-25 is £967.20, 3.4% September CPI will take that to £1K

Dazed_and_C0nfused

molerat said:

You get the same amount for a year, 1/35th of the full pension, however much you pay.  The problem is that some of those years will cease to be available from 6 April 25 so lost forever and the remaining £824 ones will be increasing to likely £1K each.  Currently 23-24 is £907.40 and 24-25 is £967.20, 3.4% September CPI will take that to £1K

But the final year cannot take you above £221.20/week.

So if say 7 years are needed and 6 takes you to £220.00 the final one would still cost the same but could only add the final £1.20, not an additional 1/35th.

benferry

Like many others, I have found the COPE part a bit confusing.  I understand that the state pension forecast on Gov.uk site will let you know what you are likely to get and if this is the full amount.  I am due to retire in 2029 and have full state pension forecast and COPE will not affect that. 

But how do I check the COPE?

Like many of us now, I have had quite a few jobs over the years (like many, sadly did not consider my pensions) and not sure about when COPE was applied.  I have been given a figure of just over £43 and know this is just an estimate.  I recently retired due to ill health and now get my LGPS pension so why is COPE still showing. The confusing part is that I had several jobs since starting work in 1978, so not sure about all those different jobs and what I had contributed or employer had contributed as part of my work. The changes in 2016 complicated matters for most people who had not kept an eye on their pensions and not sure if I have any other pensions due to the amount of different jobs I have done in that time.

Any clarification would be helpful but seems as if i need to contact DWP (nightmare) to check COPE history

pinnks

But why do you care?  COPE is an amount used only in the calculation of your starting amount at 6 April 2016 and since then you have added sufficient years to achieve a full new state pension in addition to at least your LGPS.  COPE is therefore of no relevance to anything now - just ignore it.

If you had several jobs in addition to your local authority one, the more important question is, have you kept track of any pensions associated with them?

Marcon

LouieMSE said:

benferry said:

But how do I check the COPE?

My COPE (from a statement I printed out in August 2019) is £35.87.  I had 37 qualifying years at 6 April 2016.  I think means my foundation amount is £155.65 - £35.87 = £119.78.  Which meant I then needed a further (only)  just over 8 years for a full new pension (£35.87 / {155.65 / 35}) (am I using the right year's figures?).

I've not worked since 2015/16.  Prior to 5 April 2025, my online statement said I would be entitled to £175 per week without further contributions.  I think that means that 7 years contributions would have got me to £219.24, with the year 8 contribution increasing my pension by a further £1.96 pw.  Not sure why the difference but I definitely need 7 years, with year 8 being a maybe!

My question though, is that everything I have read assumes that the figure provided by GOV.UK is correct.  Unlike @benferry, it does make a difference to how much I still need to contribute.  

How is COPE calculated and how can I check it is correct?

Call the Contracted Out Pensions Helpline on 0300 200 3500 and ask for a Contracted Out history.