Basic State Pension - How Much Will I Get?

Curious_Moose

Crikey, I've just read the "MSE Guide to how much state pension will I get" and that has helpfully made me realise that I'm not sure what I'm on track for whereas before I thought I did know! (if that makes sense)

Background is that I checked on my Government Gateway account and I have 37 years of full NI contributions. Great! I have over the 35 qualifying years so should be sorted. Not necessarily. The guide states:

"To get the full new state pension (currently £203.85 a week), you'll likely need at least 35 qualifying NI years (though some will need many more)."

Further Info
My government gateway account says:
"Your forecast is £203.85 a week. Your forecast is based on your NI record to 6 April 2022"

I stopped working in 2021 and am unlikely to be working again. I'm not claiming any benefits so won't be getting any NI credits (if they are needed). My state pension year is 2031.

A couple of years ago I queried the calculation of my basic state pension and the DWP sent me a letter saying that it was based on the higher of old State Pension rules and the new State Pension rules. It seems mine was based on the old State Pension rules before 6 April 2016. They helpfully provided the numbers for comparison.

Of my 37 qualifying NI conts years, 32 were before 6 April 2016 and the remainder after. Not sure if that is relevant.

My government gateway account also stated "If you're working, you may still need to pay NI conts until 2031 as they fund other benefits and the NHS". That seems to imply that any future NI conts won't count towards my Basic State Pension but the government wants them for other purposes.

So after all that, my question is: Since my government gateway account says my "forecast is £203.85 a week based on my NI record to 6 April 2022", does that mean I'm on track for the full Basic State Pension even if I don't make any further NI contributions before my State Pension date in 2031? Or when they provided that, were they assuming that I would continue to pay NI conts up to 2031? I.e. well in excess of 35 years and if I don't make any more NI contributions it will be quite a lot less than the current maximum of £203.85 a week?

I'm hoping that if I did need more NI contribution years to receive the full basic state pension, it would explicitly say so on my government gateway account and the fact that it doesn't say that means I should be ok as things are.

Thanks in advance

geordiejon

the 35 year rule doesn't apply to you as it is only for anyone who started paying n.i. after 2016.
from what you have posted you are on the max you can receive when you retire even if you don't pay anymore insurance so everything is ok.

Dazed_and_C0nfused

The basic State Pension stopped in 2016 for new pensioners so you won't be getting that.

Having 35 years isn't relevant for you as you are under transitional rules.

But based on what you've posted you will get the standard new State Pension when you reach State Pension age.

forecast is £203.85 a week based on my NI record to 6 April 2022

Any additional NI you pay from now on won't alter that but the £203.85 will increase each year from the triple lock inflation protection*
*unless government changes the rules.

molerat

If there are no other amounts shown on your forecast then you are already there.  Below is a forecast that is not yet there and is quite clear in what needs to be done to reach the max.

Or is it like this which is at the full amount already, no more contributions needed.

p00hsticks

Underneath the headline forecast amount , there should be wording that say something like

'you need to continue to contribute going forward to reach this forecast amount'
or
'you have gaps in your NI record that filling would increase your forecast' 
or
'£xx.xx is the most you can get. You cannot improve your forecast any further'

If it's the last then you are home and dry

Curious_Moose

Thanks for all the helpful replies. Looks like I've already made all the NI contributions needed to receive the pension they quoted which is good news.