We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Are most peoples State Pension slightly different.

Hi folks,

Well the time has finally arrived when I have just applied for the State Pension.

Government Gateway personal tax account have told me in the past that I should get full pension of £203.85, just got the letter and it is working out at £203.71.

Only pennies short I know, £7 a year from full amount, obviously I am not going to question it, in case of a re-calculation downwards.

More curious than anything else if others have differences in a small pennies amount like this, I do realise that for many it can be many pounds in difference.

Thanks.
«1

Comments

  • molerat
    molerat Posts: 33,492 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Everyone is individual, only those born this century will have a one size fits all forecast. The difference is likely due to contracting out.  The big green box is what you can achieve, not what you have got.  What does your latest forecast show ?  Post up the exact details asked below and someone will talk you through it.
    Current weekly £££.pp amount accrued up to April 2022 (or 2023 as some have been updated)
    Number of pre April 2016 NI years full
    Number of post April 2016 NI years full
    Tax year you reach state retirement
    Any COPE amount shown, in a click link in "You've been in a contracted-out pension scheme" if there is one.
    Years which show not full and prices

  • squirrelpie
    squirrelpie Posts: 1,200 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Government Gateway personal tax account have told me in the past that I should get full pension of £203.85, just got the letter and it is working out at £203.71.
    I don't know about 'most' people's state pensions being like that. People might have worked long enough to have paid more than the strictly necessary minimum NI, as I did, or not enough to get so close to the full state pension as my wife did. What proportion get close to the state pension (within one year's NI contribution) I don't know.
    If it was me, I would try to work out why you were told £203.85 but now you actually have £203.71. Did something change in how long you expected to work, or how much NI you have paid?
  • anotherquestion
    anotherquestion Posts: 435 Forumite
    Fifth Anniversary 100 Posts
    edited 28 July 2023 at 12:40PM
    Thanks, the green box now shows what I am actually going to get which is £203.71 a week.

    It does say on there that I have 46 full years contributions. no years with no full amount, but I have been on ESA for a long number of years after being pensioned off on health grounds from my former employer, so got credits for the ESA years.

    "Your COPE estimate is £34.98 a week"

    As the SP amount is near enough within pennies I'm more than happy with that.
  • Just another question here as regards SP, I was asked whether married nor not (I'm living with my partner) and that I must also inform them if we do get married.

    As I understand it, everyone nowadays has their own SP and I can't claim for a partner as a dependant, so just wondering why it may be relevant in my case.

    Many thanks.
  • p00hsticks
    p00hsticks Posts: 13,921 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Just another question here as regards SP, I was asked whether married nor not (I'm living with my partner) and that I must also inform them if we do get married.

    As I understand it, everyone nowadays has their own SP and I can't claim for a partner as a dependant, so just wondering why it may be relevant in my case.

    Many thanks.
    Even if both of you reach SPA after April 2016, spouses can still inherit half of any 'protected payment' (that is any sum over the current new State Pension maximum that had been built up prior to 2016 via SERPS /S2P.

    And if your spouse is old enough that they reached SPA priro to April 2016, then you may also inherit some of their pension. 

    The new State Pension: Inheriting or increasing State Pension from a spouse or civil partner - GOV.UK (www.gov.uk)

    Hence the need for DWP to know if you are married and who to.
  • RSTime
    RSTime Posts: 115 Forumite
    Third Anniversary 10 Posts Name Dropper
    edited 30 July 2023 at 7:36AM
    This has got me thinking. I have semi-retired and plan to carry on working for a few more years. I have 
    • 38 years of full contributions
    • 7 years to contribute before 5 April 2030
    • 6 years when I did not contribute enough
    I have attached my state pension forecast and COPE estimate. Am I correct in assuming that the state pension I will receive is the full amount minus COPE or will I actually receive £203.85/week? If there is a COPE reduction, and I carry on working, will the COPE amount decrease year-on-year as I build up additional years of contribution?

    EDIT: How do I know how many years I was contracted out for?


  • jem16
    jem16 Posts: 19,493 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    RSTime said:
    This has got me thinking. I have semi-retired and plan to carry on working for a few more years. I have 
    • 38 years of full contributions
    • 7 years to contribute before 5 April 2030
    • 6 years when I did not contribute enough
    I have attached my state pension forecast and COPE estimate. Am I correct in assuming that the state pension I will receive is the full amount minus COPE or will I actually receive £203.85/week? If there is a COPE reduction, and I carry on working, will the COPE amount decrease year-on-year as I build up additional years of contribution?

    EDIT: How do I know how many years I was contracted out for?


    At the moment you are due to receive £199.74. One more year will bring you to the full new state pension. Providing you will fill that one year then £203.85 is what you will receive (plus normal index linking). Your COPE has already been factored into that calculation and will not be deducted from the £203.85. 
  • Am I correct in assuming that the state pension I will receive is the full amount minus COPE or will I actually receive £203.85/week? 
    As you presumably read what you have posted I'm not sure why you think it might be minus the COPE figure?

    As it stands you will get £199.74/week.  Which will become £203.85 once you add one further post 2016 year.
  • eastcorkram
    eastcorkram Posts: 828 Forumite
    Tenth Anniversary 500 Posts Name Dropper
    Just another question here as regards SP, I was asked whether married nor not (I'm living with my partner) and that I must also inform them if we do get married.

    As I understand it, everyone nowadays has their own SP and I can't claim for a partner as a dependant, so just wondering why it may be relevant in my case.

    Many thanks.
    Even if both of you reach SPA after April 2016, spouses can still inherit half of any 'protected payment' (that is any sum over the current new State Pension maximum that had been built up prior to 2016 via SERPS /S2P.

    And if your spouse is old enough that they reached SPA priro to April 2016, then you may also inherit some of their pension. 

    The new State Pension: Inheriting or increasing State Pension from a spouse or civil partner - GOV.UK (www.gov.uk)

    Hence the need for DWP to know if you are married and who to.
    Does that mean that, suppose you are married when you claim SP, wether or not actually still together, you tell them that when you claim.

    Some time after that, you divorce. Are you then supposed to inform DWP about the change?
  • jem16
    jem16 Posts: 19,493 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Just another question here as regards SP, I was asked whether married nor not (I'm living with my partner) and that I must also inform them if we do get married.

    As I understand it, everyone nowadays has their own SP and I can't claim for a partner as a dependant, so just wondering why it may be relevant in my case.

    Many thanks.
    Even if both of you reach SPA after April 2016, spouses can still inherit half of any 'protected payment' (that is any sum over the current new State Pension maximum that had been built up prior to 2016 via SERPS /S2P.

    And if your spouse is old enough that they reached SPA priro to April 2016, then you may also inherit some of their pension. 

    The new State Pension: Inheriting or increasing State Pension from a spouse or civil partner - GOV.UK (www.gov.uk)

    Hence the need for DWP to know if you are married and who to.
    Does that mean that, suppose you are married when you claim SP, wether or not actually still together, you tell them that when you claim.

    Some time after that, you divorce. Are you then supposed to inform DWP about the change?
    Yes that’s exactly what you should do. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.2K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.