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Contracted out of SERPS but still in line to get full state pension

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Comments

  • Y_am_I_Here
    Y_am_I_Here Posts: 10 Forumite
    10 Posts Photogenic
    molerat said:
    If you need to make further contributions your forecast will clearly state it, there will be more than one amount shown. There are some good screenshots in another thread here of full and not full forecasts https://forums.moneysavingexpert.com/discussion/6586734/state-pension-forecast-anomaly
    Thank you for this link, seeing the three lines on the "not paid enough" screenshot was extremely helpful 
  • Sus59
    Sus59 Posts: 76 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    To put your mind at rest (hopefully). I was contracted out of SERPS for a number of years, but my pension forecast said that I would get the full New State Pension of £221.20 per week and that I could not improve on it.

    As I am turning 66 in June I applied for my SP the other week and got a letter yesterday confirming the dates payments will be paid to me and they are  £921 every 4 weeks (£230.25 pw due to the triple-lock increase in April I understand). 

    I understand that if I had not contracted out, I would have instead been getting the old state pension with a top-up from SERPS, the total of which may have been higher than the new SP, but I suspect that the money from my DC pension will more than make up for the difference.

    I am happy.
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