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Pension query
Trash1
Posts: 4
Newbie
Having watched Martin's recent ITV show regarding pensions and then spending tome on MSE website, I understood the full weekly pension anybody could get is £221.20. I'm just wondering if anybody knows why mine says £234.40 per week?
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Comments
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If you were enrolled in the Second State Pension you could get considerably more than that. I get £241.25 a week.
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And my neighbour gets almost £24K, due to high levels of SERPS/SP2 and a few years of deferral at the old, much more generous rate, of 10%.
Contrary to popular belief, the new single tier pension is not more generous than the old pension scheme.1 -
Thank you - I wasn't born before 1951 though which is what I thought potentially qualified someone for this extra payment. I have not inherited an allowance from anyone either. It's all a bit strange!0
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But you got your pension under the old rules. That amount was then carried forward, you were not penalised for having more than the new full pension.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
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It’s not an extra payment, it’s based on your contributions. Some people contracted out and have built up personal pensions instead. You took the contracted in route.Trash1 said:Thank you - I wasn't born before 1951 though which is what I thought potentially qualified someone for this extra payment. I have not inherited an allowance from anyone either. It's all a bit strange!Fashion on the Ration
2024 - 43/66 coupons used, carry forward 23
2025 - 62/891 -
Thanks for all the replies - just mainly wanted to make sure it was correct as I had no idea if I'd paid enough in.0
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