OAP Pension . Satisfy my curiosity please .

xylophone

It would seem that the OP would have had some 45 qualifying years at 6/4/16.

He was contracted out for some 36 of those years.

His  NSP starting amount  was the higher of 

Old Rules 

NIQY (max 30)/30 x Full Basic SP + (SERPS/S2P - Deduction for Contracting Out)

£119.30 + (SERPS/S2P - Deduction for Contracting Out)

New Rules

(NIQY (max 35)/35 x Full NSP) - Contracted Out Pension Equivalent

£155.65 - COPE

He would have had no SERPS but perhaps some S2P, depending on salary 2002/16.

The DCO/COPE would have been substantial - his starting amount would almost certainly have been given by the old rules calculation.

The OP's starting amount was less than a full NSP at 6/4/16.  He was under SPA by some four years. He could only improve his

starting amount by contributions from 6/4/16 to the last full year before he reached SPA. 

It would appear that he had around four QY up to SPA  which increased his SP but still not to the full amount because of the high COPE

with which he started.

p00hsticks

Marcon said:

Dazed_and_C0nfused said:

DRS1 said:

So he would need another 4 or 5 years to make the pension up to £221.20 pw.  But does he actually have any years which are not full?  Surely not if he has worked for 50 years continuously up to SPA.

I think the op will be one of those who reached SPA so soon after the new State Pension was introduced that they simply didn't have the opportunity to build up enough post 2016 years to reach the standard new State Pension.

Still worth checking on a 'just in case' basis. OP's comment 'I was contracted out for some years last century' made me wonder exactly what their employment history was, given that contracting out for DB schemes continued for another 16 years in this century!

Given that they said in their first post that they 'worked from [the age of] 16 to 66' (which would be their State Pension Age) it seems unlikely that there will be any gaps to fill, but as you say perhaps worth them checking their NI record just to make sure. 

Andy_L

alfmurph said:

I am 71 and well retired . Worked from 16 to 66 . At 27 joined lgps and worked their till i retired with a DB pension . I was contracted out for some years last century so my oap is the new pension but i receive less than the full oap by around 110 pounds every 4 weeks .
My question is - I have been told because of the contracted out situation my db pension is increased to make up for this. Is this true .

yes/no/sort of.

you & your employer paid lower NI contributions.

That meant your employer had more money available to fund your DB pension.

Had they not had that extra money might of reduced the funding (& thus benefits) of the DB scheme to match or they might of cut pay or just sucked up the costs or closed the scheme & replaced it with aless generous one.