New State Pension

Faultline

My birth date is November 1951. At 66 I started receiving the basic state pension. I do qualify for the new State Pension but have probably at least 10 years contracted out when on a company scheme. I paid into National Insurance for over 40 years. Am I entitled to any increases? Can I still ask to buy back years? At 73, would this be an option?  Thanks...

Silvertabby

Assuming you are male, your State pension age would have been 65  (November 2016).

Your last full year of being able to pay NI (by whatever means) would have been 2015/16.  Had you been younger, your 40 years of NI contributions and contracted out history would mean that only adding post 2016 years would have increased your State pension - but that isn't an option for you.

xylophone

My birth date is November 1951. At 66 I started receiving the basic state pension. I do qualify for the new State Pension 

As silver tabby comments, if you are male you reached SPA at age 65, no later than 30 11 16.

Only those reaching SPA pre 6/4/16 receive the basic state pension - those reaching SPA on or post 6/4/16 receive NSP, but not necessarily the full amount.

It seems that you had forty qualifying years at 6/4/16. 

Your starting amount for NSP was calculated at 6/4/16 as the HIGHER of

Old Rules

NIQY (max 30) /30 x Full Basic State Pension + ( Additional State Pension - (if applicable) Deduction for Contracting Out)

In your case

£119.30 + (ASP - (if applicable) DCO)

New Rules

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

In your case

£155.65 - (if applicable) COPE.

It would appear that  despite the number of QY accrued, your starting amount was less than a full NSP (which  indicates that at 

some period you were contracted out of additional state pension) - are you in receipt of a private/occupational pension? 

As you had in excess of thirty five QY at 6/4/16, only QY from 6/4/16 onwards could improve your NSP but in your case, as the 

last full year before you reached SPA was 15/16, this was not a possibility.