State pension amount

rhylbloke

Thanks very much everyone who commented. I did wonder if it might be some combination of years of being part of a local government superannuation scheme, and the old and new state pensions. 
As that superannuation scheme does give me a decent pension, I am quite happy to be also receiving £881 every four weeks ( not every month, as somebody correctly pointed out 😊 ) So, all good.
Thanks again.

MarlowMallard

I think you still can buy 2019/20 and 20/21? This might be an option for the OP?

I think that's right. You can buy back 2019-20 until 5 Apr 2026, and 2020-21 until 5 Apr 2027.  The OP was apparently under state pension age 66 in those years, so can still buy them, claiming pension now does not prevent buying missing years before pension age.  The pension will increase from when she buys years, but the increase will not be backdated.  

QrizB

@rhylbloke per the posts above, you can still boost your State Pension if you want to.

You're currently getting £220.42 a week, compared to the full NSP of £230.25. Buying an extra year for ~£930 would boost this by £6.58 a week, to £227. A second year would add the last £3.25 a week.

The first extra year will pay for itself in about 3.4 years, the second year will take closer to 7 years.

rhylbloke

QrizB said:

@rhylbloke per the posts above, you can still boost your State Pension if you want to.

You're currently getting £220.42 a week, compared to the full NSP of £230.25. Buying an extra year for ~£930 would boost this by £6.58 a week, to £227. A second year would add the last £3.25 a week.

The first extra year will pay for itself in about 3.4 years, the second year will take closer to 7 years.

Thanks very much for that explanation. All things considered, I think I will leave things as they are. 
I very much appreciate everyone's input and it does seem ( a bit ) clearer now. 😊
Cheers.

Dazed_and_C0nfused

rhylbloke said:

QrizB said:

@rhylbloke per the posts above, you can still boost your State Pension if you want to.

You're currently getting £220.42 a week, compared to the full NSP of £230.25. Buying an extra year for ~£930 would boost this by £6.58 a week, to £227. A second year would add the last £3.25 a week.

The first extra year will pay for itself in about 3.4 years, the second year will take closer to 7 years.

Thanks very much for that explanation. All things considered, I think I will leave things as they are. 
I very much appreciate everyone's input and it does seem ( a bit ) clearer now. 😊
Cheers.

A bit of an odd choice from someone using this particular website 😳

rhylbloke

Dazed_and_C0nfused said:

rhylbloke said:

QrizB said:

@rhylbloke per the posts above, you can still boost your State Pension if you want to.

You're currently getting £220.42 a week, compared to the full NSP of £230.25. Buying an extra year for ~£930 would boost this by £6.58 a week, to £227. A second year would add the last £3.25 a week.

The first extra year will pay for itself in about 3.4 years, the second year will take closer to 7 years.

Thanks very much for that explanation. All things considered, I think I will leave things as they are. 
I very much appreciate everyone's input and it does seem ( a bit ) clearer now. 😊
Cheers.

A bit of an odd choice from someone using this particular website 😳

I assume you're referring to the "money saving" part of the title. Well, as I said at the beginning, I was just curious and unable to get any sort of explanation on the helpline. I know that there are lots of helpful people on here who will share their knowledge if asked. If the consensus had been "that sounds wrong, you should query it with DWP" , then I would have, but to have to spend a couple of grand paying for extra years, which would take years to recoup, just doesn't appeal to me. Not to sound too pessimistic, but I could be dead in 7 years. On that cheery thought, I will leave it at that. Thanks again to everyone who shared their insights. 😊
I like to have the last word. But somehow I doubt that I will. 🤔😄

MarlowMallard

 Not to sound too pessimistic, but I could be dead in 7 years. On that cheery thought, I will leave it at that. Thanks again to everyone who shared their insights. 😊

I like to have the last word. But somehow I doubt that I will. 🤔😄

The first year is a no-brainer.  You'll probably get offers to pay the £930 for you and split the extra £6.58 per week 50/50.  Why not find a cash-rich friend and make them the offer, £3.29 per week free for you.   

ali_bear

Think of it as an insurance policy against the awful but quite likely outcome of living for more than 7 years. 

af1963

ali_bear said:

Think of it as an insurance policy against the awful but quite likely outcome of living for more than 7 years. 

... and if it turns out you don't live 7 years, you won't be around to regret the decision anyway.  

poseidon1

rhylbloke said:

QrizB said:

@rhylbloke per the posts above, you can still boost your State Pension if you want to.

You're currently getting £220.42 a week, compared to the full NSP of £230.25. Buying an extra year for ~£930 would boost this by £6.58 a week, to £227. A second year would add the last £3.25 a week.

The first extra year will pay for itself in about 3.4 years, the second year will take closer to 7 years.

Thanks very much for that explanation. All things considered, I think I will leave things as they are. 
I very much appreciate everyone's input and it does seem ( a bit ) clearer now. 😊
Cheers.

You should seriously consider doing at least one top up of £930 to produce £342.16 index linked annually.

Look at it on a pure investment return basis, where else can you invest such a tiny amount to achieve a guaranteed no risk, inflation linked 36.80 % annual return? Short answer, nowhere, for most people it has to be a 'no brainer'.