DWP forecast says 34 years out of 35 is only pennies less per week than full state pension.

michaels

https://forums.moneysavingexpert.com/discussion/comment/81871977#Comment_81871977

As a taxpayer I respect your friends decision not to take advantage of a crazy govt offer at the expense of all taxpayers.

BlackKnightMonty

https://forums.moneysavingexpert.com/discussion/comment/81867843#Comment_81867843

why so many years?

were you earning very little / paying minimal tax?

Silvertabby

https://forums.moneysavingexpert.com/discussion/comment/81872713#Comment_81872713

Not at all - just a lot (38 years) of contracted out service, when I paid reduced rate NI. This was taken into account in the calculation of my foundation amount in 2016.

Every calculation was different. Due to my maximum possible amount of contracted out service (1978 to 2016), and despite having no gaps in my NI history since 1971, as I retired at 60 I still needed 4 years of post 2016 Voluntary Class 3s to take me to the full amount of nSP. I may have needed more, but I had a bit of pre 1975 Graduated Pension and some SP2 from my last 5 years of work, when I was part time.

I am very much a winner under the new pension scheme, and can't understand the complaints from people in similar situations (usually other public sector pensioners!) who are moaning that they have been diddled out of the full new State pension.

Silvertabby

https://forums.moneysavingexpert.com/discussion/comment/81872425#Comment_81872425

At least I paid Class 3 rate! The advice at the time was to sell enough bits on e-bay to qualify as self-employed, then pay Class 2. But I really couldn't be bothered.