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Small Pot Question. Complete Pension Idiot.
Comments
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Marcon. i didn't want to complicate the matter with details so said "full", once i file in April i will have 30 and will need 5 more, there is a note in my account stating my time "opted out". thank you for pointing that out as a helpful reminder.
What exactly does your pension forecast show?
Do you mean "contracted out"?
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yes, the forecast says to reach the full 35 years i need 6 more years of contributions, so 5 once i file in april. i worked from 16. SE for the last few, was contracted out of serps for a few.
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no benefits. all pretty simple finances wise.
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Opted out of what?
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i have edited my post.
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yes, i mean contracted out, thank you. i have 24/25 returns filed but only late january and will file 25/26 in april.
and then there is this added further down….
You’ve been in a contracted-out pension scheme
Like most people,
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The problem for people here is that you keep talking about "35 years" which is of no relevance to you whatsoever. The only thing that is now relevant is number of years that you need to reach the full amount which is 7 - your full amount gap, £44.41, is equivalent to 6.71 years, if your forecast was 35 years based that amount would divide exactly by £6.58.
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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thank you molerat. the thread has drifted from my OP. i did try and keep it to one specific question as i know pensions are not a simple "yes, no" situation but it's drifted in to serps/state pension territory which has actually helped me but deflected away from the original point.
i ramble on a bit.
thanks everyone.
p.s this pension i posted asking about is not the one that when "contracted out" payments were made to. that's a 2nd one i eluded to in the OP.
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