sorry if silly question

bernardh_2

I have been tracing my pensions.My civil service pension comes out at @£5000 from 60,another as @£2000 from 65.
Today,I got my estimate of £101 pw for the state pension. Do I get this as well as the other two?
Hope so as £12000 pa pension should be enough and 15 years to build up more.

Pal

Yes, the private pensions should be on top of the state pension that has been quoted, assuming that the rules don't change before you come to retire.

System

Remember your State Pension is taxable and the way to tax it is through a deduction in the tax code applied to your main occupational pension.

bernardh_2

I hadn`t realised that.So I work for 44 years to get a state pension of £101.39 and they are going to TAX it? Thanks a lot government.

Milarky

I have been tracing my pensions.My civil service pension comes out at @£5000 from 60,another as @£2000 from 65.
Today,I got my estimate of £101 pw for the state pension. Do I get this as well as the other two?
Hope so as £12000 pa pension should be enough and 15 years to build up more.

'£101pw' is much more than the single state pension - are you married or does this include a notional element of 'SERPS/S2P'?

Civil servants [like many] are actually contracted out of these 'top up' pensions via their employer's main scheme. So I suspect part of that figure of '£101pw' may include notional SERPS/S2P that you wont actually get through the state pension as it is paid through the occupational pension [confused?] (My late father's pension book used to contain items which were first 'added' to the basic pension amount, but then 'deducted' a few lines below where his employer's scheme included the equivalent of contracted out benefits in the amount they paid to him!)

So I believe the 'good news' is that I think you get the basic state pension, so don't lose all of it. But I would be interested to hear more about the breakdown of your Pensions Forecast?

bernardh_2

The breakdown is:
Basic state pension £79.60
Additional State Pension £21.60
Graduated Retirement Benefit £ 0.19 (wow)


Total weekly state pension up to 5 April 2019 £101.39

This assumes I do 12 "qualifying years" in the next 15.