New State Pension Guide
Comments
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Are you saying that your husband will be 65 next week and has claimed his state pension?
When did he start his employment with Royal Mail?
Does he have at least 35 years paid or credited NI?
Yes he will be 65 next thursday, he started with Royal Mail in about 1974 and took medical retirement in 2008 and has been drawing that pension since aswell as getting ESA until March 2015.0 -
Silvertabby wrote: »Sounds like my may get a little more once his NI record is updated but, as his Post Office pension was contracted out, he won't get the full £155.
Yes he realises that but though the amount was a bit low0 -
Your husband's state pension will be calculated under old and new rules and he will receive the higher of the two amounts.
He was "contracted out" of SERPS/S2P for at least the 33 years he worked for Royal Mail, so see
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/447195/new-state-pension--effect-of-being-contracted-out.pdf
In his case he will receive £119.30 plus any graduated pension to which he was entitled plus (possibly) some S2P from after 2002.
Has the Administrator from Royal Mail Pensions been in touch concerning how his pension increases will be paid after he reaches age 65 and draws his state pension?
This booklet is dated 2012 so he may have more up to date/personalised information.
http://www.royalmailpensionplan.co.uk/sites/default/files/documents/rm_section_ab_guide_to_pension_payments_and_increases_16.08.12_0.pdf0 -
Your husband's state pension will be calculated under old and new rules and he will receive the higher of the two amounts.
He was "contracted out" of SERPS/S2P for at least the 33 years he worked for Royal Mail, so see
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/447195/new-state-pension--effect-of-being-contracted-out.pdf
In his case he will receive £119.30 plus any graduated pension to which he was entitled plus (possibly) some S2P from after 2002.
Has the Administrator from Royal Mail Pensions been in touch concerning how his pension increases will be paid after he reaches age 65 and draws his state pension?
This booklet is dated 2012 so he may have more up to date/personalised information.
http://www.royalmailpensionplan.co.uk/sites/default/files/documents/rm_section_ab_guide_to_pension_payments_and_increases_16.08.12_0.pdf
Thanks will check those links0 -
Have you obtained a new state pension statement?
https://www.gov.uk/check-state-pension
What is your starting amount?
Forecast if you continue to contribute until 5 April 2017 £130.58 a week - I don't work and I don't sign on, to get this I need voluntary class 3 NI for 2016/17
£130.58 is the most I can get. Your forecast • is not a guarantee and is based on the current law •
Simple questions, must have been asked before? Do I need to get them before the end of this tax year to get the extra increased weekly starting amount of around £4.45 for my State Pension due July 2017 Also is this extra payment backdated if I pay for the NI say 12 months after I draw my State Pension + do I need NI for 2016/17 (3 months worth) until July to get a little extra - every little helps0 -
No to NI after April 2017.
See
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/513609/CA5603.pdf0 -
Just one more question xylophone* :beer: The Department for Work & Pensions website indicates I have until 5th April 2023 to pay extra voluntary contributions. If I wait until 2023 do you believe the Department for Work & Pensions computer is programmed to pay a lump sum in back dated payments or just the £4.45 a week.
In other words, is it essential for me to get extra voluntary contributions before the end of the current tax year, to get paid the extra £4.45 on the 4th July 2017 in my case.
see previous poster: rose28454 her husband is still waiting for his NI record and he retires in 1 week
*as the law stands today0 -
https://www.gov.uk/government/publications/new-state-pension-handouts/four-ways-to-increase-your-new-state-pension
You should telephone to check your situation but as far as I can see, if you want the extra from SPA you will need to contribute now?0 -
Thanks xylophone :beer: I will pay the full amount by Faster Payment nearer the end of the financial year (I will get a deadline from Department for Work & Pensions) Hopefully they will have my complete NI record by that time, so I can make payment without fear of wasting my money - what with my graduated pension, serps, contracting out - I went for the default option every time - wait and see appears to be my best option.
Your forecast
• is not a guarantee and is based on the
current law
With Department for Work & Pensions it's a case of "Let the buyer beware" there is no automatic right to a refund0 -
Hi all is there a capital savings limit if you are on a state pension ?0
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