New state pension - calculator

Wouldn't the simplest thing be to just log onto your Personal Tax Account and check your actual entitlement?

I do not believe there is any such calculator. The calculation is complex depending on many more factors than simply the number of years you were contracted out - eg which years you were contracted out and your income in each year. However, unless you want to check DWPs calculations it doesnt matter in that all this was worked through in April 2016 and the SP rebased on those calculations.

If you just want to know how many further NI years you need to get the full pension divide the amount of weekly pension you have yet to earn by the full weekly pension and multiply by 35. If you were thinking about buying pre 2016 years you would need to talk to the Future Pensions Centre anyway.

Officer_Dibble wrote: »

I was contracted out for a number of years (the latest version of the online forecast says as much) but it still says I'll be getting the full new pension. Very nice if so, but it would be nice to know if I'm actually entitled to it, or if they'll crunch the numbers again in a few years and decide that I'm not.

That is perfectly possible - for example if you were also contracted-in for sufficient years you could have earned sufficient SERPS/S2P to balance the contracted-out deduction. Or if you are relatively young and have sufficient time to make up the contracted out deduction by paying more than 35 years NI.

Thanks Linton - it is indeed perfectly possible, but what I don't know is whether it's actually the case or not! They've come up with an answer without showing their workings (or giving any way of checking their workings), whilst being able to change that answer at some point in the future and being able to take back anything that's already been paid to me under their original calculations. A year by year calculator would be welcomed by me as well as the original poster.

(NI years/30 X £119.30) + (Additional State Pension - Deduction for contracting out).

(NI years/35 x £155.65) - Deduction for contracting out (COPE).

Calculation as above at 6.4.16 - your starting amount was the higher of the two.

The calculation will give each individual his own calculation but each individual has a stating amount equal to/less than/more than the new state pension (£155.65).

If equal to NSP then no more increases (except index linking).

If less than NSP, there could be the possibility of increase up to NSP., for example by contributions going forward from 2016/voluntary contributions etc see

https://www.royallondon.com/global/documents/goodwithyourmoney/topping-up-your-state-pension-guide.pdf

If more than then there will be no increases (except index linking - this is on the basis (currently) of triple link on amount equal to NSP/CPI on balance.

It would be perfectly possible to have been contracted out for a period and yet have enough ASP after the COD to give an amount equal to the NSP.