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Sorry to jump in. I need some help...
I received a pension forecast back in November 2016
My State Pension estimate : £113.24 a week in 2024 based on 24 qualifying years up to the tax year 2015/16 ( Starting amount for the New State Pension ) and a COPE estimate amount of £49.76.
As I do not intend to make any further N.I. contributions, based on this estimate will I get a pension of 113.24 a week or 63.48 a week (113.24 - 49.76 COPE) ?
Thank you
Regards
George
Originally posted by udlp
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£113.24 (in todays term - currently it increases by the triple lock each year until 2020).
When you say that you do not intend to make any further NI contributions, is that because you are not working/claiming benefits?
Are you aware that making voluntary Class 3 contributions for post-2016 years may be very good value if you have average life expectancy - current cost is around £740 for a year and this will increase you state pension by around £4.70 a week (up to the maximum £164.35)
You can decide at a later date if this is worthwhile for you