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    • stevo88
    • By stevo88 10th Apr 18, 5:52 AM
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    stevo88
    State pension forecast max years?
    • #1
    • 10th Apr 18, 5:52 AM
    State pension forecast max years? 10th Apr 18 at 5:52 AM
    Hi everyone,
    I just got my state pension forecast using the Government Gateway service and it shows me that I have 40years of contributions and that my forecast pension will be 178 p/w. I am approaching 60 years old in July and facing redundancy around that time. The service also tells me that I have 7 years of contributions still to make. Is that right? Can I take early retirement and still get full state pension at 66 without paying any more NI contributions?
Page 1
    • Tom99
    • By Tom99 10th Apr 18, 7:50 AM
    • 2,644 Posts
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    Tom99
    • #2
    • 10th Apr 18, 7:50 AM
    • #2
    • 10th Apr 18, 7:50 AM
    What does it say your contributions to 4/2017 will buy you so far. Is that also 178 p/w or some lower amount?
    • Linton
    • By Linton 10th Apr 18, 8:05 AM
    • 9,747 Posts
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    Linton
    • #3
    • 10th Apr 18, 8:05 AM
    • #3
    • 10th Apr 18, 8:05 AM
    An SP of 178 is above the standard amount. This means that your SP must be based on your contributions up to 2016 including SERPS/S2P and won! increase further apart from the annual inflation /2,5% increase.

    There is no need or benefit for you to pay NI once you take early retirement.
    • stevo88
    • By stevo88 10th Apr 18, 11:50 AM
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    stevo88
    • #4
    • 10th Apr 18, 11:50 AM
    Correction
    • #4
    • 10th Apr 18, 11:50 AM
    Sorry, the amount is 176.11 p/w , this is based on my NI record up to 5 April 2017 and does not include inflation
    Last edited by stevo88; 10-04-2018 at 11:55 AM. Reason: Added information
    • Tom99
    • By Tom99 10th Apr 18, 2:11 PM
    • 2,644 Posts
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    Tom99
    • #5
    • 10th Apr 18, 2:11 PM
    • #5
    • 10th Apr 18, 2:11 PM
    Sorry, the amount is 176.11 p/w , this is based on my NI record up to 5 April 2017 and does not include inflation
    Originally posted by stevo88
    It probably also then goes on to say the max you will be entitled to is 176.11?
    • stevo88
    • By stevo88 10th Apr 18, 3:14 PM
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    stevo88
    • #6
    • 10th Apr 18, 3:14 PM
    • #6
    • 10th Apr 18, 3:14 PM
    My main question is do I need to make any further contributions after my redundancy?
    • Tom99
    • By Tom99 10th Apr 18, 3:26 PM
    • 2,644 Posts
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    Tom99
    • #7
    • 10th Apr 18, 3:26 PM
    • #7
    • 10th Apr 18, 3:26 PM
    If your forecast says max=176.11 and to 4/17=176.11 the no.
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