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[simonbuk]

Sometimes you have slightly more years qualifying than you think. I thought I had 26 maybe 27 years paid in by the time I was 44, when I checked they told me I had 29 years contributions paid. As I only started working at about 17 I couldn't work out how I got 29 years in, I was told I got gifted 3 years as soon as I started working.

Although people might not get the full SP as its increased to 35 years contributions it has also gone up from 115 to 155 pounds per week.

So where as I would have been entitled to 29/30ths of 115 pounds, I'm now entitled to 29/35ths of 155 - I think ? So I'll actually get slightly more money I believe.

[simonbuk]

Ok, using the link provided earlier by people looks like I was talking rubbish (well the latter part of it anyway).

It says I would have been entitled to £116.24 under the old scheme but under the new scheme £155.65. Even if I paid more NI contributions it would not increase my pension, therefore no point in paying and more contributions (apart from funding NHS, etc)

Doesn't make sense, I've not paid the full amount of NI contributions bug am entitled to the full amount ?

[epipete]

Simon, the bad news is that you are still so far away from being 67 that by the time you retire the retirement age will be 77 and the current value will not have been uplifted for inflation and the Government will legislate that if you have a private pension you will lose your SP because the country is skint!!!

[simonbuk]

Oh yes, I realise ultimately that I will get f*cked by somebody, one way or another !!

What was the comments made about having the SP reduced if you have a Civil Service pension ??

[Saltire]

Oh yes, I realise ultimately that I will get f*cked by somebody, one way or another !!

What was the comments made about having the SP reduced if you have a Civil Service pension ??

Not just Civil Service, as I understand it. I was contracted out into a company pension scheme for some years, and according to my forecast last year, I will therefore only get about £110 a week, instead of the full £155. Given that my wife already gets £690 per four week period, I'm not sure how they work it out, but there you go.

I never realised window sliders could be so fascinating

[GeoffSmith]

Not just Civil Service, as I understand it. I was contracted out into a company pension scheme for some years, and according to my forecast last year, I will therefore only get about £110 a week, instead of the full £155.

That's how I understand it.

What really hacks me off is that my reduction in NI contributions was not huge. Then I had to increase my pension contributions significantly in the new millennium to make up for the plundering bog-eyed Jock's pension ram-raid of 1997†. Then after the fanfare from the Conned'em coalition implying that I would get 40% more SP on retirement, to be told at the retirement seminar that I shouldn't believe everything that everyone was telling me. Still, I saved about 1½% on individual and 3½% on employer NI contributions.

Don't forget that contracting out was positively encouraged by whichever bunch of lying bath-turds were in power in the 80s.

Still, at least I got some money into € before UKEXIT.

† Looking at the data, it looks like it brought in nearly £150 billion which is eight times the amount raised by the banking levies.