pinfireman Posted June 22, 2017 Report Share Posted June 22, 2017 I get £114 a week for 38 years of contributions! And NO top ups.....Zilch! But what,s the betting that if I had a deep tan, spoke poor english, I would qualify for some benefits? Quote Link to comment Share on other sites More sharing options...
AVB Posted June 22, 2017 Report Share Posted June 22, 2017 Its all very confusing, think mine said it could not increase so does that mean I could pack in work and contributions now and get the same amount in 2031 than if I carry on ?? That's how I interpret it. If you work you have to contribute but if you stop work then your contributions also stop and you would get the same amount. Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 That's how I interpret it. If you work you have to contribute but if you stop work then your contributions also stop and you would get the same amount. Weird innit. You would think there would be a incentive to carry on paying NI. Anyway question answered my pension is safe if I stop work before I am 67 which is defo going to happen, my old dad dropped dead in front of me in the office at 57 and never had the chance to enjoy any retirement, it ain't gonna happen to me...hopefully. Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted June 22, 2017 Report Share Posted June 22, 2017 I can only say that I retired just short of my 60th 6 months ago ......... and so far not regretted a thing ....... Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 I can only say that I retired just short of my 60th 6 months ago ......... and so far not regretted a thing ....... Good for you my friend, you make sure you enjoy life off the tread mill 👍 Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted June 22, 2017 Report Share Posted June 22, 2017 Good for you my friend, you make sure you enjoy life off the tread mill Thank you indeed! And I hope that yours works out well for you. Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 Thank you indeed! And I hope that yours works out well for you. Many thanks I hope so too cos I feel like I have done enough now 😞 Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 Just had another look. Mine says 36 years contribution, no gaps says £159.55 and you cannot increase this. Presumably as I have reached the minimum years of 31 or whatever there is only one figure but those that haven't done 31 years hard labour will have two figures one if you stop now and one if you carry on. Still not sure why there are differences in the end amount as I thought pension was pension, so why are some getting more than others ?? Quote Link to comment Share on other sites More sharing options...
AVB Posted June 22, 2017 Report Share Posted June 22, 2017 Just had another look. Mine says 36 years contribution, no gaps says £159.55 and you cannot increase this. Presumably as I have reached the minimum years of 31 or whatever there is only one figure but those that haven't done 31 years hard labour will have two figures one if you stop now and one if you carry on. Still not sure why there are differences in the end amount as I thought pension was pension, so why are some getting more than others ?? I don't get that either. Mine definitely states 30 years contribution and £177/month in 2029. Are there any PWers who understand the state pension scheme in detail who can answer this? Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 Its weird innit mate. Good for you but how come you get nearly twenty quid a week more than me when I have paid six years more 😞 its very very weird indeed. Quote Link to comment Share on other sites More sharing options...
colin lad Posted June 22, 2017 Report Share Posted June 22, 2017 When I log into my HMRC account it details my NI contributions year by year going back to when I started work in 1979 and states that I have made enough contributions to qualify for a full pension. Can you not do the same? same as above checked mine, they tell you what you are entitled to, mine goes back to 79 too quite interesting to see how muck i was paying back then Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 This is confusing. AVB how old are you ? Quote Link to comment Share on other sites More sharing options...
AVB Posted June 22, 2017 Report Share Posted June 22, 2017 This is confusing. AVB how old are you ? 54. Trying not to work again. Or if I do not as hard as I have previously. Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 So is your retirement age 65 ? And if you don't mind me asking how come you have 30 years and I have 36 I am 53 by the way and retirement age 67 Quote Link to comment Share on other sites More sharing options...
colin lad Posted June 22, 2017 Report Share Posted June 22, 2017 i am 53 and retire at 67 too Quote Link to comment Share on other sites More sharing options...
AVB Posted June 22, 2017 Report Share Posted June 22, 2017 I spent some years working overseas when I didn't make contributions. Started work at 16. State Retirement age is quoted as 2029 which would make me 67 if it is taken at year end. Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 That answers it then, didn't mean to pry mate just trying to understand all the descrepancies 👍 Quote Link to comment Share on other sites More sharing options...
the barbarian Posted June 22, 2017 Report Share Posted June 22, 2017 My pension statement dated 04/06/15 which is based on the new state pension that came into effect 6th April 2016 states the following Estimate based on NI contributions records up to tax year 2013/14, which shows 46 qualifying years will be £258.17 per week and may be higher by the time I reach retirement age (January 2018). This pension is made up of the state pension plus "SERPS" contributions. SERPS is now called S2P. (state 2nd pension). I also have a Final Salary pension + a Defined Contribution pension which comes from my Previous Employer which I worked for for 46 years +. Now been early retired since Christmas 2015 and loving every minute of it. Quote Link to comment Share on other sites More sharing options...
team tractor Posted June 22, 2017 Report Share Posted June 22, 2017 What's mad is I've been left school almost 20 years and still have 35 years until my pension Quote Link to comment Share on other sites More sharing options...
vampire Posted June 22, 2017 Report Share Posted June 22, 2017 Hope my state pension is ok,am same as you Ips and self employed from age of 23,personal pension is nothing to look forward to. Mate is same age as my and did 22 years in army and is on £750 a month which is about to double plus state pension on retirement. Quote Link to comment Share on other sites More sharing options...
ips Posted June 22, 2017 Author Report Share Posted June 22, 2017 Same here mate had personal pension since 86 and it ain't worth anything now. Would not keep me in cigars and scotch. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted June 22, 2017 Report Share Posted June 22, 2017 I am told my company opted me out of full contributions for many years as I was in the in house pension scheme. I have absolutely no awareness of this happening at the time but the reduction I face now is not going to cause me grief. What I would say though is the state pension is a magnificent bargain. Looking back over my old contributions, I will get back out every week roughly what I paid in each year in contributions. so that's 52-1 return. In one year I will get back virtually what I paid in over my entire working life, nice for me but for the Government they need to get real and cost this out as a business not a hand out to the silver voters. Quote Link to comment Share on other sites More sharing options...
pinfireman Posted June 23, 2017 Report Share Posted June 23, 2017 You could hardly call mine a handout! Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted June 23, 2017 Report Share Posted June 23, 2017 I am told my company opted me out of full contributions for many years as I was in the in house pension scheme. I have absolutely no awareness of this happening at the time but the reduction I face now is not going to cause me grief. What I would say though is the state pension is a magnificent bargain. Looking back over my old contributions, I will get back out every week roughly what I paid in each year in contributions. so that's 52-1 return. In one year I will get back virtually what I paid in over my entire working life, nice for me but for the Government they need to get real and cost this out as a business not a hand out to the silver voters. How's it so good? Mine only shows what I've paid in on some of the years but most years are in the thousands not hundreds. I've just logged into mine for the first time, in 2058 I'll get £156 a week. Quote Link to comment Share on other sites More sharing options...
norfolk dumpling Posted June 23, 2017 Report Share Posted June 23, 2017 Just registered for my state pension online - getting it September - and what a performance. To access you need personal details, NI number, a password, a gateway number and an access code. Appears to be very secure but then you just know a kid of five armed with an iPhone can hack the DWP data! Quote Link to comment Share on other sites More sharing options...
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