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SERPS

11 Nov 2019, 20:48

Thanks Robert and as has been said elsewhere, your help is always very much appreciated.

SERPS

11 Nov 2019, 23:37

Just checked my pension again. Only need 4 more years to get the full state pension. Turned 52 in August. Started at RM 31 years ago this Thursday.

SERPS

12 Nov 2019, 17:38

I would recommend everyone looks into their state pension entitlement. Once who've set up your online account, you can check it anytime to make sure you're on track.

Many people will probably assume they'll get the full rate(currently £168.60 per week), but that might not necessarily be the case. So if you know what you'll get in advance it'll help with your financial planning, you won't get any nasty surprises at the point of claiming your state pension and you'll have time to do something about any shortfall you may have.

I've just checked mine, and as of 5th April 2019 I have 4 more years to contribute until I hit the maximum I can get. Which takes me up to just before my 55th birthday.

Shame I won't be able to claim it until I'm 67. :thumbdown

SERPS

12 Nov 2019, 20:20

Specified Adult Childcare credits may also be of help to increase your level of contributions if for example you look after a Grandchild under 12 years of age. This is made possible by your Son or Daughter (who is employed and pays National Insurance) transferring the National Insurance part of their Child Benefit to you.
Have a look at the Gov.uk link -

https://www.gov.uk/government/publicati ... fact-sheet

SERPS

17 Nov 2019, 17:55

TheStrangler wrote:How do you go about paying up front" as it were to get the maximum pension when you're that age?
My record says no gaps", but I couldn't see any way to pay a lump up front. If I were to pack up work it would appear I'm 4 years short of getting the full state pension @66.
If you can't pay an up front amount can you just claim pension credit to make up the shortfall or doesn't it work like that?


Yes, pension credit makes everybody who has never worked/ worked enough, get the full state pension. For people who have paid into a retirement/pension like most people who work you won't qualify for pension credit because your pension when in payment is classed as income. But a lot of people don't know that you can claim a savers pension credit. It's for or who have made pension provision for themselves. It's not as generous as it was a few years back but still about £11 per week in your tail. I deal with this every day and it really annoys me that I'm awarding people who have never worked the full rate pension and pension credit. And they know how to claim all the rest that's available but our bosses under pressure from ministers will not hear a bad word about pensioners. Anyway most posties will qualify for savings credit but it is being done away with soon but not sure as I'm away from that section just now.

SERPS

17 Nov 2019, 18:46

RobertT wrote:I would recommend everyone looks into their state pension entitlement. Once who've set up your online account, you can check it anytime to make sure you're on track.

Many people will probably assume they'll get the full rate(currently £168.60 per week), but that might not necessarily be the case. So if you know what you'll get in advance it'll help with your financial planning, you won't get any nasty surprises at the point of claiming your state pension and you'll have time to do something about any shortfall you may have.

I've just checked mine, and as of 5th April 2019 I have 4 more years to contribute until I hit the maximum I can get. Which takes me up to just before my 55th birthday.

Shame I won't be able to claim it until I'm 67. :thumbdown


Paying extra via PSE helps to avoid the extra NI payments, as you know. So wrong that you get nothing for them. Another example of how people are ripped off in this country.
As I'm a similar age, I also will have to wait until 67 to get my state pension. :cry

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