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State Pension

30 Apr 2019, 06:51

Hello I am due my state pension in the not too distant future, just read a article regarding been contracted out and not receiving the full pension ,could this happen to me I started at royal mail Nov 1985 and worked full time for around 25 years and been part time for around the last nine thanks.

State Pension

30 Apr 2019, 10:03

In the same position myself, phoned yeterday and because of the contracting out,my state pension will be £150 instead of £165, they told me i cant pay more to top it up as i had paid full contributions, i phoned 0300 200 3300, and they should tell you what your conts are and if no luck check on you gov, i was with royal since 1975

State Pension

30 Apr 2019, 11:25

thanks

State Pension

30 Apr 2019, 11:36

You can see exactly what you will receive online at https://www.gov.uk/check-state-pension.

You will need to register to set up a login.

You can then see what your current forecast is based on your existing NI contributions (to the end of the last tax year) and also how many more years you need to make N.I contributions to qualify for the full state pension (in my case I am 47 have another 4 years to go in order to qualify for the full state pension when the time comes as have full contribution record since 1987). Just to add, I only joined RM recently so my situation may be different to yours.

You can also see a full history of your National Insurance record on that site which will show an entry for each year and whether you have any gaps.
Last edited by itinerant on 30 Apr 2019, 12:50, edited 1 time in total.

State Pension

30 Apr 2019, 12:09

State pension entitlement is a very individual thing and will vary depending on your own work/national insurance history. But generally speaking the older you are and the longer you were contracted out of the state second pension, the more you'll be affected.

But don't fall into the trap of thinking that because you're getting less state pension than the full amount(currently £168.60), you're being short changed. Because the whole point of contracting out was that your employers pension should give you at least as much as you would have got if you had stayed contracted in.

In practice you were probably automatically enrolled into the RMPP when you first joined RM – at the time it may have been called POSSS or POPS. But you could have opted not to join if you'd wanted to.
If you had then you would have got a bit more state pension, but no RM pension at all. So if you take rhia's figures as an example, you'd have got an extra £15 per week state pension, but nothing off RM.

The vast majority of people will be better off by contracting out, particularly if they were a member of a DB pension scheme.

State Pension

30 Apr 2019, 12:17

thanks for replies set up a account at GOV and checked need 1 more year NI contributions to receive full payment ,so happy cheers

State Pension

30 Apr 2019, 13:02

Hopefully I'm not insulting your intelligence, but please make sure it is actually worth your while if you decide to pay the years contribution.

I'm 3 years short (briefly self employed in the '80's), and for my personal circumstances it's not worth it. There are also circumstances where through the passage of time you're forbidden from making the extra contributions too, but you'll find out soon enough, good luck.

State Pension

30 Apr 2019, 16:17

When paying voluntary NIC's, you'll usually get your money back after drawing your state pension for 3-4 years, and then you're in profit. So for most people it's likely to be a good financial move over the longer term, assuming you;re allowed to do it.

State Pension

30 Apr 2019, 18:01

Does working for rm affect your state pension then? im 35 and have the room to maneuver if necessary.

State Pension

30 Apr 2019, 19:49

by lordthornber » Tue Apr 30, 2019 13:02,pm
Hopefully I'm not insulting your intelligence, but please make sure it is actually worth your while if you decide to pay the years contribution.

Not sure if that's aimed at me, but I only work P/T noW ,so my NI is around £750 per year ,so over 2 years ,I will pay £1500,for a extra £300 ish per year ,so in profit after 5 years P.S If im PAYE do I have a choice to not pay NI.

State Pension

01 May 2019, 07:54

It's mostly always worth having a full contributions record as you need it for access to certain benefits. At the same time it doesn't matter because of your not getting the full state pension, you will get pension credit to bring you up to the full pension. I have a major problem that someone who has never paid one weeks NI contributions, can come to this country and because their state pension age they qualify for it. Ok it's called income support, instead of state pension. Most people who have made private provision for their retirement like a company scheme or cash purchase one will not qualify for pension credit. What a f.....g joke. So the people who have not bothered to look after themselves are entitled to the same state pension than people who did. And further more if, God forbid you have to claim any sick benefits, you will be worse of by £67.30 per week as you don't have pension credit to qualify for this top up. I see it every day and it's one of the things that really gets my back up. Need to go get a brew and calm down. :cuppa :cuppa :thumbup

State Pension

01 May 2019, 22:02

stodgy88 wrote:by lordthornber » Tue Apr 30, 2019 13:02,pm
Hopefully I'm not insulting your intelligence, but please make sure it is actually worth your while if you decide to pay the years contribution.

Not sure if that's aimed at me, but I only work P/T noW ,so my NI is around £750 per year ,so over 2 years ,I will pay £1500,for a extra £300 ish per year ,so in profit after 5 years P.S If im PAYE do I have a choice to not pay NI.


I think lordhornber believed you were intending to buy the missing year. You have 34 years NI contributions but you appear to have 2 years service remaining which will take you past the requirement of 35.

State Pension

02 May 2019, 04:40

stodgy88 wrote: P.S If im PAYE do I have a choice to not pay NI.

If you're in work and below state pension age, you have to pay NIC's on income over £166 per week.
Pension income is not assessed for NIC's!

State Pension

02 May 2019, 04:41

rogersh wrote:I think lordhornber believed you were intending to buy the missing year. You have 34 years NI contributions but you appear to have 2 years service remaining which will take you past the requirement of 35.

Depending on circumstances, if you've been contracted out you may actually need more than 35 qualifying years to get the full rate of the state pension.

State Pension

02 May 2019, 05:10

Thanks, on the pension calculator , need 2 years from april 2018 to get full pension,so already paid one .

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