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[Pennyfarthing]

£151.25

Same here but then they deduct a small amount from that each week for a brief period when I contracted out.  I have 43 years NI.

What puzzles me is everywhere you look they say the SP is £155.65 so what is this £151.25 ??

[blossom60]

I checked my pensions forecast online yesterday.

I have 31 years of contributions, which would give me £137.86 a week.

If I top up with 4 of the missing years it would cost me about £2800 pounds.

This would take me about 3yrs to get back, when I start receiving my pension, in six years time.

Its an option for serious consideration.

[Pennyfarthing]

I checked my pensions forecast online yesterday.

I have 31 years of contributions, which would give me £137.86 a week.

If I top up with 4 of the missing years it would cost me about £2800 pounds.

This would take me about 3yrs to get back, when I start receiving my pension, in six years time.

Its an option for serious consideration.

another one who won't get the £155.65 they keep on about Blossom! 

[Hurdity]

Under the new system - for women born after 6 April 1953 and for the next ?years ( ie those of us affected by the change in pension age)  you will get two calculations - one based on the new system and the other on the old system and you will get the greater of the two, to ensure you don't lose out. Not sure for how long this will happen but the info will be on the gov website.



Hurdity x

I did explain here but I don't think anyone read it.

Babyjane - if you have been told 40 qualifying years already (how on earth have you managed to work that long and not yet 60?! No contracting out?) then the calculation will be what you would get under the old system ie the current system. You should have been given two calculations ( on the back of your letter). I presume under the new system you would get a lower figure than the maximum (ie £155) and therefore for you the old system is what they will use. The new system you only need 35 qualifying years at the time you reach pension age.

It's all complicated by the calculations for the additional state pension - for some women you will get more if they use the calculcations under the old system.

It's all there on the .gov website. However the additional state pension and contracting out is unfathomable - you just have to accept what they say.

I will get more under the new system as my workplace I was contracted out for a few years and get a small workplace pension.

Hurdity x

[Pennyfarthing]

Latest news today

http://www.paullewismoney.blogspot.co.uk/2016/03/flexible-state-pension.html

[Hurdity]

I checked my pensions forecast online yesterday.

I have 31 years of contributions, which would give me £137.86 a week.

If I top up with 4 of the missing years it would cost me about £2800 pounds.

This would take me about 3yrs to get back, when I start receiving my pension, in six years time.

Its an option for serious consideration.

See the point I made - when you ask for a pension forecast, you should be given two calculations - under the old and the new system, and you will actually be given the better of the two as your pension.

Hurdity x

[Pennyfarthing]

Most women I speak to about the SP have asked for forecasts and I don't think I've spoken to one woman yet who will get the full £155.65 figure that they keep bandying about.

A group of us got together some months ago and have met with our MPs, had walkabouts handing out leaflets, been on local radio and newspapers and have written to Theresa May and the DWP.

I was talking to a woman born just 6 months before me and she was complaining that although she reached SP age last April she had to wait until July to get paid and was annoyed about those three months.  I said "you're actually very lucky because I have to wait another TWO YEARS longer than you." 

[Pennyfarthing]

No good news for the WASPI women in the Autumn Statement this afternoon. 

[Lanzalover]

This whole pension thing makes me mad.

When I started work at 16 I was lead to believe I would get my state pension at 60  then it was increased to 65 and now it's 66 I don't honesty believe that those extra years  NI contributions will get me very much extra in the pension I will receive.

I do think any woman born in the 1950's has been treated really badly. But cann't see any government making any changes to it now. Well not for the better anyway.

Lanzalover x

[Dancinggirl]

The thing is, if we get the pension later it costs the treasury less. What we put in with N.I. contributions doesn't anywhere near cover what we get back in terms of health care and pension.  When the NHS and state pensions were set up people were lucky to get to their late 60s - we now expect to get to our 80s!!! The number of people over 70 is growing very fast - there won't be enough younger working people around to support this imbalance and this is a problem right across the world. 
It is a good idea to keep us working for as long as possible but the health professionals do need to help we women with our menopause problems better.
Working for longer may be good for our health OR it may mean more of us die younger and sort the imbalance.
I hope to keep working well into my 70s if I'm able to. I'm 60 now and have been fortunate to find a job that is part time and allows me to pace myself better now I get more tired.  If you have to work full time then these extra years must be very tough.  DG  x

[Ju Ju]

What annoys me is me is politicians have known for many years the way things were going, but did nothing until there was no choice, probably because it would have been a vote loser. As a consequence many of us ladies were given little time if they were actually informed, to organise their finances and plan for the future. We have been let down by successive governments on this issue. I'm lucky that I have a husband who can support me. Can you imagine a 66 year old coping with a class of 30 early year children? Would anyone that age cope with teaching so many young children. So many jobs can become difficult to do as you age.

[Taz2]

Most women I speak to about the SP have asked for forecasts and I don't think I've spoken to one woman yet who will get the full £155.65 figure that they keep bandying about.

The amount on my letter is £155.65 so I'm hopeful..

Taz x

[Pennyfarthing]

Most women I speak to about the SP have asked for forecasts and I don't think I've spoken to one woman yet who will get the full £155.65 figure that they keep bandying about.

The amount on my letter is £155.65 so I'm hopeful..

Taz x

Well done!  YOu obviously never opted out at any stage.  You are the first person .... and I've spoken to very many .... who will get that full amount. 

[ariadne]

Well I'm still confused  after my latest online  state pension forecast. 

I am 62 years and 2 months.

It says I have 45 years NI contributions,  no gaps in my contributions
It says I must make 4 more years contributions (up to my new state pension age of 65 years and 11 months)
It says my state pension forecast is £155.65  but underneath that,  it says this amount includes £20.18 COPE amount from my contracted out years.

I had to read about  COPE as I didn't understand what it was.

What I don't understand is will my state pension actually include the £20.18 or will that amount be coming from the small private pension my contracted out payments went into? 

I did ask the Pension Advisory Service but the answer was too complicated to understand.  I have also asked my husbands financial advisor but no reply as yet.

Ariadne xx

[babyjane]

My state pension statement this year says I am eligible for £151.25 and I have 40 qualifying years. So is that £4.40 a week short of the full amount.  I am no longer receiving NI credits to my contributions so would need to pay in voluntarily if it was in my interest to do so.