suffi cient additional pension rights under the new system to bring him up to the full rate of £151.25.


Example – employed Maureen will reach her State Pension age in October 2020. On 6th April 2016, Maureen has 35 qualifying years on her NI contribution record. During her working life, Maureen has had short periods when she was contracted out of the additional State Pension.


Her starting amount on 6th April 2016 will be: •


•


under the existing rules – her 35 years NI record would give her a basic State Pension of £115.95 a week plus £86 additional State Pension but a deduction for her contracted out period of £32. (This will be computed by the Department of Work and Pensions.). This totals £169.95. using the new rules Maureen would get


£151.25 less a deduction of £32. totals £119.25.


This


Maureen’s starting amount will be the higher of these two amounts, which is £169.95 a week. As her starting amount is more than the full rate of the State Pension, she cannot accrue additional pension rights under the new system.


How do you get a state pension forecast?


You can get a forecast in some cases online – in other cases you need to ask for a forecast by post. Go to www.gov.uk/state-pension- statement to fi nd out.


For more help and advise, contact us on 01786 822 066 and we would be pleased to help.


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