State Pension Increases

[mosssideblue]

That’s the point, you don’t pay tax on pension contributions, you get your tax back. So you pay in £80 and £100 is credited into your pension pot.

Agreed. Also, companies often match your pension contributions

 

[stevemacca]

this one doesn't

Or this one

 

[SilverFox2]

I've found out that my State pension increase has come through by letter at less than the 8.5 percent increase.
I've just had a phone call from them that says my weekly amount is composed of my basic pension which is 8.5 percent whereas the 3 other components eg SERPS etc are benefits at only 6.7 percent.

Last year I got the full 10.1 despite being exactly the same mix.

I protested that all the components were pensions deducted from my pay ie Pensions not benefits but they said they didn't make the rules.

Anyone else finding this?

 

[denislawsbackheel]

That’s how it works.

 

[manclad]

I've found out that my State pension increase has come through by letter at less than the 8.5 percent increase.
I've just had a phone call from them that says my weekly amount is composed of my basic pension which is 8.5 percent whereas the 3 other components eg SERPS etc are benefits at only 6.7 percent.

Last year I got the full 10.1 despite being exactly the same mix.

I protested that all the components were pensions deducted from my pay ie Pensions not benefits but they said they didn't make the rules.

Anyone else finding this?

I got a letter from DWP about 6 weeks ago to tell me that my new state pension amount was increasing to £911.40 every 4 weeks.
It was previously £840 per 4 weeks,so as far as I'm concerned it is a 8.5 % increase.
A very small amount of my pension is SERPS related ,about £5 per week only.
And I've not had a phone call from DWP.

 

[blueinsa]

Rooting around HMRC I can see I have a COPE pension forecast as well as State and its £30.57 a week?

Fucked if I know what that is or where it’s come from?

 

[denislawsbackheel]

Rooting around HMRC I can see I have a COPE pension forecast as well as State and its £30.57 a week?

Fucked if I know what that is or where it’s come from?

You very contracted out of SERPS at one time.

Contracted out of the Additional State Pension

Check if you were contracted out of the Additional State Pension and what it means for your State Pension

www.gov.uk

 

[Stephen Ireland's pants]

I got a letter from DWP about 6 weeks ago to tell me that my new state pension amount was increasing to £911.40 every 4 weeks.
It was previously £840 per 4 weeks,so as far as I'm concerned it is a 8.5 % increase.
A very small amount of my pension is SERPS related ,about £5 per week only.
And I've not had a phone call from DWP.

Look at you rockefeller. I can only dream of them numbers when my day comes.

 

[manclad]

Look at you rockefeller. I can only dream of them numbers when my day comes.

I paid NI contributions for 47 years (1972 -2019) and also
paid SERPS for 12 years (1978 -1990) until I opted out on advice from a financial advisor.
So everyone will be getting a similar state pension to me.
In fact my wife will be starting to receive her state pension in 2 months time and her letter from DWP states she will be getting £884 every 4 weeks.
And she didn't work from 1982 - 1996 but was entitled to her SP as a full time mother ( she was entitled to it as she was receiving Child Benefit).

 

[Blue Maverick]

I got a letter from DWP about 6 weeks ago to tell me that my new state pension amount was increasing to £911.40 every 4 weeks.
It was previously £840 per 4 weeks,so as far as I'm concerned it is a 8.5 % increase.
A very small amount of my pension is SERPS related ,about £5 per week only.
And I've not had a phone call from DWP.

Do you get it every 4 weeks then so 13 times a year rather than monthly?