State pension is docked £20 a week because I contracted out: Why is this happening?
2 years, 1 month ago

State pension is docked £20 a week because I contracted out: Why is this happening?

Daily Mail  

I have been on a state pension since 2015. SCROLL DOWN TO FIND OUT HOW TO ASK STEVE YOUR PENSION QUESTION State pension: Why is it reduced by £20 a week because I contracted out of an old private pension I cashed in years ago? I hope I can give you a clear answer, but I'm afraid it's likely that your state pension calculation is correct. ' I receive a lot of questions about why an amount is knocked off people's state pension because they had a company or private pension, and this is a source of regular confusion under both the old and new pension systems. Rather than keep the pension going and draw it at retirement to supplement your state pension, you chose, as was your right, to cash out your policy.

Government Retirement Pension State Paid State Pension Contracted Your State Pension  state  week  happening  retirement  pension  docked  paid  contracted  money  steve  private  deduction  ni  20

History of this topic

State pension to surpass £10,000 a year for first time as inflation soars
2 years, 7 months ago

State pension to surpass £10,000 a year for first time as inflation soars

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The state pension is set …

How to grab a hidden £237 a year state pension boost
7 years, 9 months ago

How to grab a hidden £237 a year state pension boost

Daily Mail  

An estimated one million early retirees could boost their state pension for a knock-down price. State pension boost: Investing just £741 this year could buy an extra £237 a year income for life The returns make it tempting for those with small private pensions, or spare savings earning very little interest, to cash in and buy more government-guaranteed state pension. …

Why am I not getting £155 a week full state pension?
7 years, 11 months ago

Why am I not getting £155 a week full state pension?

Daily Mail  

State pension forecasts and Government jargon about COPE confuse many This is Money readers Former Pensions Minister Steve Webb is This Is Money's Agony Uncle. The statement also shows that they estimate my Contracted Out Pension Equivalent to be £128.48 per week and says that my workplace pension scheme 'should include an amount of pension which will, in most cases, …

Discover Related