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Old 21st Mar 2013, 18:45
  #32 (permalink)  
Erwin Schroedinger
 
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We don’t know what or how the rebate derived amount is going to be calculated yet, but if, and as you say, an extra year of NIC under the new state pension is going to be £4.11 a week we cansafely assume that the deduction will be the same.
Don't see how you arrive at that. The contracted out payments are less than contracted in, but they aren't 100% less (i.e. zero). The £4.11 is simply £144/35. If contracted out is, say, 5% less than contracted in, you should be credited with 5% fewer years of contributions.

On the other hand, I am wondering why a precise calculation of the 'rebate derived amount' isn't in the White Paper. Hmmmmm.....
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