Originally Posted by
PARALLEL TRACK
Just been on the beta UK Gov pension calculator. It came out with £155 ish at age 67. My details are 37 years contributions so far - 2 civil service, 34 military, 1 civil employment.
Am I right in thinking that the reduced NIC I have paid will reduce that figure once they get factored in?
//trk
If you are retiring and collecting the new state pension now after a career of only lower opted out NI contributions then your pension will be lower than those who had not opted out. However, if you are still some years away from national retirement age then any 'full' NI contributions made from now onwards will serve to increase your final pension amount. Very broadly speaking, if you are still 10 or more years away from the national retirement age and make another 10 years full contributions and then have enough total years contributions for a full pension then you will get the full pension. Hence why the calculators might be showing higher amounts than you expect.