PPRuNe Forums - View Single Post - Just a quick reminder, contracting out of AFPS ends next month.
Old 7th May 2016, 09:19
  #46 (permalink)  
F.O.D
 
Join Date: Sep 2006
Location: Swamp
Posts: 48
Likes: 0
Received 0 Likes on 0 Posts
I agree, the new state pension forecast is very short on detail. In particular, there is no working out shown to illustrate how the forecast pension has actually been calculated. I am guessing, because every one has a different NI history, but for most personnel who were contracted out for most of their working lives, there is little point in buying extra NI contributions relating to before April 2016 if they have already achieved the 30 year basic pension qualification time under the old scheme. It may be worth paying NI or working beyond 2016 to achieve the extra pension under the new scheme now that an individuals "foundation or starting" pension amount has been established, and that each extra year of NI from now on entitles one to about £4.40 per week extra until you get to the £155 single tier weekly pension amount. You could always try writing to DWP to see if they would tell you exactly how they worked out your forecast.
F.O.D is online now