PPRuNe Forums - View Single Post - Pension National Insurance Contributions Retrospective Change to Opted-Out
Old 30th Mar 2017, 18:07
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zedder
 
Join Date: Oct 2000
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If you want to see the detailed bad news, when you get onto the State Pension Forecast website and get your forecast, then select "how contracting out has affected your pension income". It will take you to a new page that will tell you were contracted out. It then talks about the:

Contracted Out Pension Equivalent (COPE)

Your workplace or personal pension scheme should include an amount of pension which will, in most cases, be equal to the additional State Pension you would have been paid. We call this amount your Contracted Out Pension Equivalent (COPE). Your COPE estimate is shown below.

The COPE amount is paid as part of your other pension schemes, not by the government. The total amount of pension paid by your workplace or personal pension scheme will depend on the scheme and on any investment choices.

In my case (28 years service) my COPE estimate is £90.53 a week. So I assume that if I supposedly achieve the £155.65 a week state pension, they will then deduct the COPE figure. Ouch!!
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