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Unable to understand why I don’t get a full pension....

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Shinamae Fri 01-Jan-21 17:59:21

And as it is impossible for me to get through to the state Pension helpline I was wondering if anybody on here might be able to throw light on the matter. I went in to my government portal to see what years I had to qualify for a pension and I have 47 years of full contributions and I believe the full pension is £700 a month and I’m not at all sure why l only get £637.92. I do work part time and get taxed on my earnings as well as my pension but if somebody could explain to me I would be most grateful as God knows when I’ll actually I be able to get to speak to somebody at the state pension office!! Thank you in anticipation ?

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Doodledog Tue 25-May-21 22:44:14

I think the voluntary contribution is £198 a quarter, but my next payment is nearly due, and it goes up slightly each year. I round it up to £800 a year in my head, although it is very slightly less than that.

I will have paid 8 year's worth of voluntary contributions by the time I get my pension, on top of over 40 years of NI contributions from working. It's maddening, but I can see the predicted amount increase each year on the website, and I can only hope that I live long enough to get past the break-even point. I haven't factored in the amount that I will lose in tax, but (longevity presumed) I think it is always worth paying the contributions if you can afford them.

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