Single Tier Pension 'Con'

I discovered this recently too, JiltedPensioner. I was blithely assuming I would get the full state pension after paying contributions for 40 years, including the 6 years family responsibility protection when I was at home with my 3 children. Apparently not, as I paid into my local government pension scheme for around 18 years and so was opted out of SERPS then and for other periods too (as we were all encouraged to do back in the 80s, of course).

I applied for a state pension forecast 5 weeks ago and rang up last week as the website states a forecast should take 10 working days. I was informed that the system is now so complicated due to the many changes that forecasts are having to be worked out manually and are taking "a considerable time". I'm told I won't get mine for several weeks yet.

I was made redundant this year, am coming up to 60 and was hoping not to have to take a paid job until my state pension kicks in when I'm 66 (I look after my DGC and want to volunteer). Now of course I'm in limbo, not knowing whether I will be allowed, or can afford, to buy back any years, and wondering if I am going to have to start job hunting.

From the "this is money" link you give, someone who's worked as a fireman all his life has just had a state pension forecast of £50 per week. Under the old scheme he would have the full state pension, missing out only on the SERPS element.

It just goes to show that there's little point in saving or planning for retirement if they're going to change the rules retrospectively. We've just had a financial crash because there is an entire generation who live off tick and save for nothing. This will exacerbate the problem.