UK pensions

As I was teaching I was opted out of the SERPS part of the State pension - not the normal NI contributions - I was a few years short due to not working when the children were small but I did have to pay Graduated pension payments and also Earnings related so the small amount I receive from those takes my State pension to just about the full state pension level. I am very surprised that your pension is being cut or is it something to do with the new state pension being the much higher one when you start to receive it?

I didn't knowingly contract out and have paid full NI and superannuation contributions. Can only assume my NHS employers did it. Don't worry I won't starve but it just seems yet another thing I wasn't expecting.

I hope you're right chelseababy but as far as I understand it the new pension will be based on opted-in years.

I don't think they count for nothing. I've been opted out all my working life but I will, eventually, get a state pension. It just won't be a full one.

Yes Tanith that's what it means but during those opted-out years (14 in my case) we were paying a slightly reduced National Insurance contribution, whilst contributing to a private pension, but those years count for nothing when assessing how much government pension we will get.

If we were paying NO national insurance during opt-out I could understand those years not counting but it's unfair that not only will women my age, 61, wait an extra six years for the pension but any opt-out years count for nothing.

Jane10 having opted out at some point does that not mean you will have something to come from another company/private pension? I'm not very up on how it works but thats how I though it worked if you opted out to pay another pension contribution.

Oh bugger Jane10, that really is a bummer. Can you query that?
I dread these Pension letters.
I've another 31/2 years to go and sometimes wonder if I'll ever get there.
Signing all the petitions I can but I don't imagine for one second that'll change anything.

I just got my pension statement. Apparently I have paid enough in the way of NI contributions to have a full state pension BUT apparently I contracted out at one point- God knows when. I was never aware of having done so- I will lose about a third of what they say the full amount is. This is after springing the 6 year delay in paying it anyway. Sigh. Nothing is what is promised these days it seems.

Today's DT has a news item which gives these levels as a % of today's average wage and not as former salary. I haven't yet worked this out as to ad/disadvantage. Morning tea hasn't kicked in yet.