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Nov 2020
9:10am, 24 Nov 2020
20,513 posts
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EvilPixie
Shades plan started yesterday! Plus I am fully intending to get this nonsense out of my system 1st time round!
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Nov 2020
9:18am, 24 Nov 2020
369 posts
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Shades
Synge - 'lifestyling' , I like that better than glidepath, which sounds like a collision is about to happen.
EP - great news, it's not nonsense, it's a challenge that has to be done 🙂
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Nov 2020
9:20am, 24 Nov 2020
20,515 posts
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EvilPixie
well when I say 1st time round I DNF in 2013 so technically it's 2nd time but nope don't intend to carry on with this madness
just sensible running - maybe try to actually locate some pace which doesn't need part time work!
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Nov 2020
9:22am, 24 Nov 2020
3,717 posts
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um
Shades - no, I have 46 complete NI. The 'shortfall' is because for the years I was in a company pension (about 40 of those 46), the NI was 'contracted out', ie contracted out of the Additional State Pension (also known as State Second Pension or 'SERPs') your National Insurance contributions were either: lower than people paying into the Additional State Pension or paid into another pension, for example a private pension.
I suspect many won't realise that they won't won't get the headline rate for max pension until they check. The rules do seem to be based on deducting the number of years 'contracted out' rather than the number of years contracted in ...
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Nov 2020
9:52am, 24 Nov 2020
35,219 posts
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Hills of Death (HOD)
Yes that was my understanding Shades we have a massive department that looks after it
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Nov 2020
10:02am, 24 Nov 2020
49,990 posts
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Velociraptor
Got my DB pension form all signed and witnessed 
Then had a little, "Oops, better check this," moment regarding whether taking my DB pension (to which I stopped contributing when I went freelance two years ago) part way through a financial year would result in the MPAA being applied to that tax year, including retrospectively to SIPP contributions I've already made, resulting in loss of tax relief on those contributions or even one of those whopping more-than-I've-earned-in-a-lifetime bills that have afflicted some senior doctors in recent years.
It appears that taking a DB pension doesn't trigger the MPAA at all, which I hadn't realised and which will be helpful to know just in case work settles down and I don't flounce off between now and next April.
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Nov 2020
10:05am, 24 Nov 2020
20,518 posts
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EvilPixie
good news vrap
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Nov 2020
10:09am, 24 Nov 2020
7,805 posts
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Too Much Water
20 years so far and I just turned 39
Oddly the years I was at school shown as full years, but those at uni are not. Too late to change that now. I recall being written to by HMRC about this around the time but was advised not to bother as I’d build up enough years through working.
My bigger issue at moment is I have a crippling ongoing problem which eats up a huge amount of my monthly income and which I need to get under control before I can focus on my pension. I’m aiming to move away from where I live currently to break the cycle.
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Nov 2020
10:25am, 24 Nov 2020
18,219 posts
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Bazoaxe
That’s a good point on contracting out impact on state pension. In addition my final salary has a reduction factor applied at state pension age so I don’t get my company plus state pension but somewhere in the middle. There is an actuarial calculation for the number.
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Nov 2020
10:28am, 24 Nov 2020
20,522 posts
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EvilPixie
I contracted out of SERPS in the early 90s when I set up my private pension but the link said FULL is that because I had my pension?
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Jigs 