I have read various posts on calculating pension and the option of deferring but I am not entirely sure if this is of benefit or even how much I will get in my contributory pension.
I am a pre 95 public sector, retired and currently getting the over 65 payment. I need to apply for my pension as I will be 66 just before Christmas of this year ( I know I should have done this months ago)
My social insurance record shows 20 A for 1980/81, 52 for each year after that until 1989/90 inclusive. Then in 1990/91 there are 49 A and 3D. The D stamps continue until 2021. I retired in 2022 and have 51 D plus 1A stamp for that year
Thanks to reading posts here I secured one weeks work at the end of 2022 to enable me to change my stamp to A and I continued to work part time for 13 weeks in 2023 to earn A plus qualify for the over 65's payment. My statement also shows M stamps for 2023 to 2025 from my public service pension.
In total, up to the end of 2025, I have 694 combined reckonable and credited contributions.
Is it likely I will get pre-entry credits for 1980 back to April of that year?
Will 2021 and 2022 be converted to A stamps based on the 1xA stamp at the end of 2022?
I think I will be in band 15-19 under the averaging system.
I realise I cannot get the full contributory pension and I am not sure if I should defer it until 2027. My understanding is that if I defer until 2027 I get another full year of A stamp but then the averaging/TCP goes from 80/20 to 70/30
As per advice in other threads, I plan to opt for payment via the post office.
Thanks for any advice.
I am a pre 95 public sector, retired and currently getting the over 65 payment. I need to apply for my pension as I will be 66 just before Christmas of this year ( I know I should have done this months ago)
My social insurance record shows 20 A for 1980/81, 52 for each year after that until 1989/90 inclusive. Then in 1990/91 there are 49 A and 3D. The D stamps continue until 2021. I retired in 2022 and have 51 D plus 1A stamp for that year
Thanks to reading posts here I secured one weeks work at the end of 2022 to enable me to change my stamp to A and I continued to work part time for 13 weeks in 2023 to earn A plus qualify for the over 65's payment. My statement also shows M stamps for 2023 to 2025 from my public service pension.
In total, up to the end of 2025, I have 694 combined reckonable and credited contributions.
Is it likely I will get pre-entry credits for 1980 back to April of that year?
Will 2021 and 2022 be converted to A stamps based on the 1xA stamp at the end of 2022?
I think I will be in band 15-19 under the averaging system.
I realise I cannot get the full contributory pension and I am not sure if I should defer it until 2027. My understanding is that if I defer until 2027 I get another full year of A stamp but then the averaging/TCP goes from 80/20 to 70/30
As per advice in other threads, I plan to opt for payment via the post office.
Thanks for any advice.