On 19/11/2017 13:57, Mark wrote:
On Sat, 18 Nov 2017 19:32:30 +0000, Andrew
wrote:

On 18/11/2017 17:40, tim... wrote:
No it doesn't

It is a pretence by HMG that it does.

If you retire now and have never been contracted out
and have at least 35 years of full rate NI contribs
then you will get £155 a week. In fact you will get a
lot more than £155 because you will also have serps
entitlements and your benefits will be calculated
under the old and the new schemes and the higher
amount paid.

Only people who have been substantially contracted-out
will get somewhere between £119 and £155.

Does having been "contracted out" affect the basic state pension or
just the SERPS/S2P portion?

If you request a pension forecats (BR19), it will state how many
years of full rate NI and contracted-out years you have accrued.

If there are any contracted-out years then it will clearly state
what the contracted-out-deduction (COD) will be. This will
reduce your basic state pension on the assumption that your
occupational or personal pension will make up (and exceed)
the difference, as well as being paid before SPA.

This has always been the case. It is nothing to do with the
new flat rate pension.