Older And Younger

The examples below will give the right answer only for people who reach pension age between 6 April 2015 and 9 April 2015. Older people will generally get lower additional pensions. The maximum additional pension currently paid to anyone retiring in the years from 2015/80 to date is shown.

Younger people can do the calculation to give them an idea of the additional pension they have already earned.

But they can also now obtain an official forecast of their pension from the DWP. You should get form BR.19 from your local DWP office and send it off or do it online at https://www.gov.uk/workplacepensions/?

If you are not contracted out of the state scheme, the additional pension is paid to you with your basic retirement pension.

If you are contracted out of the state scheme and pay into a private scheme, that scheme must guarantee to give you a pension of at least as much as the additional pension when you retire. This pension they must guarantee is called your guaranteed minimum pension or GMP. (In fact the GMP is calculated slightly differently from the additional pension.

Normally it is exactly the same, but there are circumstances in which it may be slightly more or slightly less.

Your actual pension from your scheme may be more than this GMP when you retire.


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