Teacher Pension PLUS state pension?

[starchildmum]

Hello

I was wondering if I will get teachers pension AND state pension?

My state pension forecast estimates currently £99 per week on the government website. I have paid NI contributions for many years.

For my teachers Pension, I had opted out for some years, but opted back in and currently accumulated £ 3000 annually ( around £ 2000 from the previous final salary scheme and 1000 from the average salary scheme)

Does that mean my annual 99£ x 52 week will be 5148 PLUS 3000 annually ( if I stopped working now without any additional built up?)

Thank you!

My state pension is definitely reduced due to contracting out unfortunately. Having worked in the public sector for most of my working life and finishing before 60, there's no way I could get to 35 years of full contributions, despite having worked for nearly 40 years. I was contracted out for so much of it. I'm £20 a week short.

In theory though, the NI reduction you were given by contracting out (which went into your company pension) should more than make up that £20 a week.

Oh absolutely. Just wanted to point out that, depending on when you stop employment, there might be an impact on the state pension if you contracted out. Many people don't seem to realise this.

This is a great thread and reminds me I have pretty shamefully poor idea of my own pension situation. Even basic stuff like lump sums and indeed whether I ‘opted out’ of something many years ago to do with a mortgage. I spend more time eg choosing between olive oils or printers than sorting out my future security. What the f is that all about ?
Going to diarise this. Before end of April.

Security should have been ‘security’ I think/fear.

I have 44 years full NI record. No gaps apart from university.But because of being contracted out as a teacher I still need to buy 2 more years of NI to get the full state pension,which I am doing. 35 years isn't necessarily the magic number for public sector workers.

The government claimed they'd simplified the system for everyone in 2016 but many people don't realise that they won't be entitled to the full amount without acting.

As I understand it, under the old rules if you were contracted out for all your working life then you got a significantly lower state pension - currently £134pw. So for those of us who got loads of NI credits under the old rules and now need more than 35 to get the full state pension, it’s really not a bad deal as by working a little bit longer we can qualify for the full £175pw.

If you can afford it, a alternative to working the extra years is to buy them. They cost about £800 and each bought year increases your pension by just short of £5 a week.

You need to live for at least three years after you start taking your pension to make it worthwhile.

an alternative