Ive been checking my state pension entitlement but despite the explanations on the government website I still don’t understand the implications of having been contracted out in the past.
My forecast says that in 4 years, I will have accumulated my full NI contributions for a full state pension, which it shows as a forecast of £185.15 a week. I’m 52, so will be working more years than that. But it says that I have been contracted out in the past (was in a final salary work scheme for a while) and my ‘COPE’ value is about £34 a week.
Does that mean I will get my state pension amount minus the COPE amount, so forecast of about £150, or get the full state pension amount of £185.15 (forecast) regardless? The government info seems to say both of these things at the same time!