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COPE pension

8 replies

gettingolderbutcooler · 27/03/2024 20:43

Hi
When I look at my state pension forecast, it also includes a COPE estimate of about £40 a week (woo hoo....🤪).
Will this be paid ON TOP of my £203.85 a week?
Is it from a company I have worked for in the past? I've been a nurse for most of my working life but have had odd jobs for a year or two.
Will I have to contact this unknown company myself? I have no idea what job it could be from.
Thanks x

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gettingolderbutcooler · 27/03/2024 22:08

Thanks @nearlynorthern17 I read that but I'm still unclear. And I did the pension tracking part but couldn't find the company as I don't know the name.
And it's unclear if they will pay me that on top of my state one?

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Brahumbug · 28/03/2024 07:12

No, the cope amount is not paid as a separate amount, it is included in your workplace pension. It is an illustration of what you would have earned as extra pension if you had not been contracted out. Under the new scheme £203 is the most you can get from the state pension unless you are in the traditional arrangements.

gettingolderbutcooler · 28/03/2024 08:13

@Brahumbug
Thanks- I know it isn't paid by government but is it an extra payment that I will be paid by the workplace (whatever it was) pension?
Thanks

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ChessieFL · 28/03/2024 10:52

If you’re a nurse are you in the NHS Pension Scheme? If so it’s almost certainly that. It won’t be paid on top of your NHS pension, it’s just a minimum that they must make sure they’re paying you in respect of the period you were contracted out. As long as they’re paying you at least that amount (and they almost certainly will be) then they won’t pay you anything extra.

Chewbecca · 28/03/2024 10:55

You won't get it, no, it's effectively part of your NHS pension.

This is a fairly clear explanation pinned on the MSE pension forum:

forums.moneysavingexpert.com/discussion/6445947/good-and-short-explanation-of-cope

Brahumbug · 28/03/2024 11:12

Chessiefl and chewbacca have beaten me to it. You won't get it as an extra, it is just part of your workplace pension. How long do you have to go to reach state pension age?

gettingolderbutcooler · 29/03/2024 09:12

Sorry- been working.
I have actually retired early (age 55) and get my Nhs pension.
But I re-started work on 2 days a week.
I really thought that the £40 weekly COPE was going to be on top of my state pension at age 67.
Never mind.
Thank you all!
😞

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