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State Pension above maximum amount

5 replies

BEL88 · 09/04/2024 09:26

My dads been claiming his state pension for 2 years now, retired at 66. It's going up from 1100 to 1194 every 4 weeks. Does anyone know how he is getting this amount if the maximum as of this month is 221.20 every 4 weeks...(his works out as 298)

I don't think it's the additional state pension as he was born after 1951.

OP posts:
saveforthat · 09/04/2024 09:28

You can get SERPS/Additional State Pension if you were born after 1951. I was and contracted out. He may not have done.

Lifestooshort71 · 09/04/2024 09:40

It is a bit confusing but I always go by the letter they send me tbh.

ReignOfError · 09/04/2024 09:44

i get extra too. It’s called a protected payment, and is because we paid into SERPS/additional state pension scheme, and those payments are used to calculate the starting amount of the new pension. Essentially, it’s to ensure that the new state pension won’t be lower than the amount he’d have got under the old scheme from the basic and additional pensions. The extra amount is also subject to the triple lock.

Bromptotoo · 09/04/2024 09:46

The current max as publicised is that for the 'new' pension paid from around 2016.

Prior to 2016, going back many years, there were facilities to pay into a second state pension. They went by several different names including SERPS. If you paid into those, rather than or perhaps as well as, an employer's scheme your award can be quite a bit more the £218.15 or whatever that's been in the news.

His award letter will show how the weekly amount is made up.

Brahumbug · 12/04/2024 18:19

As others have said, it is a protected payment. When the new scheme started in 2016, the DWP worked out what you would have got under the old scheme as a starting amount. If that is more than the new max then it becomes a protected payment. Many people get more than the current new maximum pension.

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