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State pensioners set for nasty shock – you may not get full amount at retirement


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State pensioners set for nasty shock –...

Contracted out

Certain working individuals may have been “contracted out” of the state pension.

This means they may have paid lower NI contributions to pay into an earnings-related, workplace, personal or stakeholder pension in the past.

The Government states a person’s starting amount may include a deduction in these circumstances.

Britons can check their old payslips or with their pension provider to see if they were contracted out in the past. 

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BRITONS could be set for a nasty shock at retirement, as many may not be entitled to the full state pension sum.

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