State pension warning as sum could be affected if you had a workplace or personal pension | Personal Finance | Finance
State pension payments are vital to millions, and getting the highest amount possible will be the aim of many Britons. However, rules surrounding the state pension may mean individuals see their sum affected by virtue of membership of certain pension schemes.
The Government has confirmed those in particular pension schemes could see their state pension “starting amount” impacted.
This is applicable for those in certain:
- Earnings-related pension schemes at work before April 6, 2016
- Workplace, personal or stakeholder pensions before April 6, 2012.
Individuals who were part of these schemes may have paid lower National Insurance contributions.
Instead, they could have been paying into one of these pensions.
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Once again, those with different letters should either contact their pension provider or their employer.
People in certain professions are also more likely to have been contracted out, the Government has stated.
Primarily, this is individuals who worked in the public sector, for example:
- The NHS
- Local councils
- Fire services
- The civil service
- Teaching
- Police forces
- The armed forces
