I have posted this on legal - thought I had the answer and then was confused again.
My husband has been made to retire. He has a works pension which is £10,500 before tax. Its inflation linked but thats what it is now.
He also had a lump sum which is in a fixed rate bond and gets him another £200 a month income.
He is 61. He will be officially retired in 2015. He has worked for forty two years ( or maybe more). What state pension will he get ( at today's values will be fine)?
Will he be means tested on that state pension because he has his works pension?
I am five years younger than husband and I am not sure what my state pension is likely to be ( I am caught up in all those changes they made). My state pension will not come in until I am 66 and a bit ( apparently its May 2020 although I was born in April 1955).
I do not have a works pension - bitty employment record and part time working. I have no children. I do have a lot of money in inheritance and savings ( just so that all is clear. I am not sure it is relevant) .
We own our house , no mortgage.
a) will I be able to get a state pension from my husbands contributions as I was originally told or will it all be on my own NI contributions?
b) If I lose my job before or at 60 ( could happen) will husband get any payment for keeping me or will he just get a single mans allowance?
c) If I do make 30 years NI ( either by paying extra in or working) what is my state pension likely to be? DWP are not giving this information to my age group at present so I have to ask elsewhere - like here.
Is it going to be means tested ? will my savings ( the inheritances I have ) affect my state pension?
I just want to know how much I am likely to have to retire on with OH pension and myself.
Thanks for any help on this.