A woman who never had a job but stayed at home bringing up her children has a husband who worked massive amounts of overtime to boost their income.
Now both retired and on state pensions, he gets about £300 more than her.
Is her pension boosted in any way because of the contributions he paid or does she just get a basic flat rate pension?
Received a letter yesterday from DWP, telling me my monthly benefit was going up to to £830 approx. That will be the 'benefit' I paid NI for,
for at least 40 years. Thank goodness for an additional private pension and some income from property rentals, don't know how people can survive on that sort of benefit, I really don't.
Whilst I'd agree some pay in little or nothing and take out a lot, even someone who's paid in a lot gets a fairly generous payout. in your case it's not a bad deal at all .
Rough calculation all at present day values.
Pension received: £830 a month x 12 months pa x 25 years= £249000
Payments in based on £40000pa salary, 10% NI and 40 years = £160000