Clarification needed

casabrisa

My wife will be 60 next July. We have receievd a pension forecast from HM Rev. that she will 26% of the standard basis State Pension. However all of my friends assure me that she will receive more than this, probably in excess of £50 pw based on my stste pension.

Is this true?

margaretclare

She has the option of taking her own state pension at 60 as the forecast shows, OR claiming against your contributions. In the latter case, she has to wait until you become 65 and then she gets 60% of what you'll get. Full pension currently £90.70, 60% of that would be £54.72. But it's an either/or - she has to choose which is more favourable to her. In other words, she can't get her 26% for 5 years and then 60% when you become 65 (I'm assuming you're both the same age now). She has to choose.

HTH