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mistake in pension forecasts...?
building
Posts: 531 Forumite
i have looked into 2 pension forecasts. both had a private pension. one is worth anything from 5K to 9K but only shows an additional state pension of 0.56 pence so far and the other has only £550 in it and the additional state pension says they will get £7.37. either i dont know how to read these forecasts properly or there is a mistake. both people are the same age.
can anyone enlighten me? thanks in advance.
can anyone enlighten me? thanks in advance.
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Comments
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The state pension forecast of AP depends on income, not the value of the actual pension plan. ( I used to claculate pension forecasts)
If one party had a higher income , or was contracted out for less time than the other person the figures will be different.
If you want a print of the figures and calculation used, contact state pension forecasting and ask for an AP/COD calculation.
Providing the letters and calcs are still done manually , you should give some at least a couple of hours of fun ( I really miss writing them :rotfl: )I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0 -
period but the other person may have had a higher income though not 40% tax (i'll find out exact amounts). does this change anything?CIS wrote:The state pension forecast of AP depends on income, not the value of the actual pension plan. ( I used to claculate pension forecasts)
If one party had a higher income , or was contracted out for less time than the other person the figures will be different.
If you want a print of the figures and calculation used, contact state pension forecasting and ask for an AP/COD calculation.
Providing the letters and calcs are still done manually , you should give some at least a couple of hours of fun ( I really miss writing them :rotfl: )0 -
It can do depending on the periods they where contracted out, and whether they have ever had any other pension schemes open. (Any overlaps between schems where a right **** to calculate)
The best thing is to contact Pension Forecasting as I suggest as they'll have all the details.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0 -
thanks again for your helpCIS wrote:It can do depending on the periods they where contracted out, and whether they have ever had any other pension schemes open. (Any overlaps between schems where a right **** to calculate)
The best thing is to contact Pension Forecasting as I suggest as they'll have all the details.0
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