State Pension Forecast

welshgasman

Seems the State Pension Forecast can be a load of rubbish for some people.?

https://www.dailymail.co.uk/money/pensions/article-6954755/Saver-gets-state-pension-forecast-35-week-due.html

Because of that article, I contacted them today as I was told I would get a full state pension using that forecast page. Seems I am in the same boat as that poor woman.
DWP are blaming the HMRC for not supplying the correct data for me.

So anyone else in this position might want to double check.
In my case I was contracted out for a few years. If that is the case the pension forecast *should* make some mention of it on the page. Mine did not.?

https://www.gov.uk/check-state-pension

GibbsRule_No3.

Mine now only gives the 2018 and 2019 forecasts and that I get £152.37 from March 2020 and it is the most I can get. No mention now of the COPE that stops me getting the “full” state pension. Luckily I had been looking for awhile.

eastcorkram

I've never believed the forecast figure for me. It might be right. It might not be. I'm not going to find out until I get to 66.

drumtochty

Are you advising there was no COPE value in the pension statement.


It is possible to have say 10 years as a low earner say £8,000 a year as contracted out years with the local council say job sharing at a clerical level, and say 30 years non contracted out at that kind of salary contracted in plus say a few years post 2016 and be on the full flat rate pension or above.


What age are you , how many years have you worked and been credited with NI contributions in total and how many years were contacted out for.


One issue can be that the people you speak to at the DWP helpline can be a supervisor that knows there stuff or a well meaning telephone answerer that is not that well versed in the system.


It is possible if you know the years you have NI credits, and the years contracted in or out to get kind of close to a pendion forecast.

drumtochty

GibbsRule_No3. wrote: »

Mine now only gives the 2018 and 2019 forecasts and that I get £152.37 from March 2020 and it is the most I can get. No mention now of the COPE that stops me getting the “full” state pension. Luckily I had been looking for awhile.

Your phrasing here is incorrect, you can get a full flat rate pension even you have some years contracted out and have a COPE value in the statement, if you work contracted in for a lot of years pre 2016 and post 2016.


The only reason I can see that you do not get the full flat rate pension is if you worked abroad for a good number of years or for instance you were in the UK for a number of years not working or earning below the lower earnings limit.

waveydavey48

Thanks for posting this Welshgasman. I have checked and my COPE is £57.15. I assume my state pension when I get it will be the full amount of £168.60 less my COPE of £57.15, though that may increase if I pay further NI contributions. I think the government website is ambiguous. My forecast says

"Your COPE estimate is£57.15 a week.

This will not affect your State Pension forecast. The COPE amount is paid as part of your other pension schemes, not by the government." ,

I tried ringing them to clarify but gave up after getting sick of their hold music.

lisyloo

No, the COPE amount will not get deducted.
It’s a forecast of what your private will pay for the contracted out money you took

GibbsRule_No3.

I have 48 full years (it is actually now 49 since the data mentions needing to work up to 5 April 2019 that date now past, despite looking today 29 April) The next 11 months does not add to the SP because it kicks in March 2020. In the past COPE was listed. I know I have COPE because I was contracted out but have worked since April 2016 so have received years added. It does mention I won’t need to pay NI after March 2020. If anyone had not looked before, as I had, they might be wondering why they were not getting the often press mentioned “full” new State Pension. I know I am benefiting, before someone points it out ��

System

Mine isn't until 2055 but it says ive got 16 full years contributed (since i was 15) ive always worked PAYE so im thinking it should be correct. There probably wont even be a state pension by then anyway.

peter_the_piper

We sent off for a "Future Pension" statement as the forecast seems to be "flexible" and its very confusing if the OH needs to pay what to bring her up to the full pension. Just waiting for the result.

drumtochty

GibbsRule_No3. wrote: »

I have 48 full years (it is actually now 49 since the data mentions needing to work up to 5 April 2019 that date now past, despite looking today 29 April) The next 11 months does not add to the SP because it kicks in March 2020. In the past COPE was listed. I know I have COPE because I was contracted out but have worked since April 2016 so have received years added. It does mention I won’t need to pay NI after March 2020. If anyone had not looked before, as I had, they might be wondering why they were not getting the often press mentioned “full” new State Pension. I know I am benefiting, before someone points it out ��

Yes,


Your reply suggests a reasonable number of years contracted out of SERPS/ Second State Pension, and you are agreeing that the reducetion in the State Pension is replaced with funds from your occupational pension.