State Pension Forecast

Silvertabby

SMcGill wrote: »

That article link spooked me somewhat so I hope you don’t mind me jumping on this thread to ask a quick question.

I received a SP forecast in April 2016 which gave £132 in SP and £43 in COPE.
I’ve just received an updated forecast giving £162 in SP and £45 in COPE.
I’m still working and DWP have said I will get full SP if I make 2 more years NI contributions.

Does that all sound about right? It seems quite a leap in SP. That may be the new rules but if it looks odd to those who understand these matters then perhaps I should get back onto DWP.

Forget the COPE.

Your foundation amount pension as at April 2016 was £132. NI conts for 2016/17, 2017/18 and 2018/19 would take you up to (roughly) £145. Another 2 years would take you up to (roughly) £154.

So, yes, that jump to £162 does look a bit high - I would check it now rather than leave it to the bitter end.

drumtochty

The poster did not give us the dates of his various state penion forecasts. That can mean our assumptions are wrong about the largeish increase in his state pension over the past few years.

drumtochty

SMcGill wrote: »

That article link spooked me somewhat so I hope you don’t mind me jumping on this thread to ask a quick question.

I received a SP forecast in April 2016 which gave £132 in SP and £43 in COPE.
I’ve just received an updated forecast giving £162 in SP and £45 in COPE.
I’m still working and DWP have said I will get full SP if I make 2 more years NI contributions.

Does that all sound about right? It seems quite a leap in SP. That may be the new rules but if it looks odd to those who understand these matters then perhaps I should get back onto DWP.

SMcGill


Please post the actual dates of the your state pension forecasts.


I have the feeling your April 2016 forecast has not included your NI contributions up to April 5th 2016 and are based on your NI up to 5 April 2015.


We need the actual dates of both forecasts.

capital0ne

My forecast from a few years ago, just after the start of the new flat rate state pension was 100% accurate and I had a good 20+years contracted out. And my sp was only a few pounds sshort of the max, right now I get £166/wk

drumtochty

capital0ne wrote: »

My forecast from a few years ago, just after the start of the new flat rate state pension was 100% accurate and I had a good 20+years contracted out. And my sp was only a few pounds sshort of the max, right now I get £166/wk

At Spring 2016 how many years NI contributions did you have and were you still in a contracted in pension April 2015 to Apeil 2016. If so, there would be no increase in Second State Pension in that last year and that could make a year old NI record in your state pension forecast accurate if you had enough qualifying years.