Max state pension still £175.20?

Stubod

Hi all, every year we get an updated SP forecast. Just got one for last year (2020), and it is still showing the maximum we can get is £175.20 which is the same amount as the previous year (2019).

Just wondering why it has remained the same as I would have expected it to go up by whatever the inflation rate / triple lock factor is?

JGB1955

The new state pension was £164.35 in 2018/19, £168.60 for 2019/20 and went up to £175.20 for 2020/21.
Benefit and pension rates 2020 to 2021 - GOV.UK (www.gov.uk)

It will be £179.60 for 2021/22 (2.5% increase).

Dazed_and_C0nfused

Stubod said:

Hi all, every year we get an updated SP forecast. Just got one for last year (2020), and it is still showing the maximum we can get is £175.20 which is the same amount as the previous year (2019).

Just wondering why it has remained the same as I would have expected it to go up by whatever the inflation rate / triple lock factor is?

The £175.20 strictly only applies to those fully under the new rules i.e. youngsters.
Most people are under transitional rules which mean it can be more than £175.20.
You would need to post details of your full forecast, not just the headline figure, for anyone to understand what is happening.

But can you clarify, do you definitely mean that in 2019 your forecast was £175.20 i.e. either £10.85 or  £6.60 more that the standard at that time or could you have  originally seen the £175.20 in say April 2020?

Stubod

Thanks for the replies, it looks like it was due to the actual dates when I requested the forecasts, (the date on the forecast states "up to 5th April 2019, and the following year "up to 5th April 2020".... and yes fully aware that we won't get the "headline rate"...

Dazed_and_C0nfused

Viewing them on your Personal Tax Account is very simple to do and you will be able to see the new rate shortly after 5 April each year.

And it will also reflect any additional qualifying year(s) in due course.