Future State Pension Calculator

xylophone

There's a few questions I must ask here...

In your previous post you said

I'll add.... I've got 38 full years prior to 6 April 2016 and 4 full years including the current year (20-21) but I have a part year which I could top-up cheaply if necessary.

If at 6/4/16 you already had at least 35 years NI and your "starting amount" was greater than a full new state pension, post 2016 years would not improve your forecast any more (even though you would still have to pay NI if you were earning the relevant amount and were under State Pension Age).

pigollo

Thank you for all the comments everyone.
This is the description on my forecast which I think is very confusing. It's saying the forecast isn't guaranteed but describes the maximum which cannot be improved. I assumed it meant I'd have to carry on working to receive it

YOUR FORECAST IS NOT A GUARANTEE AND IS BASED ON THE CURRENT LAW
DOES NOT INCLUDE ANY INCREASE DUE TO INFLATION
£184.19 IS THE MOST YOU CAN GET
YOU CANNOT IMPROVE YOUR FORECAST ANY MORE

molerat

pigollo said:

Thank you for all the comments everyone.
This is the description on my forecast which I think is very confusing. It's saying the forecast isn't guaranteed but describes the maximum which cannot be improved. I assumed it meant I'd have to carry on working to receive it

YOUR FORECAST IS NOT A GUARANTEE AND IS BASED ON THE CURRENT LAW
DOES NOT INCLUDE ANY INCREASE DUE TO INFLATION
£184.19 IS THE MOST YOU CAN GET
YOU CANNOT IMPROVE YOUR FORECAST ANY MORE

The forecast isn't guaranteed in as much it is based on the current law and they re calculate at retirement so subject to law changes or someone somewhere along the line making  a mistake inputting data.  Both of those scenarios are generally unlikely so that is pretty much certain what you will get.  If you needed to do anything to reach that amount the forecast tells you.

xylophone

YOUR FORECAST IS NOT A GUARANTEE AND IS BASED ON THE CURRENT LAW
DOES NOT INCLUDE ANY INCREASE DUE TO INFLATION
£184.19 IS THE MOST YOU CAN GET
YOU CANNOT IMPROVE YOUR FORECAST ANY MORE

The amount equal to a full NSP  revalues (currently) under the "triple lock" while the balance  (your "protected payment" revalues (currently) by September CPI in the year preceding the new tax year.

https://www.gov.uk/new-state-pension/how-its-calculated

The prediction game.....
https://www.ifs.org.uk/publications/15132