State pension forecast check

Notepad_Phil

molerat said:

If not in a contracted out scheme then yeas she will have gained additional pension. 

If she was in a contracted out  final salary scheme there should be a COPE amount and also a reduction in her additional pension and so the current pension amount.  She needs to check if that company scheme was contracted out because if she was these errors do not usually get picked up until claiming state pension when the whole record is checked which leads to a whole lot of pain.

I thought that there had been a big exercise a year or so ago where these records had been checked between the employers/trustees and the hmrc?

xylophone

I thought that there had been a big exercise a year or so ago where these records had been checked between the employers/trustees and the hmrc?

https://www.ft.com/content/bed01ed2-9bf8-11e9-9c06-a4640c9feebb

It is possible that the OP's wife's forecast is correct even if her FS  Pension Scheme  (as was virtually certain) was contracted out,  as she had eleven contracted in years pre 1999 and  between 2002  and 2011 she may have been accruing some more ASP even though contracted out. She was probably contracted in between 2011 and 2016.

If the Scheme was contracted out it is odd that there is no COPE to take account of the  contracted out years.

Notepad_Phil

xylophone said:

I thought that there had been a big exercise a year or so ago where these records had been checked between the employers/trustees and the hmrc?

https://www.ft.com/content/bed01ed2-9bf8-11e9-9c06-a4640c9feebb

Unfortunately that's behind a paywall and there's no cached version. 

Does the article mean that I was right or was my recollection wrong?

xylophone

Does the article mean that I was right or was my recollection wrong?

The article was from mid 2019 - there was a comment from the Pensions Minister that


HMRC records “can never be perfect” and there “will always be a residual level of error in the system”.  

https://www.plsa.co.uk/Policy-and-Research-Defined-Benefit-GMPs   The FAQs may be of interest.