Pension Forecast, Layout Tweaked?

Secret2ndAccount

Do I have brain fade, or have they made some changes to the format of the pension forecast on gov.uk?



It still leaves the potential number in bigger text than the current actual number, which is what I would have changed. If they just took away the forecast from the big box at the top, and let the two little bar graphs do the talking, I think it would be better.

Dazed_and_C0nfused

100% agree.

The number of posters on here who clearly haven't made it past the first figure never ceases to surprise!

mark55man

Interesting - will go an have a look

joep2

Yes, the top banner is indeed misleading when the fineprint says you have to contribute for four more years (i.e. excluding 2021/22 contributions which are yet to be factored in).

Thrugelmir

Read the full page and seems totally self explantory. 

jem16

Secret2ndAccount said:

Do I have brain fade, or have they made some changes to the format of the pension forecast on gov.uk?



It still leaves the potential number in bigger text than the current actual number, which is what I would have changed. If they just took away the forecast from the big box at the top, and let the two little bar graphs do the talking, I think it would be better.

There hasn’t been any changes for a few years now. I agree that it might be better to have the top figure based on what you have so far and then underneath what you could get with more contributions. 

It’s easy enough to understand just by reading the whole forecast but I’ve come across so many who don’t read past the top headline figure. Then they get a shock when they don’t get it at SPA because they didn’t contribute further. 

What they should get rid of is the monthly figure as no-one is ever paid monthly. That should be replaced by the 4 weekly amount. 

RG2015

They should also show the annual figure as weekly x 52, not weekly / 7 x 365.25

This is every bit as incorrect as the monthly figure (their annual figure / 12)

youth_leader

I was on a Women Against State Pension Inequality fb page earlier and they recommended we print out our forecast.  I was surprised at the very large format too, especially as I don't get that!  I need to pay for two more years but at least I've had the 3.1% rise. 

jem16

youth_leader said:

I was on a Women Against State Pension Inequality fb page earlier and they recommended we print out our forecast.  I was surprised at the very large format too, especially as I don't get that!  I need to pay for two more years but at least I've had the 3.1% rise. 

Understanding your forecast will be far more useful than printing it out so hopefully you're not taking advice from any of the campaign groups as most haven't a clue.

The reasons for getting less than the full new state pension are usually quite straightforward. Either you reached SPA before 6th April 2016 or if after you were contracted out so paid less NI and therefore did not pay into the state earnings related pension. If this is the case then paying for years 2016 onwards will increase your pension. With payback time in less than 4 years it's well worth it.

Bimbly

What they should get rid of is the monthly figure as no-one is ever paid monthly. That should be replaced by the 4 weekly amount. 

The monthly figure helps people compare it with their monthly salary. But I agree that it's confusing.