Online State Pension Forecast

DoryDory · 20 October 2022 at 4:24PM

Hi Folks

Has anyone noticed their online State Pension Forecast has reduced recently?

Historically mine has increased annually as one would expect yet at the last log in it has been reduced significantly, lower than forecast at June 2021.

It would be interesting to know if anyone has noticed anything similar before I query.

Thanks in advance.

molerat · 20 October 2022 at 4:33PM

Have you been making contributions ?

The headline forecast can reduce if your current amount accrued plus the years going forward are not enough to to fill the gap made by a missing year. One of the further amounts shown should make up for that though.

What exactly does your forecast show - not just the top line figure ?

Audaxer · 20 October 2022 at 5:02PM

I'm current paying Voluntary Contributions, and last year my forecast showed less in November than it did in May, because I had another year of Voluntary NI still to pay. The main thing was my Estimate figure was the same, which is the amount I would get if I didn't pay any more voluntary NI. Therefore, although your forecast may have reduced temporarily, your Estimate figure, which will show on your forecast, should I think be the same as the Estimate figure that was on your June 2021 forecast.

DoryDory · 20 October 2022 at 6:22PM

Thanks for your input M&A

I have 4 years not full and 3 yrs still to go, with 43 yrs of full contributions.

I have not made any voluntary contributions this year nor in previous years yet this is the first time I have noticed the 2nd line estimated figure reduce.

estimate based on NI record up to 5th April 2021 (2021-2022 record not yet available)

I have been monitoring twice yearly since Jan 2020 and wondered - with such turmoil in the world - whether any reduction is to be expected rather than a potential admin error which may need addressing sooner rather than later.