Strange But Why A Penny Short on Pension Forecast?

invisible_member
Forumite Posts: 14
Forumite

Hi,
Nothing too serious but cannot understand why my pension forecast for September 2023 with 35 years contributions would be one penny a week short (£815.36 every 4 weeks)?
Not going to make any financial difference obviously but just a bit bewildered by it, not enough to be on phone for an hour or so to find out, so if anyone has any clues I would be interested?
Many thanks
Nothing too serious but cannot understand why my pension forecast for September 2023 with 35 years contributions would be one penny a week short (£815.36 every 4 weeks)?
Not going to make any financial difference obviously but just a bit bewildered by it, not enough to be on phone for an hour or so to find out, so if anyone has any clues I would be interested?
Many thanks
0
Comments
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Could just be that your starting amount in 2016, plus any years added since then, happen to end up 1p short. If the starting amounts are essentially random because of different contracted-out deductions, some people will end up a few pence short ( or in your case, 1p ).0
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af1963 said:Could just be that your starting amount in 2016, plus any years added since then, happen to end up 1p short. If the starting amounts are essentially random because of different contracted-out deductions, some people will end up a few pence short ( or in your case, 1p ).1
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invisible_member said:Hi,
Nothing too serious but cannot understand why my pension forecast for September 2023 with 35 years contributions would be one penny a week short (£815.36 every 4 weeks)?
Not going to make any financial difference obviously but just a bit bewildered by it, not enough to be on phone for an hour or so to find out, so if anyone has any clues I would be interested?
Many thanks0 -
Dazed_and_C0nfused said:invisible_member said:Hi,
Nothing too serious but cannot understand why my pension forecast for September 2023 with 35 years contributions would be one penny a week short (£815.36 every 4 weeks)?
Not going to make any financial difference obviously but just a bit bewildered by it, not enough to be on phone for an hour or so to find out, so if anyone has any clues I would be interested?
Many thanks0 -
invisible_member said:Dazed_and_C0nfused said:invisible_member said:Hi,
Nothing too serious but cannot understand why my pension forecast for September 2023 with 35 years contributions would be one penny a week short (£815.36 every 4 weeks)?
Not going to make any financial difference obviously but just a bit bewildered by it, not enough to be on phone for an hour or so to find out, so if anyone has any clues I would be interested?
Many thanks2 -
The final year I had to pay to reach the maximum only added 38p.
At least once you're claiming it you'll be able to tell your grand kids that back in the day you had to graft a full year and only earned a penny a year pension for it.1 -
A penny is something I wouldn't have even noticed.0
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invisible_member said:Dazed_and_C0nfused said:invisible_member said:Hi,
Nothing too serious but cannot understand why my pension forecast for September 2023 with 35 years contributions would be one penny a week short (£815.36 every 4 weeks)?
Not going to make any financial difference obviously but just a bit bewildered by it, not enough to be on phone for an hour or so to find out, so if anyone has any clues I would be interested?
Many thanks0 -
Sounds fine. I am currently 22p short of the maximum with 39 years of contributions and potentially another 12 years to go till I get to 67.0
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