Breakdown of State Pension payments?

fly-catchers

The State Pension amount I will receive from next year is £203.40 a week paid as £813.60 every 4 weeks. Over 52 weeks I work that to be £10576.80 a year. But the forecast on the government web site said £10613.05. And showed the monthly amount as £884.42. So does the odd £37 get added at some point? Or have I missed something?  

Torry_Quine

You will have 13 payments not 12 

QrizB

fly-catchers said:

Or have I missed something?  

The year is not 52 weeks, it's 52 weeks 1 day and about 6 hrs.

Richard1212

The current BASIC State Pension ( ie 2023/4) is £203.85 per week ( depending on NI contributions and at what date you reach pension age) 

If you're talking about the State Pension from April 2024 to April 2025, as I assume you are, then NOBODY knows what the figures will be, simply because the Prime Minister has said ( as recently as yesterday) that the Govt has not made a decision yet about whether to keep the triple lock in place for the 2024/5 State Pension, or make it a double-lock, or make it something in between ( a figure of 7.8% is the current favourite guess).So I wouldn't bother wondering about your £37 discrepancy until you know what the State Pension for next year is going to be, which is likely to be known in November 22's autumn statement in the House of Commons.

p00hsticks

fly-catchers said:

Or have I missed something?  

That one year is not exactly 52 weeks ? 
The difference between the 52 week figure (£10,576.80) and the annual one (£10,613.05) is £36.25, which by my reckoning allows for an extra 1.25 days in a year compared with 52 weeks (averaging over four years to take account of a leap year) 

xylophone

The current BASIC State Pension ( ie 2023/4) is £203.85 per week ( depending on NI contributions and at what date you reach pension age) 

No - the current full New State Pension (23/24) is £203.85 a week.

https://www.gov.uk/new-state-pension/what-youll-get

The current full Basic State Pensions is  £156.20 a week.

https://www.gov.uk/state-pension/how-much-you-get

Silvertabby

xylophone said:

The current BASIC State Pension ( ie 2023/4) is £203.85 per week ( depending on NI contributions and at what date you reach pension age) 

No - the current full New State Pension (23/24) is £203.85 a week.

https://www.gov.uk/new-state-pension/what-youll-get

The current full Basic State Pensions is  £156.20 a week.

https://www.gov.uk/state-pension/how-much-you-get

That is the root of so much misunderstanding and angst about the new State Pension (nSP) - this mistaken belief that it is the new Basic Pension, when it is nothing of the sort.

The_Green_Hornet

fly-catchers said:

The State Pension amount I will receive from next year is £203.40 a week paid as £813.60 every 4 weeks. Over 52 weeks I work that to be £10576.80 a year. But the forecast on the government web site said £10613.05. And showed the monthly amount as £884.42. So does the odd £37 get added at some point? Or have I missed something?  

The annual figure is derived by dividing the weekly figure by 7 and then multiplying by 365.25. That figure is then divided by 12 to get the monthly one. They calculate it that way so they don't have to worry about leap years.