Coming up to retirement age

Petula

OH will be 66 in the Autumn, not sure if retirement is on the cards then or not but we checked to see what his forecast was.  It states that his forecast is £238 pw - we thought the highest he could receive was £221.20?  If he continues to work for a year or two will it go up even more?  We're newbies if you couldn't tell 😁

Dazed_and_C0nfused

Petula said:

OH will be 66 in the Autumn, not sure if retirement is on the cards then or not but we checked to see what his forecast was.  It states that his forecast is £238 pw - we thought the highest he could receive was £221.20?  If he continues to work for a year or two will it go up even more?  We're newbies if you couldn't tell 😁

He is under transitional rules so it's quite possible to have more than £221.20.

But extra qualifying years will not add anything more now.

It will of course increase each April, partly from the triple lock (applied to the first £221.20) and partly from a slightly different increase to the amount above £221.20 

molerat

Petula said:

OH will be 66 in the Autumn, not sure if retirement is on the cards then or not but we checked to see what his forecast was.  It states that his forecast is £238 pw - we thought the highest he could receive was £221.20?  If he continues to work for a year or two will it go up even more?  We're newbies if you couldn't tell 😁

It will go up each year with the inflationary increases, triple lock on the full new pension amount and CPI on the remaining protected amount, but has not increased outside those annual inflation increases since April 2016 where he had around £168.

Petula

Thank you both.  It was confusing to see the estimate at 238 when we thought 221 was the most anyone could get.