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Is the future pension forecast calculator on gov.uk reliable?
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The ASP can be worked out by taking the current April 2024 amount, removing the post 2016 years and stripping out the annual increases leaving the April 2016 starting amount. You then deduct the old basic pension amount which leaves the ASP. It does not always work, if the calculation proves the starting amount is not new rules then all good but if the calculation is new rules you cannot work out the ASP but know it is not greater than £xx.xx. Knowing which calculation is being used is only of any use for deciding if pre 2016 years are viable, in your case you already have 35 so they are off the table anyway. What is your April 2024 amount ?0
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thanks for that molerat, I was trying to work up, hadn't thought about working it back the way
£177.68 is my current estimate
22: 3🏅 4⭐ 23: 5🏅 6 ⭐ 24 1🏅 2⭐ 25 🏅 🥈 Never save something for a special occasion. Every day is a special occasion. The diff between what you were yesterday and what you will be tomorrow is what you do today Well organised clutter is still clutter - Joshua Becker If you aren't already using something you won't start using it more by shoving it in a cupboard- AJMoney The barrier standing between you & what youre truly capable of isnt lack of info, ideas or techniques. The secret is 'do it'0 -
A contracted in or out year is the same thing as far as basic pension is concerned so forget about "mix" years, you just count the number of years.£177.68 today is £125.06 at 2016 so £119.30 + £5.76 ASP.1
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Thank you molerat really appreciate you sharing your knowledge and I love being able to understand this better
Daisy xx22: 3🏅 4⭐ 23: 5🏅 6 ⭐ 24 1🏅 2⭐ 25 🏅 🥈 Never save something for a special occasion. Every day is a special occasion. The diff between what you were yesterday and what you will be tomorrow is what you do today Well organised clutter is still clutter - Joshua Becker If you aren't already using something you won't start using it more by shoving it in a cupboard- AJMoney The barrier standing between you & what youre truly capable of isnt lack of info, ideas or techniques. The secret is 'do it'0 -
Thanks once again for everyone's contribution. I like the way you put it daisy and it was also my concern that I could not just rely on the website nor the department when they sent a paper version a few years ago.1
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Running your (@daisy_1571) figures through my starting amount calculator gives additional pension of £5.73pw which agrees molerat's figure (ignoring rounding). That's assuming you have no post 2016 qualifying years.
I came, I saw, I melted0
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