Pension Forcast

OliverLacon

My wife is 64 and has not worked or received benefits since October 2020. Shas obtained a State Pension forecast (dated 16/9/2024). It says:
Your forecast is  £221.20 a week. This is the most you can get.
You will reach State pension age on 6/7/2027.

My question is, does the forecast assume that she will pay NI from now until 2027?

Sam_666

No. She has already reached most she can get.

OliverLacon

Sam_666 said:

No. She has already reached most she can get.

Do you mean she has enough NI years already (to get the full pension) and the Pension Service  are not assuming that there will be another two or three years worth of NI (i.e. from the date of the forecast to the date of retirement)

Sarahspangles

These are the precise words you need to see if the maximum pension has been achieved.

£221.20 is the most you can get
You cannot improve your forecast any more.

OliverLacon

Thanks both.
I wish the Pension Service would make that clear on their forecast. Something like "You have already made sufficient NI contributions for the full pension of £221.20. This is the most you can get"

eskbanker

OliverLacon said:

Thanks both.
I wish the Pension Service would make that clear on their forecast. Something like "You have already made sufficient NI contributions for the full pension of £221.20. This is the most you can get"

The wording needs to be generic enough to handle a variety of situations, so it's not as simple as expressing everything in the context of the full new state pension, hence they state what's been 'earned' to date together with a forecast of what can be achieved, and use the important words about not being able to improve it if they're the same thing.

molerat

eskbanker said:

OliverLacon said:

Thanks both.
I wish the Pension Service would make that clear on their forecast. Something like "You have already made sufficient NI contributions for the full pension of £221.20. This is the most you can get"

The wording needs to be generic enough to handle a variety of situations, so it's not as simple as expressing everything in the context of the full new state pension, hence they state what's been 'earned' to date together with a forecast of what can be achieved, and use the important words about not being able to improve it if they're the same thing.

They made an attempt a few weeks back but made such a hash of it they had to go back to the old way