New State Pension

Um4

I retire this year and have received the letter from DWP saying how much I'll get.  It's about £20 a week more than the 2025-26 figure of £230.25.  Does anyone have an obvious answer why?

I haven't deferred and I understand than any extra from SERPS is lost because the new pension is much higher than the old.  Thanks and apologies if it's been asked before.

DRS1

Not all of the SERPS has been lost.  There are posts on here explaining the ins and outs of the calculation where you cross over between the old and new state pension and in some cases you have a bigger starting point under the old version which is protected.

Be aware the protected bit won't get the triple lock increases in future years (at least I don't think so).

DRS1

Here is one thread.  The last post from @xylophone explains it.

State Pension. Protected Payment ? — MoneySavingExpert Forum

molerat

You did not lose anything. At April 2016 your pension entitlement was calculated under both the old and new rules and you received the higher amount. If you have approx £250.25 that meant at April 2016 you had £170.56 under the old rules consisting of £119.30 basic and £51.26 additional pension, which was above the new pension amount of £155.65.  Nothing you have done since April 2016 has added to that amount outside the annual inflationary increases of triple lock on the new full pension amount and CPI on the protected payment above that. 

Um4

Thanks to both of you for the explanations.  Much appreciated.  Kept re-reading the Gov pages but it didn't become clear.