State Pension Again

sgx2000

Please forgive. 
I did a similar post a couple of days ago and thought I had worked it out just by asking the questions on the forum, but now looking at it again.  

My State Pension Forcast  was

£230.24 a week
£1001.18 a month
£12014.12 a year

Either I am being particulary stupid or the maths dont work out.....(be kind..lol)
Yes I know that a year is 52 weeks and a couple of days.....

My Actual State Pension Letter says I will get £921 every 4 weeks....
Which I work out as £11973

Should I query this?

Alexland

£921 divided by 4 weeks divided by 7 days is £32.89 per day

£921 divided by 4 weeks divided by 7 days x 365 days = 12005.89 pa

or in a leap year £921 divided by 4 weeks divided by 7 days x 366 days = 12038.79 pa

so on average over 4 years including 1 leap year £921 divided by 4 weeks divided by 7 days x 365.25 days = 12014.12 pa

In your maths if you have done £921 divided by 4 weeks x 52 weeks = £11973 that ignores the extra days and occasional leap year day.

molerat

Just wait until the tax man gets hold of the figures 

sgx2000

Alexland said:

£921 divided by 4 weeks divided by 7 days is £32.89 per day

£921 divided by 4 weeks divided by 7 days x 365 days = 12005.89 pa

or in a leap year £921 divided by 4 weeks divided by 7 days x 365 days = 12038.79 pa

so on average over 4 years including 1 leap year £921 divided by 4 weeks divided by 7 days x 365.25 days = 12014.12 pa

In your maths you have done £921 divided by 4 weeks x 52 weeks = £11973 which ignores the extra days.

OMG....
Alexland many many thanks....

ClashCityRocker1

I think the actual sum used is the weekly sum divided by 7 and multiplied by 365.25 (for leap year) - puzzled me for a while

sgx2000

Thanks for all the replies.
Surely this must get almost everyone.... lol

I think it didn't help that my birthday, 25th March,  means I get £32.89 on my birthday,.
Then 25th April I get, 11 days at the 25-26 rate, plus 20 days at the 26-27 rate
Then from 25th May I get the 26-27 rate each month....

Again many thanks for the replies

Marcon

sgx2000 said:

Thanks for all the replies.
Surely this must get almost everyone.... lol

I think it didn't help that my birthday, 25th March,  means I get £32.89 on my birthday,.
Then 25th April I get, 11 days at the 25-26 rate, plus 20 days at the 26-27 rate
Then from 25th May I get the 26-27 rate each month....

Again many thanks for the replies

I suspect most people either don't notice, don't know or don't think too hard about it...

sgx2000

Marcon said:

sgx2000 said:

Thanks for all the replies.
Surely this must get almost everyone.... lol

I think it didn't help that my birthday, 25th March,  means I get £32.89 on my birthday,.
Then 25th April I get, 11 days at the 25-26 rate, plus 20 days at the 26-27 rate
Then from 25th May I get the 26-27 rate each month....

Again many thanks for the replies

I suspect most people either don't notice, don't know or don't think too hard about it...

I agree.
When I was still working very few of my colleagues had any idea about pensions...
And even more bizzarrely, didn't care!

eskbanker

sgx2000 said:

Thanks for all the replies.
Surely this must get almost everyone.... lol

I think it didn't help that my birthday, 25th March,  means I get £32.89 on my birthday,.
Then 25th April I get, 11 days at the 25-26 rate, plus 20 days at the 26-27 rate
Then from 25th May I get the 26-27 rate each month....

Again many thanks for the replies

Just to be clear, you don't get monthly payments but four-weekly ones, i.e. 28 days worth....

And hence:

sgx2000 said:

My Actual State Pension Letter says I will get £921 every 4 weeks....