State Pension and tax code 2026/27

eastcorkram

Does everyone get a letter about how much state pension you'll get? I'm already in receipt of it, but 26/27 will be my first full year. I haven't had any letters about it, but my tax code on DB pension has changed to K37, and for 26/27 has a figure of 12, 954 of SP on the tax code notification online.

molerat

https://forums.moneysavingexpert.com/discussion/comment/81894941#Comment_81894941

Yes, you will get a letter. MrsM has had hers dated 4 Feb, mine usually comes mid March. There are though 2 different types of letter, one gives the dates and amounts of the first 2 payments - as they will likely be different due to the mix of old and new weeks - not actually giving the weekly amount and is headed "increase to your state pension amount "and the other just states the new weekly amount and headed "about the general increase in benefits". I suspect yours will be the latter due to there being a protected payment so will need to show a calculation.

Quite easy to work out your new amount. (Old weekly amount - £230.25) * 1.038 + £241.30. Then 51 x that amount + 1 old week should equal £12954.

jem16

https://forums.moneysavingexpert.com/discussion/comment/81894871#Comment_81894871

The date of your annual increase will be determined by your normal payment day as the increase is always for full weeks. As your payment day is a Friday your increase does not begin till Saturday 11th April. My payment day is a Thursday so my increase is from Friday 10th April. Only those older pensioners who are on the weekly in advance schedule and paid on a Monday will have the increase from 6th April.

However, as I explained before, this has nothing to do with your tax code. Mine will utilise the 51/1 method as I reached SPA after 5th April 2010.

jem16

https://forums.moneysavingexpert.com/discussion/comment/81894948#Comment_81894948

My state pension has a Protected Amount due to an inherited amount. My increase letter doesn’t show the calculation, although does mention the two percentages. It just shows the first 2 payments due to mix of old and new.

molerat

https://forums.moneysavingexpert.com/discussion/comment/81894971#Comment_81894971

Gotta love the random workings of DWP 🤡

jem16

https://forums.moneysavingexpert.com/discussion/comment/81894977#Comment_81894977

Seems to be no rhyme nor reason as to how it’s set out for those on the new state pension. Only breakdown I’ve seen so far are for those on the old system.

molerat

https://forums.moneysavingexpert.com/discussion/comment/81894979#Comment_81894979

Mine, new pension, shows "how your benefit is made up" with the same single amount quoted 3 times as it goes down the list.

badmemory

https://forums.moneysavingexpert.com/discussion/comment/81894960#Comment_81894960

Thanks for the explanation. I had forgotten that Saturdays count. Just need to sort the missing 25p for being over 80, which was on last years letter & not this years.

LHW99

https://forums.moneysavingexpert.com/discussion/comment/81895009#Comment_81895009

Getting younger every day 😉

GunJack

Yet another thread (7 bl00dy pages!!) that just goes to prove that the whole tax and benefits system in this country needs to be simplified......not that I can see it happening before I reach SPA in 9 years time 🤔🤔