State pension age on May 2027 and marriage allowance

haveabreak

Hello

I used the tool below to check my state pension age.

Check your State Pension age - GOV.UK

It is stated as 15 May 2027. Does this mean the state pension will be paid from this point on?

And does it follow that for the 2027-28 tax year I will receive only about 46 weeks state pension?

I am enquiring as I claim marriage allowance. So my personal allowance will be £11,310.

If state pension increases by 2.5% to £247.33 from £241.30 then 46 weeks will be £11,377.30, which means it will still be beneficial to claim marriage allowance.

My reasoning is to stop claiming marriage allowance once the state pension I receive is above £12,570 (the normal personal allowance). I have no other income.

Silvertabby

Your State pension is payable from that date - but it isn't paid automatically. You will have to apply for it, 3 months in advance.

Just a couple of points - looks like next year's State pension increase will be linked to the rise in wages, not the minimum 2.5%, so the full new single tier amount will be £250 plus some odds a week.

You have checked your SPA date, but have you checked your amount due? Don't assume that you will get the standard amount just because you have 35 years of NI contributions. You fall under the transitional arrangements, so your State pension may be less - or even more - than the single tier rate.

DRS1

I believe you have to cancel the marriage allowance before the start of the tax year - so if you want to disapply it for 27/8 you need to do it in 26/7.

I think the state pension is set to rise by 3.9% not 2.5% so that may affect your figures.

molerat

If you are really interested there is an app available for Android and Windows, UK State Pension Calendar, that by inputting your date of birth and last 3 of your NI number, ie 99C - 99 gives your payment day and C your week in the 4 week cycle, will give you your SP date, date of first payment with weeks & days amount, date of second payment and a calendar of future payment dates taking account of UK bank holidays.

SnowMan

Assuming that your wife/husband/civil partner is able to reduce their tax bill by the full £252 through your claim then it does appear to be beneficial to continue to claim marriage allowance in 2027/2028.

State pension is taxable based on entitlement in a tax year not how much is actually paid. You will have 46 weeks and 5 days of entitlement in 2027/2028 (15/5/2027 to 5/4/2028 inclusive of both dates). Nobody including HMRC themselves seem to consistently know how they round that 46 weeks and 5 days, it might be unrounded, rounded down to 46 weeks or even rounded up to 47 weeks.

If you claim the new state pension, and you are entitled to no more or no less than the full new state pension (and it's important to check) then the new state pension amount for 2027/2028 will be around £250.70 per week because the April 2027 state pension increase is almost certainly going to be based on earnings and that figure is 3.9% subject to a possible minor revision to it in October.

That means that your taxable state pension for 2027/2028 (even if they round up to 47 weeks) will be around £11,782 ( = 250.70 x 47) and you have no other income.

As this is less than £12,570 a continued claim is beneficial, although between you you won't save the full £252 because you will pay a small amount of income tax yourself if your taxable income is above £11,313 (= 0.9 x 12570)

Keep an eye out for anything in the budget that changes things.

jem16

https://forums.moneysavingexpert.com/discussion/comment/82142081#Comment_82142081

Have you reported the glitch to the developer? He’s very good at sorting it.

molerat

https://forums.moneysavingexpert.com/discussion/comment/82142465#Comment_82142465

Fixed now.