New State Pension Forecast available on-line
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New State Pension Forecast available on-line

59
Found 4th Apr 2016
State pension forecasts are now available online via a tool being publicly tested ahead of major reforms next week.

The new web device, which offers forecasts to workers of all ages, hasn't been fully publicised yet - but you can find the early 'beta' test version via:

tax.service.gov.uk/che…ion

Previously, only people aged 50-plus could get a forecast of their new state pension by applying over the phone or by post.

The state pension overhaul will introduce a new flat rate of £155.65 a week, but the changes have sparked anger and confusion as some people discovered they will receive less while others remain in the dark about the size of their payout.

The new online tool could now help people who are unsure if they are on track for a full state pension or not.

59 Comments

Well - I tried this in February - spent hours registering - uploading passport, driving licence details and all sorts - phoning the Post Office as I failed their security questions......eventually got registered - was looking forward to the result - and got the message - 'You have paid reduced rate contributions at some point and we cannot give you a forecast' or words to the effect. A good few hours of my life I won't get back, so I had to phone anyway. One crucial thing you might get asked - and that is the amount on your P60 for 2014/15 Kinda stops you dead in your tracks if you're not prepared for it.........) or one of them if you get more than one (as I do)

Can you pay a lump sum take up the short fall?

Brilliant! Thanks for this.

Everyone - keep your passport details (number, names, expiry date) or P60 handy.

trott3r

Can you pay a lump sum take up the short fall?



Have you had a forecast? If you haven't I would get one first

does this include contributions from the company i work for? doesnt seem the right amount to me, or is it just my contributions?

cache

does this include contributions from the company i work for? doesnt seem … does this include contributions from the company i work for? doesnt seem the right amount to me, or is it just my contributions?



There are some leaflets which may help

gov.uk/gov…040

it seems to be a little bit broken ATM. I phoned the helpline and they said there were a few problems today.

trott3r

Can you pay a lump sum take up the short fall?



Depends on cause of shortfall. If it is because at some time you were contracted out and paying into a private or works pension, then no you can't.

Original Poster

ILIKEBARGAINSME

Well - I tried this in February - spent hours registering - uploading … Well - I tried this in February - spent hours registering - uploading passport, driving licence details and all sorts - phoning the Post Office as I failed their security questions......eventually got registered - was looking forward to the result - and got the message - 'You have paid reduced rate contributions at some point and we cannot give you a forecast' or words to the effect. A good few hours of my life I won't get back, so I had to phone anyway. One crucial thing you might get asked - and that is the amount on your P60 for 2014/15 Kinda stops you dead in your tracks if you're not prepared for it.........) or one of them if you get more than one (as I do)



This new beta version is s lot better than the system you used in February. I got a forecast this morning. It took about 5 mins (but I was already registered on the government gateway). It took into account periods where I have contracted out too.

cache

does this include contributions from the company i work for? doesnt seem … does this include contributions from the company i work for? doesnt seem the right amount to me, or is it just my contributions?



This is nothing to do with your employer. It is the pension entitlement you build up through your own National Insurance payments.

thank you buddy, i am a bit clueless! state pension through our national insurance, gotcha thanks again

Is the £155.65 the maximum state pension, or the basic state pension.... and what is the difference?

Original Poster

Her_Indoors

Is the £155.65 the maximum state pension, or the basic state pension.... … Is the £155.65 the maximum state pension, or the basic state pension.... and what is the difference?



This article by Which is very helpful and should answer any questions you have:

which.co.uk/mon…on/

glendin

This new beta version is s lot better than the system you used in … This new beta version is s lot better than the system you used in February. I got a forecast this morning. It took about 5 mins (but I was already registered on the government gateway). It took into account periods where I have contracted out too.


I paid a 'married woman's stamp' in the 1980's it was 2% NI - I think that was the problem. I can't access the government gateway - cos I'm 'old' and can't remember my password or username - it will no doubt be in that massive 'safe place' where everything goes and I know not where it is any more!!

I apparently have 3 years in which I did not contribute enough - totalling a shortfall of £1300, however I have always worked under a PAYE structure rather than contracting / self employed.

Does this mean my past employers did not pay enough to the tax man?

jai47

I apparently have 3 years in which I did not contribute enough - … I apparently have 3 years in which I did not contribute enough - totalling a shortfall of £1300, however I have always worked under a PAYE structure rather than contracting / self employed.Does this mean my past employers did not pay enough to the tax man?


I would phone HMRC

Thanks - it gives me an estimate for what I will get when I reach retirement age based on how many years NI I have to 5/4/15...... so I will check back in a couple of days to see what is says for NI contributions up to 5/4/16.....
So hopefully I will be able to quantify how much each years contribution is worth (straight line?)

Only problem is as the 'result' states, it does not GUARANTEE the sum..... and the way this gov is going with moving the goal posts, they may suddenly say you need 40 or 45 years contributions rather than the current 35 (was 30)

Her_Indoors

Thanks - it gives me an estimate for what I will get when I reach … Thanks - it gives me an estimate for what I will get when I reach retirement age based on how many years NI I have to 5/4/15...... so I will check back in a couple of days to see what is says for NI contributions up to 5/4/16.....So hopefully I will be able to quantify how much each years contribution is worth (straight line?)Only problem is as the 'result' states, it does not GUARANTEE the sum..... and the way this gov is going with moving the goal posts, they may suddenly say you need 40 or 45 years contributions rather than the current 35 (was 30)



Lucky you! I need to work 39 years to get my full allocation

Amazes me how if you don't work all your life you still get a state pension!

Seem to register ok and got my Id number back - then got this "We were unable to confirm your identity" - after putting in NI number and DOB. Will have another go tomorrow. Ta Anyway

Original Poster

Her_Indoors

Thanks - it gives me an estimate for what I will get when I reach … Thanks - it gives me an estimate for what I will get when I reach retirement age based on how many years NI I have to 5/4/15...... so I will check back in a couple of days to see what is says for NI contributions up to 5/4/16.....So hopefully I will be able to quantify how much each years contribution is worth (straight line?)Only problem is as the 'result' states, it does not GUARANTEE the sum..... and the way this gov is going with moving the goal posts, they may suddenly say you need 40 or 45 years contributions rather than the current 35 (was 30)



It usually takes several months before your NI record will update. I suspect it may not show 2015-16 until about June. This is usually the case if you are employed as it takes time for your employer to update HMRC.

gonzo02

Amazes me how if you don't work all your life you still get a state … Amazes me how if you don't work all your life you still get a state pension!



If that was the case it would be massively unfair against women who will have a period of not "working" in order to have children.

just be warned if you were contracted out through your employers pension scheme you will receive significantly less than the £155 - I'm due my state pension in May and under the new system would only have been entitled to £40, luckily there are some transition arrangements in place and i will receive the "old" state retirement pension. There are going to be many, many disappointed people when they get there quotes!

gonzo02

Amazes me how if you don't work all your life you still get a state … Amazes me how if you don't work all your life you still get a state pension!




Under the new pension you need 10 full years contributions to get anything at all.

hobsgrg

If that was the case it would be massively unfair against women who will … If that was the case it would be massively unfair against women who will have a period of not "working" in order to have children.


Mothers get 'credits' - under the guise 'home responsibility protection' - maybe dads do as well if they were at home
Edited by: "ILIKEBARGAINSME" 4th Apr 2016

sleeper99

just be warned if you were contracted out through your employers pension … just be warned if you were contracted out through your employers pension scheme you will receive significantly less than the £155 - I'm due my state pension in May and under the new system would only have been entitled to £40, luckily there are some transition arrangements in place and i will receive the "old" state retirement pension. There are going to be many, many disappointed people when they get there quotes!


I'm one of them. Only found out about this a couple of weeks ago. Too late for me to do anything about it now. The government are publicising this great single tier £155 pension for all and it won't apply to thousands of people. Not sure I'll make it to the rapidly increasing state pension age anyway!

bobmccluckie

Under the new pension you need 10 full years contributions to get … Under the new pension you need 10 full years contributions to get anything at all.



When did those rules kick in?

(thinking of making a lifestyle decision to go on the dole for 30 years).

Thanks

thanks for this

bobmccluckie

Depends on cause of shortfall. If it is because at some time you were … Depends on cause of shortfall. If it is because at some time you were contracted out and paying into a private or works pension, then no you can't.



I was not contracted out or paying into a private pension.

I remember receiving a letter in the mid to late 90s saying i had a short fall but not having the money at the time i could not make it up.
Not sure why it happened maybe because i did a year back at uni trying to improve my grade.

Not sure the state pension classes as a "Freebie" unless I break the "Oldest Person Ever" Guinness World Record of 122 years old.

guinnessworldrecords.com/wor…son
Edited by: "0dd8a11" 4th Apr 2016

Jonnyblock

When did those rules kick in? (thinking of making a lifestyle decision to … When did those rules kick in? (thinking of making a lifestyle decision to go on the dole for 30 years).



Next week!

Original Poster

0dd8a11

Not sure the state pension classes as a "Freebie" unless I break the … Not sure the state pension classes as a "Freebie" unless I break the "Oldest Person Ever" Guinness World Record of 122 years old.http://www.guinnessworldrecords.com/world-records/oldest-person



Ha!ha!

Worked fine for me but you do need to be registered and have documents at hand like 14/15 p60. Be prepared. Remember it may be a pain to get the info but it's all about security and confirming you is you. Don't blame the system if you are not prepared or you have lost or can't find crucial documents. Hot from me.

Will the amount not increase with inflation?

how can I get the leaflet sent to me in the post rather than having to print them please?

Original Poster

smellyonion

Will the amount not increase with inflation?



The state pension and new state pension are (at present) covered by the 'Triple Lock'. This means that the state pension rises every year by the highest of price inflation, earnings growth or 2.5%.

Original Poster

swoodge

how can I get the leaflet sent to me in the post rather than having to … how can I get the leaflet sent to me in the post rather than having to print them please?



You can contact the Future Pension Centre for questions about the State Pension or to ask for a statement.

Future Pension Centre helpline:

Telephone: 0345 3000 168 (statements and enquiries)
Telephone from outside the UK: +44 (0)191 218 3600

this is great so you can make preparations in time for your pension

You can get more than £150 - but only if you paid loads of S2P.
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