Quote:
Originally Posted by Stevie25
I am due to receive my State Pension in 4 years time.
Ok, so I can check on-line what the forecast is - in my case £164.72/week.
However, that is the same figure for the last three years.
Question: I understand it only a forecast but Should it not increase with inflation?
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Yes it will - but as we don’t know what inflation will be over the next three years they cannot accurately predict what the increase will be.
Looks like you have your full 35 years NIC - so even tho’ you pay more NIC each year you will not see an increase in your State Pension under current rules.
One thing people are poor at is to a) make sure your spouse achieves their full 35 years NIC and b) plan effectively for the increase in pension age from 60 for women.
I think the State OAP is now quite generous for couples since scrapping the old SERPS and the S2P. - But whilst both spouses can benefit from c£165 a week - or £330 combined a week - which is far better than the old system - sadly women have to wait a good few years before they now get it.