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Pensions (plural)

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Pensions (plural)

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Old Jul 4th 2024 | 12:19 am
  #61  
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Default Re: Pensions (plural)

I now have access to my DWP correspondence, but cannot check that I am getting the £169.50 per week.
This is because I deferred, and they have not given a breakdown of the values.
The original letter did give a breakdown, but it is not clear whether this was for the year starting April 2022, or April 2023.

Where could I find the values for the Old State pension for the years 2022 and 2023?
 
Old Jul 4th 2024 | 4:02 am
  #62  
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Default Re: Pensions (plural)

Originally Posted by formfill1
I now have access to my DWP correspondence, but cannot check that I am getting the £169.50 per week.
This is because I deferred, and they have not given a breakdown of the values.
The original letter did give a breakdown, but it is not clear whether this was for the year starting April 2022, or April 2023.

Where could I find the values for the Old State pension for the years 2022 and 2023?
​​​​​​I dont know if you can get copies of previous pension letters sent to you? I think you are meant to keep them yourself.
However this link shows what the previous years were for uk state pension including the year you are asking about. The 2 columns are STP Single Tier Pension or new higher stare pension and BSP Basic State Pension or state pension paid to those who started drawing their state pension before 2016.

https://www.tfpcalculators.co.uk/state-pension-history/
 
Old Jul 4th 2024 | 6:48 am
  #63  
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Joined: Mar 2017
Posts: 131
formfill1 is an unknown quantity at this point
Default Re: Pensions (plural)

That link gives the information I was asking for (correspondence from the DWP
didn't give the value of the Basic State Pension BSP, or enough information to work it out)

It seems I was getting slightly less than the BSP for the year 2022/23.
Using that BSP value, I can work out what % increase I get for deferring.

Using this % and the BSP of 169.50 for 2024/2025, I can make a check for my weekly 2024/25 value.
This gives a value slightly lower than the weekly figure that DWP quoted.

Though there appears to be a slight contradiction in these values, I am not particularly worried, as my concern
was that a major error had occured. This obviously isn't the case, based on my calculations above.

Thanks for all the help in getting to this result.
I now have a basic understanding of something that was a mystery to me before.
 
Old Jul 4th 2024 | 7:04 am
  #64  
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Default Re: Pensions (plural)

Originally Posted by formfill1
That link gives the information I was asking for (correspondence from the DWP
didn't give the value of the Basic State Pension BSP, or enough information to work it out)

It seems I was getting slightly less than the BSP for the year 2022/23.
Using that BSP value, I can work out what % increase I get for deferring.

Using this % and the BSP of 169.50 for 2024/2025, I can make a check for my weekly 2024/25 value.
This gives a value slightly lower than the weekly figure that DWP quoted.

Though there appears to be a slight contradiction in these values, I am not particularly worried, as my concern
was that a major error had occured. This obviously isn't the case, based on my calculations above.

Thanks for all the help in getting to this result.
I now have a basic understanding of something that was a mystery to me before.
Glad it helped you sort it all out.
 

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