State Pension Forecast Changes Again

State Pension Forecast Changes Again.

In an interview on thisismoney.co.uk, Steve Webb MP and Pensions Minister, has confirmed that following complaints from the general public, state pension forecasts for those due to retire using the new state pension after April 2016 will change again.

Currently, those that will  retire under the new flat rate state pension rules, when they request a free state pension forecast, they receive a statement of what pension rights they would have received under both the old and new rules.  The reality is that you will receive the higher of either of the two projected statements.

Apparently, many people have complained about the format and telephone the Department for Work and Pensions regularly asking what State Pension they are likely to receive.

Mr Webb has confirmed that they will make it clearer under any new statement design. 

Comment

We have seen the currents statements and we cannot see what the problem is, that said some people who are not used to reading pension statements may have a little trouble.  So the change is welcome. We will get hold of a copy as soon as we can.