PENSION
FORECAST
Who can get a Retirement Pension
forecast?
You can get a Retirement Pension
forecast if you are more than four months away from state Retirement
Pension age.
If you are within 4 months
of state Retirement Pension age and you have not had a Retirement
Pension claim pack, get in touch with your social security office
straight away.
What your pension forecast
will tell you?
Basic pension:-
This is the part of your state
Retirement Pension that is based on the National Insurance (NI)
contributions you pay, or are given as credits, during your working
life.
Your forecast will tell you
in today’s money values:-
- the amount of Basic Pension
you have earned already
- the amount of Basic Pension
that you can expect at state pension age, based on what you have
earned already and what you night earn before you retire.
Your forecast will also tell
you if there is anything you can do to improve your basic pension.
Additional Pension
and Contracted-out Deductions
Additional Pension is the part
of your pension that depends on your earnings since April 1978.
It is also known as State Earnings-Related Pension Scheme (SERPS)
Some employees are contracted-out
of this scheme by their employers or by a personal pension scheme.
If this applies to you, we will give you more information in your
pension forecast letter.
- Your forecast will tell
you in today’s money values:-
- the amount of Additional
Pension you have earned already
the amount of Additional Pension
you can expect at state pension age, based on what you have earned
already and what you night earn before you retire.
Graduated Retirement
Benefit
This is part of your pension
that depends on the amount of graduated NI contributions you may
have paid between 1961 and 1975 when the scheme was in operation.
Your forecast will tell you
in today’s money values how many units of Graduated Retirement
Benefit you have, and what they are worth.
If you are widowed or divorced:-
Your late or former spouse’s
NI contributions can sometimes be used to help you get a better
pension.
Your forecast will tell you
in today’s money values the amount of pension you can expect
by using your late or former spouse’s NI contributions, if
this will give you a better pension than using your own NI contributions.
Please fill in form BR19 Application for a Retirement Pension forecast.
Check that you have answered
all the questions that apply to you. And check that you have signed
and dated the form.
If you need any help filling
in the form, get in touch with the Benefits Agency:-
Contact Details:-
Benefits Agency,
RPFA Unit,
Pensions and Overseas Benefits Directorate,
Newcastle upon Tyne,
NE98 1BA
If you have a speech or hearing
problem, there is a textphone service. Just ring 0191 218 7280.
If you do not have your own
textphone system, they are available in some libraries or Citizens
Advice Bureau. The telephone text service is only for people with
speech or hearing problems.
Your Retirement Pension forecast
will be sent to you. It takes an average of 17 working days to prepare
a forecast, if you have been widowed or divorced, it might take
up to 40 working days to prepare a forecast.
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