10% of historic state pension forecasts were wrong! So, what should you do?
The new state pension for someone with a full National Insurance history is £168.50 per week or £8,762. If both partners in a couple qualify that’s a joint indexed tax free income of £17,524 per annum. If you are lucky enough to own your own home, then that’s a liveable income. But the Department of Work and Pensions admits that around 3% of online state pension forecasts are still incorrect while a few years back the figure was nearer 10%. So, well before you reach state pension age, obtain a state pension forecast and check for any incorrect NI gaps and get your records corrected.
On Money Talk this Friday, veteran financial adviser Simon Webster explores the issues around state pension and pre-retirement planning generally. Tune in to www.channelradio.co.uk/2 at 1pm on Friday.
Find out how Talis can help you plan ahead for your retirement by visiting the links below, or give us a call on 01233 722999 if you would like independent financial advice: