Reading your State Pension forecast, in more detail

The plan holds your State Pension as a yearly figure in today’s money, the weekly amount multiplied by the weeks in a year. Each later year raises it by “State Pension uprating”, one of the assumptions you set.

It starts on the day you reach State Pension age, which for some birth dates falls months after a birthday, as the law sets it. The tax year that day falls in pays only for the part after it, and every year after is whole.

“National Insurance years so far” works the figure out from your record instead. The plan adds one year for each working year before the pension starts, then pays nothing below the minimum number, the full rate at the full number, and a share in between. A weekly amount typed into “Weekly forecast” replaces this calculation.

“Defer claiming by” moves the start later by whole years and raises the pension for life. The line beneath it says what each year adds, from the rules Landfall holds.

National Insurance on earnings stops at State Pension age. The pension itself is taxed as income, beside earnings and other pensions. The timeline marks each person’s State Pension year with a teal ring, and the funding chart gives it a band of its own.