State Pension Forecast Calculator
Projects your UK new State Pension to retirement using the 2026/27 baseline of £241.3/week + the triple-lock formula (max of CPI, average earnings growth, 2.5%).
Enter your figures and click Forecast.
How the forecast works
- 2026/27 baseline rate. The new State Pension full rate is £241.3/week from 6 April 2026 (DWP Proposed Benefit and Pension Rates 2026 to 2027). 35 qualifying NI years = full rate; 10 minimum to get any payment; pro-rated linearly in between.
- Triple lock projection. Each year the State Pension rises by the higher of: CPI inflation (September previous year), average weekly earnings growth (May-July), or 2.5% (the floor). The Pensions Act 2014 establishes statutory uprating; the triple-lock formula is government policy and could be re-legislated. Long-run average uplift since 2011 has been approximately 3.0% / year.
- Future years accrued. Years between your current age and State Pension Age are assumed to be NI-qualifying if you're working full-time + earning above the Lower Earnings Limit (£6,396/year 2026/27). NI credits also count - claiming Child Benefit for a child under 12, receiving Carer's Allowance, etc.
- Voluntary Class 3 top-up. Class 3 NI 2026/27 weekly rate is £18.40 per week = £956.80/year per qualifying year (gov.uk Voluntary NI rates). Buys 1/35th of the full new SP = £6.89/week (£358/year) in 2026/27 prices. Payback time roughly 3 years of receipt - one of the highest-yield retirement investments available. Up to 6 prior years can usually be filled; check eligibility on gov.uk before paying.
- Today's money discount. Future nominal pension is discounted at the CPI assumption to express in current purchasing power. The actual real-terms outcome depends on whether wages or CPI dominate the triple lock over your remaining career.
Worked example: age 40, 20 years accrued, retiring at 67
Default scenario: 20 qualifying years now, 27 more to State Pension Age 67. Final qualifying years = 35 (capped). Full new SP at retirement.
- 2026/27 base: £241.3/week = £12548/year.
- 27 years of triple-lock uplift at 3.0%: £241.3/week × 1.0327 ≈ £536/week nominal.
- 27 years of 2% CPI: nominal back to today's money divided by 1.0227 ≈ £314/week in 2026/27 prices.
- The +1% real-terms gap from triple lock vs CPI is the long-run hedge value of the SP - around 30% real-terms uplift over a 27-year horizon.
Sources + caveats
- Current new State Pension rate per DWP Proposed Benefit and Pension Rates 2026 to 2027. Qualifying-years rules per the State Pension Act 2014 + Schedule 1.
- Triple-lock policy is government policy not statute; could be replaced or scaled back. Recent OBR + IFS analysis has flagged the long-term fiscal cost.
- State Pension Age timetable: 66 (current default for those born 1955-1960), 67 from 2028 (Pensions Act 2014 s26), rising to 68 from 2044 onwards. Future timetable acceleration possible.
- Class 3 voluntary NI 2026/27 weekly rate £18.40 per gov.uk Voluntary NI rates page. Pre-2026 top-ups possible up to 6 tax years back (transitional rule for some pre-2017 gaps extended through April 2025 has now expired).
- For your authoritative figure use gov.uk/check-state-pension. Not pension advice; consider regulated advice before paying Class 3.