My new Tax Code arrived today

Bitstring , from the wonderful person Gordon H said

You're getting shoddy treatment, my family members who get such things as pension increase notices had them more than a week ago..

What do you reckon then... 3.9963% ?

No.... 3.6%

I haven't worked out how much the tax goes up on my company pension as a result, and I don't get the figures on that pension until 30th march. It should be based on the December RPI, with a maximum of 3%.

I make mine 4.916%

x=pension per week today y="your state pension" 2007/8 z=y/365*7=pension per week 2007/8 i=z-x p=i/x*100=4.916

What am I doing wrong?

Bitstring , from the wonderful person Adagio said

Probably nothing. If you were contracted out of SERPS, the government is still, iirc, responsible for paying some part of the index linking. For many people their 'index linked' company pension goes up by less than inflation predicts, and the government provided part goes up faster to compensate.

Your BASIC state pension should have gone up by 3.62% (from 82.45 to

87.3 per week). You also have to watch out for how many weeks there are in the year (52 or 53). Your SERPS pension may well have gone up by some different amount.

Perhaps you have GMP in a company pension, on which the inflation is paid via your state pension.

GSV Three Minds in a Can writes

I used the total of my State Pension + SERPS, as follows:

I did: y/13 = monthly pension 2007/8 (For 4 week months)

(y/13 - current monthly pension)/current monthly pension

I got 3.62665%

It goes up by last September's RPI - or 2.5% if greater (to avoid "peanuts" headlines in tabloids).

Yes it is.