Your State Pension figure isn't correct. How did you get figure?

There are different ways to calculate the annual State Pension, and this is EV's calculation of the state pension is as follows;

The amount is weekly, so people need to convert that in some way to an annual amount (if that’s what they’re quoting). They might simply multiply by 52 since a weekly payment is likely to be made 52 times in any particular year.

However, if looking across several years, they might want to capture the fact that some years would have 53 payments (depending on the day of payment).

They could do that by assuming about what day it’s paid on and therefore apply 52 or 53 payments in any particular year depending on what type of year it is.

Or they might want to apply a steady annual figure reflecting the amount paid each week, e.g. by converting from weeks to days to years.

They could do this for each year, applying either 365 or 366 days per year depending on whether it’s a leap year, or they could apply a single figure that doesn’t do this, but captures the fact that some years are leap years and some aren’t, and this is how we and others do it.

The figure is amendable, if you would prefer to show something different you can edit the amount for each client.