Hammers co-chairman David Gold said earlier this week the manager will have to wait until the end of the season to discuss a new contract, with his current deal set to expire in the summer.
The club are on a disappointing run, having won two in their last 12, but remain 11th in the Premier League standings.
Allardyce, who guided the Londoners to promotion from the Championship last season, insists there is no problem over his position at the club.
The 58-year-old is not expecting any knee-jerk reaction from the club's owners despite their current rough patch.
He told The Sun: "There's no problem. We'll talk once our Prem status is secure.
"Some owners pull the trigger early but it is not like that here."