2009 Pension Increase

margaretclare

I think the small print is in the words 'and will also benefit the economy'.

In other words, this measure is aimed at a group of people who are likely to spend it, not put it into investments or savings. Same with child benefit. People who are likely to buy the consumer goods the shops are desperate to get rid of.

Jennifer_Jane

Yes, and also the vast number of Baby Boomers who are in the process of retiring, and who are more likely to vote than younger people.

MC and Fenman make interesting points.

Jen
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qml10

This may help. In other words, everybody on state pension gets £60 each in January but will still have to wait until April to get the 5% pension increase.


There were further announcements regarding the State Pension, such as:

• The level of the full State Pension will rise to £95.25 in April 2009, a £4.55 per week increase on last year’s figure; and
• The Government has also committed to making a payment of £60 to all pensioners in 2009, which is equivalent to bringing forward the State Pension increase from April 2009 to January 2009.

thefenman

qml10 wrote: »

This may help. In other words, everybody on state pension gets £60 each in January but will still have to wait until April to get the 5% pension increase.


There were further announcements regarding the State Pension, such as:

• The level of the full State Pension will rise to £95.25 in April 2009, a £4.55 per week increase on last year’s figure; and
• The Government has also committed to making a payment of £60 to all pensioners in 2009, which is equivalent to bringing forward the State Pension increase from April 2009 to January 2009.

Good grief!

So what 'Lil Darlin' said in Parliament on Nov 24th was a tissues of lies - or if not lies, then so vague as to allow the Govt. to interpret the statement in any way it wishes.

I thought it had gone suspiciously quiet, so much so that I have not yet vectored into my budget the apparent January increase. Why do the Tories and/or the Liberals not challenge the statement as reported by Hansard?

I feel a letter to my MP coming on! Out of interest, where do your quotations come from?

And, by the way, it doesn't say the £60 will come in January - it says "from January", that could mean any time up April, I guess. £60 is equivalent to 5% of only the basic pension - it falls a long way short of 5% of my pension which includes SERPS. It is non-taxable, however.

A useful link should anyone wish to contact their MP by email is

http://www.theyworkforyou.com/

sicker

Well, no £60 for me on Monday 5th January so will it be last Monday in January?

woozywendy

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sicker wrote: »

Well, no £60 for me on Monday 5th January so will it be last Monday in January?

I think it can go in anytime between January and March from what I have read.

MrChips

Jennifer_Jane wrote: »

Yes, just to mention - to no-one in particular - that this 5% is legally-required, not a lovely present from the Chancellor, and perhaps the reason for the £60 to all pensioners is to be able to say that Labour gave extra this year, but they must give the 5% because that was the inflation rate in September 08.

Is this definitely true? I thought that the level of increase was discretionary (not a "legal requirement"), but that usual practice was to base it on (at least) the RPI increase in the year to the previous September. But I'm not a pensioner yet so might be misinformed!

flip-123

Hi, I am 60 in middle of Feb this year and have recieved confirmation of my state pension. I am assuming that my pension will go up in April but can anyone tell me if I will be eligible to a proportion of the one off £60 payment which I understand is to be paid to pensioners sometime from the beginning of Jan?

Andy_L

MrChips wrote: »

Is this definitely true? I thought that the level of increase was discretionary (not a "legal requirement"), but that usual practice was to base it on (at least) the RPI increase in the year to the previous September. But I'm not a pensioner yet so might be misinformed!

Previous pension legislation commits them to an RPI increase, however Parliament can change the law as they did to use the cheaper RPI increase rather than wage increases or to change the retirement age to 68.

molley

woozywendy wrote: »

I think it can go in anytime between January and March from what I have read.

That's not what A. Darling said .He said it was being paid in January so that's the first Pension payday gone and no £60