Changes to pension payments!
chesky369
Posts: 2,590 Forumite
It seems that the pension service has decided to eliminate the choice we’ve all been able to take up until now. From next April, ALL state pensions will be paid every four weeks in arrears. When my pension started I chose to take it weekly in advance and I’m at least pleased that this will continue – it’s only for new pensioners.
I think it’s penny-pinching and mean on the part of the government.
I think it’s penny-pinching and mean on the part of the government.
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Comments
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I think it’s penny-pinching and mean on the part of the government.
I agree, but on the other hand we have a massive budget deficit due to the banking crisis.How should pensioners share in the need to deal with this?Would you prefer it if they means-tested the fuel allowance?Or cancelled the bus pass?
This tweak will make quite a big difference to the Govt balance sheet but not much to individuals, as quite a lot of pensioners probably already choose to get paid monthly in arrears because it fits in with their existing budget arrangments from when they were at work.And as you say, we who have chosen to be paid weekly won't be affected.Trying to keep it simple...0 -
EdInvestor wrote: »Would you prefer it if they means-tested the fuel allowance?Or cancelled the bus pass?0
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It seems that the pension service has decided to eliminate the choice we’ve all been able to take up until now. From next April, ALL state pensions will be paid every four weeks in arrears. When my pension started I chose to take it weekly in advance and I’m at least pleased that this will continue – it’s only for new pensioners.
I think it’s penny-pinching and mean on the part of the government.
Where did you see this - can you post a link?
IIRC when I first started getting state pension payment, because I wanted it paid into the bank and not by means of an order book, 4-weekly was the only option and that was what I did for a number of years. AFAIK weekly payments into the bank are a fairly recent innovation, when order books were abolished.[FONT=Times New Roman, serif]Æ[/FONT]r ic wisdom funde, [FONT=Times New Roman, serif]æ[/FONT]r wear[FONT=Times New Roman, serif]ð[/FONT] ic eald.
Before I found wisdom, I became old.0 -
From reading the BBC news report on this change, it seems that the option of weekly, fortnightly, 4 weekly payments is still there. The change is that all payments for new pensioners are no longer paid 'in advance'..
Extract:
New pensioners will lose the choice but will be able to choose weekly, fortnightly or four-weekly payments in arrears.
That means they will get their pension - and the annual increase in it - at least two weeks later than those who have their pension paid a week in advance0 -
...How should pensioners share in the need to deal with this...
I don't see that they necessarily should, given the fact that the government seems unable to do anything about the huge bonuses paid to bankers, paid for by our taxes.0 -
Why should pensioners have to pay up to bail out rich bankers, through whose reckless speculation the financial system was put into chaos?
Let the bankers themselves pay up first, by a windfall tax on their pensions, bonuses and benefits, and only after that let them, and their political friends, come crawling to the pensioners for a handout from the poor.0 -
Here's the link.
http://news.bbc.co.uk/1/hi/business/8348264.stm
It only saves £1m a year, drop in the bucket.
As to why pensioners should contribute to the budget deficit, you have to bear in mind that Government spending on other groups will be cut and while pensioners are likely to be protected in the main, they can be subject to criticism if seen to be collecting lots of 'freebies' at a time of national austerity.Trying to keep it simple...0 -
EdInvestor wrote: »I agree, but on the other hand we have a massive budget deficit due to the banking crisis.How should pensioners share in the need to deal with this?Would you prefer it if they means-tested the fuel allowance?Or cancelled the bus pass?
What I would like to see is the winter fuel allowance being paid only to pensioners. It would be simple to link the payment to the claim for state pension.
When OH reached 60 we were both working and on good salaries. We didn't need £200 and thousands of others don't at that stage in life.Member #14 of SKI-ers club
Words, words, they're all we have to go by!.
(Pity they are mangled by this autocorrect!)0 -
...they can be subject to criticism if seen to be collecting lots of 'freebies' ..
do you know, I think I can live with a bit of criticism.0 -
pollypenny wrote: »
What I would like to see is the winter fuel allowance being paid only to pensioners. It would be simple to link the payment to the claim for state pension.
When OH reached 60 we were both working and on good salaries. We didn't need £200 and thousands of others don't at that stage in life.
well it is happening, with the rise in womens state pension age the qualifing age for winter fuel payments IS rising, as is the the qualifing age for Pension Credit.0
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