55 year old women lose approx £30k in State Pension

Valli

hit us when we're menopausal and, therefore,distracted...

we might live LONGER

but we might not live BETTER

let's go right back...
when I was starting school the starting age was 4 but you could leave at 15 (11 yrs)

while I was there the starting age went upto 5

But the leaving age went up to 16 (not so long before you coudld leave at 15) so still 11 year BUT me of course - I got an extra years schooling!

so now they're keeping me in work longer....

aaaarghhhhhhhhhhhhh

bigheadxx

The recent changes mean that a woman who was 60 on 6 April 2010 is far better off than a woman who turned 60 on 5 April. Only 30 years are required to receive the full state pension and the state second pension presumes that you earned £13,000 p/a regardless of actual earnings. The effect is potentially an extra £60 p/w.

mumps

bigheadxx wrote: »

The recent changes mean that a woman who was 60 on 6 April 2010 is far better off than a woman who turned 60 on 5 April. Only 30 years are required to receive the full state pension and the state second pension presumes that you earned £13,000 p/a regardless of actual earnings. The effect is potentially an extra £60 p/w.

Not all women will be better off, I have already paid NI for over 40 years and 8 years to go, I also earn more than £13k pa. No benefits for me and 3 years 7 months extra to work.

dunstonh

mumps wrote: »

Not all women will be better off, I have already paid NI for over 40 years and 8 years to go, I also earn more than £13k pa. No benefits for me and 3 years 7 months extra to work.

So, the same as a man then.;)

nearlyrich

I think you should get a pension when you have paid the equivalent of 30 years NI on minimum wage they is no real financial reward for paying in more.

custardy

nearlyrich wrote: »

I think you should get a pension when you have paid the equivalent of 30 years NI on minimum wage they is no real financial reward for paying in more.

you do,just not till you are the required age
lets be honest,the system isnt fair and unfortunatly requires people to pay in to cover others for whatever reason

McKneff

Im beginning to think I'm glad I hit 60 last October even though i claimed my state pension on my husbands contributions (60%) I did work (and still do) but only had 20 years contributions.
and of course i dont pay any NI now.
So all in all Im quite happy with my lot after reading some of the posts here.

missile

BM_Surrey wrote: »

I am 55 years old. I have been advised that I cannot now draw my state Pension until I am close to 65 years old. All my working life I have been lead to believe that I will get my state Pension at the age of 60. It seems that, over night, I have lost 5 years of state pension which amounts to around £30,000. I cannot understand why more women my age are not up in arms about this??!! Particularly, as the wait to collect my Pension has doubled from 5 to 10 years overnight!!!!

This is very old news, where have you been hiding :eek:?

This change reflects changes in a modern society. More women work and have the opportunity to follow a career and legislation which supports women's rights to equal opportunity.

Women live longer than men. Why do you think women should be entitled to better benefits than men?

bryanb

It could be much worse. You could be in the Greek system. Sudden rise in pension age from 53 to 65, maybe not even get one.

BM_Surrey

Amazing how everyone seems very accepting to these rises in retirement age. Equality does not necessarily mean that one party should suffer - they could have reduced the retirement age for men!! Look some more flying pigs!