£140 a week!

yabbadoo

PS - "couples" DO exist in the current system, but only if married before 1935! I can't believe that the "new" system is identifying 100 year-old married people for special treatment ... (assuming age 20 when married, 2015 the new pension date)

Goldenyears

I thought it was when at least one spouse/civil partner was born before 6 April 1935.

wotsthat

Is the recognition of "couples" in the new pension regime leading to rationalisation of tax allowances for State pensioners?

If you mean will couples be able to share tax allowances it would seem highly unlikely as a) it would cost money and b) it would benefit those people that don't 'need' it. i.e. if you are into marginal age relief then the government considers you to be wealthy enough already.

wotsthat

PS - "couples" DO exist in the current system, but only if married before 1935!

and within the child benefit system where one of them is a higher rate taxpayer

yabbadoo

Partial quote) it would benefit those people that don't 'need' it. i.e. if you are into marginal age relief then the government considers you to be wealthy enough already.[/QUOTE]

You are almost certainly correct, though combining both our tax allowances against the one income supporting us both would nearly wipe out the tax!

Re high-earning couples and Child Allowance - as with pensions, AFAIK this "couples" proviso came in at same time - I never declared Child Allowance paid to my wife (but I was never a higher rate taxpayer).

thefenman

bendix wrote: »

Perhaps if you relied on your own efforts to fund your retirement rather than rely on the government you would be less concerned.

The state pension is not a god-given right. It is a benefit which can be withdrawn, increased or amended at will.

If you don't like your future income being subjected to the whim of political change, you should make your own plans and free yourself from the nanny state. That you haven't to date is your fault, not that of anyone else.

My concern is that there is a suggestion that they will withdraw the SERPS and Graduated Pension I accumulated. I have 2 other pensions, a War Disablement one and a private one neither of which I can do anything to change.

You make too many assumptions, I'm 75!

dunstonh

thefenman wrote: »

My concern is that there is a suggestion that they will withdraw the SERPS and Graduated Pension I accumulated. I have 2 other pensions, a War Disablement one and a private one neither of which I can do anything to change.

You make too many assumptions, I'm 75!

If you are aged 75 then what are you worried about? The proposals are for those that have yet to hit state pension age. Not for those already past state pension age.

roysterer

dunstonh wrote: »

Personally, I am classed as self employed. So, the changes, based on the little info known so far, put me down as a winner. So sod the lot of you. I love these changes


SELF EMPLOYED Doing what?
You seem to spend 24/7 on this MSE site. If you dont mind me asking how many hours a week do you actually work. You often refer people to take advice from an IFA, If your employed in this field do you actually take up any time researching investment opportunities as well as actively managing your clients investments?
Or pick the next fund off the list which pays the highest commision.
As Jim Royal would say:-
WORK, MY !!!!!!!!!!

thefenman

dunstonh wrote: »

If you are aged 75 then what are you worried about? The proposals are for those that have yet to hit state pension age. Not for those already past state pension age.

It is all so unclear - even my MP has not been able to clarify it.

If you are correct in saying it won't effect me, then super, I need not worry further.

Don't know what you think, but I think this lot are trying to do too much too soon.

dunstonh

It is all so unclear - even my MP has not been able to clarify it.

It is green paper stage. At that point its almost hypthetical as its so early in the proces. The problem is that it hasnt gone through all the pros/cons, issues and problems stage yet.

Don't know what you think, but I think this lot are trying to do too much too soon.

I think its great. We havent had radical thinking in Govt since the 80s.