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MSE News: £140-a-week state pensions on the cards
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So I am semi retired working self employed for only a day a week. I still pay my Class 2 contributions each week because I assumed if I did not it could affect my state pension. Is that no longer the case and do you think it will matter if I stop paying soon? :j
If you are making voluntary class2 and you have over 30 years contributions I guess there would be no point continuing but I suggest you ask for a pension forecast.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Steve, it's simply irresponsible to make posts like that which - like it or not - will be taken as advice, when we simply don't know the details of what is proposed yet.
It's frankly irresponsible of MSE to post stories like this, for the same reason.
It creates all sorts of debate, hypotheses, conjectures which - invariably - are taken as gospel truth by many forum members.0 -
Irresponsible - Thats the Gospel Truth
'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
So when the government moves to its flat rate of £140 for every woman, is it going to pay me back my £3K in savings?
You wouldnt think so. The 4 previous times the Govt reduced state pensions retrospectively (SERPS mainly) they didnt give any money back.David Cameron and the Conservative Party, you have just lost my vote for life.
You shouldnt be allowed the vote if you have decided that on the basis of this proposal that hasnt even really got going yet and details not published.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Does anyone know if this will mean that ALL will get the flat 140 or will a reduced amount be paid to married couples as is now?0
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Someone getting full qualification on S2P now can get around £3500 a year. However, those coming up to retirement can actually get more than double their basic state pension as the terms were more favourable in the past.
Dunstonh are you saying someone paying the maximum NI would have received around £5000 State pension PLUS over £10000 from SERPS pension, giving a figure of over £15000? I thought SERPS pension was capped at around £165 per week, giving a maximum possible total of around £13500 (Basic+SERPS).0 -
HAPPYEATER wrote: »Does anyone know if this will mean that ALL will get the flat 140 or will a reduced amount be paid to married couples as is now?
No. Nobody knows because for the hundredth time, the proposals havent been published yet.
Jeez . .0 -
Steve, it's simply irresponsible to make posts like that which - like it or not - will be taken as advice, when we simply don't know the details of what is proposed yet.
It's frankly irresponsible of MSE to post stories like this, for the same reason.
It creates all sorts of debate, hypotheses, conjectures which - invariably - are taken as gospel truth by many forum members.
What do you mean? irresponsible to suggest they ask for a pension forecast?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
wakeupalarm wrote: »Dunstonh are you saying someone paying the maximum NI would have received around £5000 State pension PLUS over £10000 from SERPS pension, giving a figure of over £15000? I thought SERPS pension was capped at around £165 per week, giving a maximum possible total of around £13500 (Basic+SERPS).
That is tripling the pension. I wouldnt go that far! I have seen people in excess of £10k with basic and additional. I believe a couple of posters on this board have confirmed their figures as being in excess of 10k before. However, its not actually possible to get that much for those younger who are starting out now. Its more like £8500 being most likely maximum with full qualification of S2P.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
No. Nobody knows because for the hundredth time, the proposals havent been published yet.
Jeez . .
On that basis we don't know even after it is published because Labour could make amendments when they are elected after the next election.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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