MSE News: Flat-rate state pension could be £155 a week

mania112

This is interesting for those who have their own pension (rather than relying on the the State offering)

http://completeretirementsolutions.co.uk/news/2011/04/women-could-be-forced-to-turn-to-pension-release/

rossmagpie

Anyone in their late fifties will now spend the next few years sweating over whether they'll be "in" or "out" of any new system i.e. will the reforms happen before they retire on the old system?

roddydogs

Were Trillions in debt, fighting 2 wars, cutbacks everywhere, the polls are not in our favour, what can we do?
I know, weel increase the Basic State pension, and remove means testing, so even us millionaires can get the full amount.........Great Idea, when can we start?

chris_m

roddydogs wrote: »

Were Trillions in debt, fighting 2 wars, cutbacks everywhere, the polls are not in our favour, what can we do?
I know, weel increase the Basic State pension, and remove means testing, so even us millionaires can get the full amount.........Great Idea, when can we start?

Bear in mind 2 things - firstly, the anticipated increase over the previous proposal is simply applying inflation to that proposal. Secondly, this isn't planned to start immediately, the plan is for the deficit to be dealt with (or, at least, under control) before this change kicks in.

Also, to all the people who've asked detailed questions about it in this thread and may be disappointed at not getting any meaningful replies - bear in mind that the ink is barely dry on the Green Paper, there are lots of things to be consulted on and decided before it even makes it to a White Paper for debate (and possible amendments) in Parliament. Nothing in it is, as yet, written in stone. Some aspects could be amended, some dropped and other things added before that happens. No-one as yet knows what the final outcome will be, not even the authors.

harz99

roddydogs wrote: »

Were Trillions in debt, fighting 2 wars, cutbacks everywhere, the polls are not in our favour, what can we do?
I know, weel increase the Basic State pension, and remove means testing, so even us millionaires can get the full amount.........Great Idea, when can we start?

Glad to hear your a millionaire; though even if you get the full amount in your situation it will be taxed to the hilt anyway, so the state gets most of it back.;)