State pension changes?

uk1

Errata wrote: »

I have no idea when the green paper will be published, does anyone know?

http://www.dwp.gov.uk/consultations/2011/state-pension-21st-century.shtml

margaretclare

I was fascinated to read that the only change to pension age from 1926 was the reduction in women's pension age from 65 to 60 in 1940. I'd love to know the thinking behind that, why it was done just at that time. In 1940 we were fighting for our lives. It was well before the Welfare State legislation post-WWII and 2 years even before Beveridge published his 1942 report on which that legislation was based.

I'd love to know why, and why just then.

uk1

margaretclare wrote: »

I was fascinated to read that the only change to pension age from 1926 was the reduction in women's pension age from 65 to 60 in 1940. I'd love to know the thinking behind that, why it was done just at that time. In 1940 we were fighting for our lives. It was well before the Welfare State legislation post-WWII and 2 years even before Beveridge published his 1942 report on which that legislation was based.

I'd love to know why, and why just then.

It was the [FONT=Arial,Arial][FONT=Arial,Arial]Old Age and Widows Pensions Act 1940 [/FONT][/FONT]which introduced different SPAs for men and women (65 and 60). Debates on the Billsuggest three reasons for the change:

There was a desire to improve pensions generally and this provided an opportunity which was less costly than other options;

The fact that wives tended to be younger than their husbands mean that a common pension age was seen as problematic. It was felt that wives should qualify for their pensions at the same time as their husbands;

Women’s domestic responsibilities on top of their paid work were felt to leave them ‘tired’ at 60.

More info: http://www.parliament.uk/briefingpapers/commons/lib/research/briefings/snbt-02234.pdf

mumps

uk1 wrote: »

It was the [FONT=Arial,Arial][FONT=Arial,Arial]Old Age and Widows Pensions Act 1940 [/FONT][/FONT]which introduced different SPAs for men and women (65 and 60). Debates on the Billsuggest three reasons for the change:

There was a desire to improve pensions generally and this provided an opportunity which was less costly than other options;

The fact that wives tended to be younger than their husbands mean that a common pension age was seen as problematic. It was felt that wives should qualify for their pensions at the same time as their husbands;

Women’s domestic responsibilities on top of their paid work were felt to leave them ‘tired’ at 60.

More info: http://www.parliament.uk/briefingpapers/commons/lib/research/briefings/snbt-02234.pdf

Well I'm 58 this year and I can confirm that I am definitely tired, and I fear it will get worse over the next two years.

uk1

mumps wrote: »

Well I'm 58 this year and I can confirm that I am definitely tired, and I fear it will get worse over the next two years.

It's probably the gin.

WillowCat

ceridwen wrote: »

...and I'm still wondering whether (if I get the new flat-rate pension) I will find they have taken my SERPS pension away - ie in order to make sure that I pay for my own apparent "pay increase".

As SERPS is a "job pension" and not a "State pension" as such - ie it just gets tagged onto the State Pension, but has come about because one has paid "pension contributions" from a job to get it - then we should all still receive whatever SERPS we are due for ON TOP OF the State Flat Rate Pension (£140 equivalent per week).

From what I can see in the green paper, yes they will take away your SERPS. And if you've contracted out they'll adjust for that too.

I appear to be one of the losers too - I had thought I could depend on my basic state pension and get my contracted out/S2p pension too. The total is currently about the same as the flat rate though, so any additional state pension contributions - which I HAVE to make - in the next 20 or so years will be wasted.

gatita

I think also we will be on the losing side. I am retired and get a ridiculously small amount of pension.(£30) My husband retires in 2015. We had thought that when he retired we would get the Married Persons Allowance. What if anything will happen to that?

We cannot claim any benefits at all at the moment as we were stupid enough to try to save as much as possible for our retirement. It all seems so terribly unfair, my husband has already 'paid in' for 45 years! and STILL we will be penalised
grrrrrrrrrrrrrrrh

Farway

gatita wrote: »

I think also we will be on the losing side. I am retired and get a ridiculously small amount of pension.(£30) My husband retires in 2015. We had thought that when he retired we would get the Married Persons Allowance. What if anything will happen to that?

Abolished years ago
https://forums.moneysavingexpert.com/discussion/587420

Torry_Quine

gatita wrote: »

I think also we will be on the losing side. I am retired and get a ridiculously small amount of pension.(£30) My husband retires in 2015. We had thought that when he retired we would get the Married Persons Allowance. What if anything will happen to that?

We cannot claim any benefits at all at the moment as we were stupid enough to try to save as much as possible for our retirement. It all seems so terribly unfair, my husband has already 'paid in' for 45 years! and STILL we will be penalised
grrrrrrrrrrrrrrrh

There is no such thing as a married persons allowance or pension. Everyone gets their own pension from their own contributions or if more when their spouse retires can get 60% of the full pension.

gatita

I stand corrected, that is what I meant "spouse retires can get 60% of the full pension. "

So..........what will happen to that under the new scheme?