State pension changes?

Errata

Sorry - you missed my point. I was referring to those with a SRP and not including those with a second state pension. I should have made that clearer.

datostar

margaretclare wrote: »

There has been talk of 'rewarding people for being married' but AFAIK this remains just talk.

Marriage brings its own rewards <g>

Errata

So......... have I got this right? Those who paid in least will get most, and those who paid in most will get least?

krisskross

Errata wrote: »

So......... have I got this right? Those who paid in least will get most, and those who paid in most will get least?

Reckon that's about the size of it:rotfl:

hethmar

Well, I shall be prepared to join any marches, in fact, I shall be googling for senior citizens rights groups as soon as I finish this posting!

I paid up a lot of extra money in my last few years because Id been silly enough to pay the "married woman's" stamp in my early married life and then I had time off to look after the children - I had no family locally so no way I could take on a job with the problems involved in school hols and sickness etc. I used to work the weekends at nights to supplement OH's money. So, double whammy, I paid out all that money for extra stamps, still dont get a full pension and now it seems we shall miss out on getting the increased proposed pensions.

I think we should take to the streets like the students (who lets face it, didnt really know what they were supposed to be protesting about anyway - most of them will be high earners in a few years or perpetually on benefits).

hethmar

Right, this is what we all have to join

http://www.npcuk.org/index.html

Britain’s biggest pensioner organisation, the National Pensioners Convention (NPC) has accused the government of creating a complicated two-tier pension system - leaving existing pensioners with a combination of an inadequate state pension and a complicated means-tested system.
The accusation follows today’s publication of the long awaited Green Paper on state pension reform, which proposes introducing a flat rate state pension of £140 a week for those retiring after 2016.
The NPC has three main criticisms of the plan:

1. It excludes existing pensioners, particularly around 5m older women who do not currently qualify for a full state pension - but would benefit from a universal pension based on a reduced number of years’ contributions.
2. The flat-rate £140 a week state pension is cost neutral – and remains nearly £40 a week less than the official poverty line of £178 a week. It is unlikely to reduce pensioner poverty, particularly if additional support such as housing and council tax benefit is also removed.
3. The government has already weakened the state and occupational pension systems by replacing their annual Retail Price Index rises with those based on the lower Consumer Price Index. The amount lost over 10 years could be as much as £10,000. The Green Paper will do nothing to address these losses.
4. Plans to introduce an automatic mechanism for raising the retirement age will hurt the poorest in our society. All the evidence shows that longevity is linked to income, with those living in more affluent areas living at least 7 years longer than their poorer counterparts.

Dot Gibson, NPC general secretary said: “It is breathtaking the way in which the government has abandoned those who have spent years contributing to our society, by excluding them from plans to raise the state pension. The real losers will be the millions of older women who don’t have a full state pension record, but would benefit from these changes.”

Oldernotwiser

As someone who reached pension age last month, I've been bewailing the unfairness of people retiring in 2015 receiving more. Today I found out how much my state pension will be and it's a fair chunk more than the £155 new flat rate pension!

I think I better backpedal to hide my embarrassment!

seven-day-weekend

Oldernotwiser wrote: »

As someone who reached pension age last month, I've been bewailing the unfairness of people retiring in 2015 receiving more. Today I found out how much my state pension will be and it's a fair chunk more than the £155 new flat rate pension!

I think I better backpedal to hide my embarrassment!

Congratulations ONW! :beer: Mine is £104 aweek until next week's rise, but I spent a lot of years not earning much and having my pension covered by Home Responsibilities Protection (so not accruing SERPS) and then opted out into the LGPS. I don't take the LG Pension yet but at present it is worth about £50 a week. So I suppose I shouldn't grumble either!:)

Oldernotwiser

seven-day-weekend wrote: »

Congratulations ONW! :beer: Mine is £104 aweek until next week's rise, but I spent a lot of years not earning much and having my pension covered by Home Responsibilities Protection (so not accruing SERPS) and then opted out into the LGPS. I don't take the LG Pension yet but at present it is worth about £50 a week. So I suppose I shouldn't grumble either!:)

I've already been quite fortunate as I was 60 last September and although that meant I had to wait 5 months for my pension, it also meant that the 30 years contributions came in and made me eligible for a full pension. I was expecting about £105/110 and was stunned to find that, after the recent increase, I'll be getting £172! I feel quite rich!

Errata

How does that work ONW, when the SRP is £97 ?