Moneybox - time to pension-off the state pension?

paul666

http://news.bbc.co.uk/1/hi/programmes/moneybox/3641952.stm

Very interesting program with some good quotes.

the main thrust of the program is that
Everyone but the govenment says drop means testing for pensions and fix it at £105 for all - and it won't cost a penny in taxes or otherwise.

Also, if you're not going to have more than £70K in your pot when you retire then, with current means testing, you're wasting your time (and money!)

Pal

Also, if you're not going to have more than £70K in your pot when you retire then, with current means testing, you're wasting your time (and money!)

I didn't see the programme but what you have stated sounds about right. Gordon Brown has completely hashed up state pensions. They were not great to start with but they are a total mess now.

Hopefully the current means tested mess will be sorted out by the time most people get to state pension age, so the £70k "limit" should not be a disincentive to save unless you are already very close to age 65. Time will tell.