What Benefits at 60?

Bogof_Babe

Mojisola wrote: »

I'm about the same age and I've had a pack from the DWP about my pension. Get on the phone and see what's happening to your paperwork.

Do you know who I should phone?

Edit: s'okay, I've found the number:
Telephone: 0800 731 7898
Textphone: 0800 731 7339
Monday to Friday, 8am to 6pm (except public holidays)

Hope 0800 numbers are free during the day on my BT evenings and weekends package.

dawyldthing

gadgetmind wrote: »

They can still opt out and many will. We provide generous employer contributions into a group personal pension with low fees, but still people opt out.

I think some people must want to be poor in old age to give them something to moan about!

I don't think 110 odd pension, 60 odd pension credit, 60 odd if you get the oap equilivant of disability living allowance, winter fuel allowance, bus pass, free dental, optitions and prescriptions, winter fuel allowance and the others is poor plus many get council tax and rent paid for. When it adds up its at least 15k a year and theres a lot of working people get less than that and its after tax.

But it is the same as the public workers pensions like the firefighters who were striking the other week when they have paid in 400 a month which over a 40 year working life works out at about 200k paid in (say another 100k off of interest works out around 300k) but if said ones live until they are 90 say and retire at 60 would only give them 10k a year but they get is it 19k a year?

nearlyrich

Grandmama wrote: »

dunstonh:- Not everybody has good private pension to fall back on if they retire early in the age range we are discussing. In the 1960's I wanted to join the work's pension scheme and was refused being told that women did not need one, we were expected to get married and live off our hubby's. It was expected when I was young that the state pension would be the good provider. Therefore women were not allowed in some cases to pay into a works pension, and don't forget the married women's NI stamp which now means nothing today. Most women in their 50's and 60's are now having to work on because the state pension is all they will get. Hopefully the younger generation, who are now being forced to pay into a pension will be better off later in life (I have my doubts).

I am 52 now, when I was 28 I realised that I would need to provide for myself in my "Old Age" so I started paying into a pension scheme. Hubby has been retired for over 10 years so I want to finish at 55. It's amazing how many of my peers have no provision for their retirement beyond the state pension fund.
Before anyone says not everyone can afford to pay into a pension scheme it depends on individual priorities but I decided it was important to not be poor in retirement and I budgeted accordingly.:)

Torry_Quine

dawyldthing wrote: »

I don't think 110 odd pension, 60 odd pension credit, 60 odd if you get the oap equilivant of disability living allowance, winter fuel allowance, bus pass, free dental, optitions and prescriptions, winter fuel allowance and the others is poor plus many get council tax and rent paid for. When it adds up its at least 15k a year and theres a lot of working people get less than that and its after tax.

But it is the same as the public workers pensions like the firefighters who were striking the other week when they have paid in 400 a month which over a 40 year working life works out at about 200k paid in (say another 100k off of interest works out around 300k) but if said ones live until they are 90 say and retire at 60 would only give them 10k a year but they get is it 19k a year?

That's a huge assumption. not everyone will get free dental care,optical care, pension credit to that amount etc.

IainHL

Bogof_Babe wrote: »

.
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Hope 0800 numbers are free during the day on my BT evenings and weekends package.

0800 numbers are free on any BT package, and indeed as far as I am aware any landline package. At some point in the future, if Ofcom gets its way, they are going to be free from mobiles too.

Renoir77

Bogofbabe I think my retirement is the same date as yours I think you are miss reading it ......6th January 2016 .....that's 62 10 months and 16 days for me and I should get paperwork in September 2015 not 2013.....

mumps

gadgetmind wrote: »

He actually knows what he's on about and you would do well to pay attention to what he writes.

dunstonh wrote: »

So, in reality, it has only gone up four months from what she was expecting. Not too bad.

mumps wrote: »

Why is it only 4 months? She would have been in the original transition of pension age to 65 and she would have reached pension age before 65, wouldn't she?

Well I am paying attention but he hasn't answered my query. I think the OPs retirement age was raised from 60 in the 1995 legislation but not to 65 so the second lot of changes has added more than 4 months to her retirement age. I would be glad to hear the answer.

mumps

dunstonh wrote: »

They can look for a new job or save more money so they can finish earlier. People have choices in life. Whilst some may have reduced choices, most can make of life what they want of it.

I have been putting more money away since the 1995 changes were announced, my intention was to retire at 60, as always planned. Earlier this year changes went through that delayed my SRP by another 18 months, I couldn't save enough in the 8 or 9 months to maintain my plan to retire on my 60th birthday. It is hard to plan when things change at such short notice.

Bogof_Babe

Renoir77 wrote: »

Bogofbabe I think my retirement is the same date as yours I think you are miss reading it ......6th January 2016 .....that's 62 10 months and 16 days for me and I should get paperwork in September 2015 not 2013.....

I am now 61 and 7 months, so Jan 2014 is my SPA. The c&p I put up was just to illustrate the bit about when someone a year younger than me could expect their claim pack, as it wasn't shown on the page relevant to my age, presumably because the system believes it has already been sent out.

Sorry for the confusion .

Dimey

I've posted in other threads that I'm unhappy about moving the women's retirement age from 60 to 65 with what I consider to be short notice and unfair selection. I appreciate the experts do not agree with me. Fine

My humble and unprofessional opinion is that I don't think that 1954 was announced 15 years ago (I agree equalising to age 65 was). I think 1954 was only announced a few years ago (I'd be interested to know definitively if anyone can post? )

But if I accept it was 15 years, that isn't long to change 25 years worth of planning especially given the recent lack of returns on investments and savings.

I think it would have been fairer to stagger by postponing womens' retirement age by only one year over a larger age group and not victimise a small 1954 group - Why us? when if you'd been born a month earlier you'd have been fine.

The 1954 group also get clobbered with the reduced pension so instead of receiving circa £200 per week, we'll just get £145 and only 5 years to try to make up that difference ourselves.

All those years of paying in extra Graduated, Serps and S2P and we'll get nothing for it.

I am fed up already and there's plenty of time for more brilliant ideas to come from government before 1954' ers get to claim their state pensions.