It is Single Tier, not "flat rate"

greenglide

Ok,

Lots of ranting today about not understanding the new State Pension.

The press and government have not exactly covered themselves in glory over this.

The new system is a "Single Tier" it is not "flat rate".

So why are people on this formum who should and do know better still refer to it incorrectly as "flat rate".

Vortigern

greenglide wrote: »

The press and government have not exactly covered themselves in glory over this.

That is the problem. Most people get government sound bites on the news and in the press. Very few read white/green papers (or this forum!)

why are people on this formum who should and do know better still refer to it incorrectly as "flat rate".

I refer to it as the "so-called flat-rate state pension." Is that better?

jamesd

I do it because flat rate is less confusing than single tier, which requires more explaining. I'm aware of the different but not going to change because I prefer the clarity.

kidmugsy

I have tended to refer to them as old-style and new-style: I see no need to change.

Do I understand the present whingeing correctly: people who contracted out and thereby got a bigger non-State Pension would like a bigger State Pension too? Have they suggested at whose expense this flood of money should be provided?

jamesd

Just some who don't understand that their state pension was in part replaced by their work pension. Presumably their employer didn't do a good enough job of explaining this.

Of course those are the ones who don't have enough years to work under the flat rate to get both the work part and the full flat rate pension. The ones who can do that probably won't be complaining.

Then there are the ones who may not notice, those in work scheme who also had contracted in time and additional state pension that takes them over the flat rate anyway.