Pensioners' patchwork income 13 November 2015 at 7:01AM in Over 50s MoneySaving 27 replies 4.4K views

moneyistooshorttomention

Now that I'm deemed to be a fully-fledged pensioner at last (ie reached that revised State Pension Age of mine finally) - I think I've worked out all the constituent parts of my income okay. It gets confusing when income isn't just coming in from one source (ie a salary payment every month into the bank).

So - have I got it all worked out okay that this is all its constituent bits and I've not missed any please?

- Work pension

- Basic State Pension

- Serps pension added to the Basic State Pension

- Tiny bit of Graduated Pension added to the Basic State Pension

- Free buspass (had that anyway - as in Wales now - where it still starts at 60).

- Free prescriptions if need be (got them anyway - as in Wales). But I'd now get them in the rest of Britain too.

- Winter Fuel Allowance (£200 per year - non-taxable)

- annual Christmas Bonus (don't spend it all at once - £10!)

- the odd discount rate for something (eg cheaper theatre tickets sometimes/cheaper Local Authority evening classes).

- At 75 years old the TV licence becomes free.

- At 80 years old there is a measly 25p extra per week of pension

I'm pretty sure that's every bit of the "patchwork". Is there anything I've missed?

Newly_retired

Have you checked the thread on the Sticky what can I get now I am over 60?
Sorry link won't work, but do check on this board.

teddysmum

I've been a pensioner for over 6 years and didn't know about the Christmas bonus. I thought it was just for people on extra benefits.

moneyistooshorttomention

teddysmum wrote: »

I've been a pensioner for over 6 years and didn't know about the Christmas bonus. I thought it was just for people on extra benefits.

I was wondering how come I hadn't heard of this in many contexts - and that would explain it if its only for people on benefits.

Its absolute peanuts - as I gather it hasn't been raised with inflation in 40 years (since it was introduced). It "should" now be about £100 pa.

Still - every little...even if it just a widows mite level and would only buy a couple of bottles of plonk and, by the time I get much older would probably only buy a stamp.

Having never had any married persons tax allowance/child benefit money/etc I tend to be very "hot" on getting what I CAN manage to get as a single childless person to try and make up for that a bit - so I must google on that one a bit more and see if all pensioners do actually get it.

EDIT; I've just done a quick google again on that and https://www.gov.uk/christmas-bonus/eligibility

says that you have to be on a qualifying "benefit" to get it - but then goes on to put "State pension (including Graduated Retirement Benefit)" down on the list of "qualifying benefits".

I read that as meaning that anyone who has a "State Pension" will get it IF part of that is "Graduated Pension". My Basic State Pension has two add-ons - ie Serps and "Graduated Pension". That tiny little bit of "Graduated Pension" is from the fact that I started work so long ago that the work pension that came from my first job was called "Graduated Pension". Hence I read this as meaning I get this measly £10 pa of Christmas Bonus.

greyfox

Anyone who has a State Pension will get the Christmas Bonus. There are a few people who don't qualify for the Basic State Pension (didn't pay enough contributions to qualify) but who do get a bit of the Graduated Pension (Retirement Benefit) on its own. They get the Christmas Bonus, too.

PennyForThem_2

I get free swimming (in Cardiff) - this includes any activity in the pool including aerobics.

moneyistooshorttomention

I did pay in enough to qualify for full Basic State Pension - I think I must have put in the full 39 years worth of paid-for NI stamps I was told it needed to be originally (even allowing for time out for unemployment).

Oh yes...I shall certainly be asking if there is pensioner discount at every "social" type thing I use. Think I shall work on the "rule of thumb" that if they say student discounts apply, then I will automatically ask if there is a pensioner discount too:rotfl:

bjbyorkshire

The £10 Christmas bonus automatically goes into my bank with one of my state pension monthly amounts. You sometimes may not realise you have had it. Call up Dept of Work and Pensions with your National Insurance number and ask if you have actually been receiving this and not realised. I get it as well as the £100 which is my share of the joint bonus with my Husband.

moneyistooshorttomention

Can I ask what you mean by "your £100 - which is your share of your joint bonus with your husband" please?

Is this some other bit of income I wasn't aware of? - as this sounds to me like there is some sort of £200 "bonus payment" that a household gets??

I know about the £200 "winter fuel allowance" that I am due for each year (don't know whether that is per household or per person?) - but its not called a "bonus" payment.

Am a bit confused now...

bjbyorkshire

Yes sorry to confuse you, I couldn't think just exactly what it was called as I was typing. It is £200 shared between a couple or all to one person if a single. This is in addition to the £10 which as I said gets added onto one of my state pension payments before Christmas.

Serendipitious

This any good? From Gov UK:


For winter 2015 to 2016, you could get £140 off your electricity bill through the Warm Home Discount Scheme.
The money isn’t paid to you - it’s a one-off discount on your electricity bill, usually between September and March.
The discount won’t affect your Cold Weather Payment or Winter Fuel Payment.
Not everyone gets the discount - check if you qualify.