State Pension Uprating

molerat

And you should receive a letter in the next week or two with your first 2 payment dates and amounts.

DoublePolaroid

blue.peter said:

MallyGirl said:

It would be less than 11 years due to the triple lock pension increase each year. Statistically you will likely live beyond 77 unless you know otherwise (existing health, family history).

Yes, of course you're right about the effect of the triple lock. On the other hand, the interest that would be gained if I left the money in a savings account should also be offset.

As for my life expectancy, my GP described me as "a heart attack waiting to happen". That was in March 2008. He'd just measured my blood pressure at 230/140. Not surprisingly, I've been taking drugs to control it ever since - currently three of them. And a statin for cholesterol. I'm rather overweight, my lifestyle is sedentary and I drink more whisky than my GP likes. So I won't bet on living to 77.

Bit late to the party.

The people who should be most worried are those who don't go to their GP, don't get their BP measured or their cholesterol level checked and therefore continue to exist with a blissful lack of awareness of their increased cardiovascular risk.

You on the other hand now (presumably) have blood pressure that is well controlled and are taking a long term cardiovascular risk reducer (statin) meaning that you're ahead of the game in terms of your cardiovascular risk than many at your age. Plus heart attacks aren't what they used to be - survival is likely (>90%) and afterwards a bit of plumbing-esque unblocking and a stent or five and you're good to go for a while thereafter.

Another way of considering things is, if you make the payment and fail to make the breakeven point, you won't care because you'll be dead. If you pass the breakeven point, you'll be happy to have made a good decision.

blue.peter

molerat said:

And you should receive a letter in the next week or two with your first 2 payment dates and amounts.

Six days

jools1985

molerat said:

And you should receive a letter in the next week or two with your first 2 payment dates and amounts.

I applied online for my State pension on 25/5/24, the day I got my invitation. I'll be 66 in September. No letter for me yet.   I'll maybe give them a ring in case it's gone astray

blue.peter

jools1985 said:

I applied online for my State pension on 25/5/24, the day I got my invitation. I'll be 66 in September. No letter for me yet.   I'll maybe give them a ring in case it's gone astray

Alternatively, you can check online. This is an excerpt from the letter that I got:

It's a bit of a faff to get registered, but you might find it easier than phoning and waiting on hold for ages. (To be fair, I don't know that DWP would keep you on hold for ages. I'm guessing that that might happen.)

blue.peter

And this morning, the first payment of my State Pension arrived in my current account.

Everything's gone very smoothly for me. No hitches at all. The system worked.

fly-catchers

Wonder if they will add the option of managing your state pension online to people who have had the pension earlier! I started mine in January but it won’t let me register for that service (yet!)

blue.peter

fly-catchers said:

Wonder if they will add the option of managing your state pension online to people who have had the pension earlier! I started mine in January but it won’t let me register for that service (yet!)

I hadn't realised that it was that new.

There isn't an awful lot to it - just a single page of information - but what is there is genuinely useful: details of the next payment amount and date, and the ability to change things like the bank account to which it's paid and your address and phone number(s).

Yes, the sooner it's made available to everyone, the better.