| Good news in the post today 18:40 - Sep 7 with 2390 views | Pinewoodblue |
My Basic State Pension increases, from next week, by an amazing 25p a week.
If I was unfortunate enough to qualify for Pension Credit I wouldn’t be so fortunate. Pension is regarded as earnings therefore as my earnings would increase by 25p a week the amount of pension credit would be reduced by 25p a week.
Just another e ample of how stupid our benefits system can be. |  |
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| Good news in the post today on 19:08 - Sep 7 with 1899 views | Swansea_Blue |
What’s that for then? It doesn’t sound anywhere large enough to be a triple lock uplift. |  |
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| Good news in the post today on 19:10 - Sep 7 with 1886 views | armchaircritic59 |
| Good news in the post today on 19:08 - Sep 7 by Swansea_Blue |
What’s that for then? It doesn’t sound anywhere large enough to be a triple lock uplift. |
It isn't, I should know. Be interesting to know the reason. |  | | |
| Good news in the post today on 19:11 - Sep 7 with 1886 views | Pinewoodblue |
| Good news in the post today on 19:08 - Sep 7 by Swansea_Blue |
What’s that for then? It doesn’t sound anywhere large enough to be a triple lock uplift. |
All pensioners get an increase of 25p per week once they reach 80. 5p a week will be clawed back by income tax. | |
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| Good news in the post today on 19:18 - Sep 7 with 1841 views | Swansea_Blue |
| Good news in the post today on 19:11 - Sep 7 by Pinewoodblue |
All pensioners get an increase of 25p per week once they reach 80. 5p a week will be clawed back by income tax. |
Well given the vast sum involved I’m sure it’s worth the £5 cost to administer the generous uplift and tax. Just don’t go spending your net 20p a week all at one now 
It’s all a bit daft isn’t it. | |
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| Good news in the post today on 19:20 - Sep 7 with 1834 views | Perublue |
| Good news in the post today on 19:18 - Sep 7 by Swansea_Blue |
Well given the vast sum involved I’m sure it’s worth the £5 cost to administer the generous uplift and tax. Just don’t go spending your net 20p a week all at one now
It’s all a bit daft isn’t it. |
How many Fredos does that buy a year these day’s ? |  |
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| Good news in the post today on 19:27 - Sep 7 with 1803 views | Pinewoodblue |
| Good news in the post today on 19:18 - Sep 7 by Swansea_Blue |
Well given the vast sum involved I’m sure it’s worth the £5 cost to administer the generous uplift and tax. Just don’t go spending your net 20p a week all at one now
It’s all a bit daft isn’t it. |
When it was first introduced in 1971 it was a substantial increase as weekly pension back then was £6.
Suspect if the additional payment had increased at the same time rate as pensions would be around £8 a week extra by now.
The benefit system really does need a complete overhaul. | |
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| Good news in the post today on 19:38 - Sep 7 with 1728 views | armchaircritic59 |
| Good news in the post today on 19:11 - Sep 7 by Pinewoodblue |
All pensioners get an increase of 25p per week once they reach 80. 5p a week will be clawed back by income tax. |
Oh got another 8.5 years to wait for that privilege. Just as well I have a private one as well! Obviously the thinking is that many will have " popped their clogs " by the time they're 80, so they won't have to pay that out either :) | | | |
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| Good news in the post today on 19:54 - Sep 7 with 1663 views | mellowblue |
bonkers, in 1971 that might have bought fish and chips and a drink, what on earth could you buy with it now?
By the way, Happy 80th birthday about now. Quite a landmark to reach. |  | | |
| Good news in the post today on 20:17 - Sep 7 with 1596 views | floridablue |
| Good news in the post today on 19:38 - Sep 7 by armchaircritic59 |
Oh got another 8.5 years to wait for that privilege. Just as well I have a private one as well! Obviously the thinking is that many will have " popped their clogs " by the time they're 80, so they won't have to pay that out either :) |
Same wait for me then as I was born in 54. As mellow mentioned what 25p would've bought when it was introduced in 71 is staggering. Fish & chips and a beer in my British local would set me back around $25 .. including the expected gratuity! | | | |
| Good news in the post today on 20:25 - Sep 7 with 1552 views | naa |
| Good news in the post today on 19:27 - Sep 7 by Pinewoodblue |
When it was first introduced in 1971 it was a substantial increase as weekly pension back then was £6.
Suspect if the additional payment had increased at the same time rate as pensions would be around £8 a week extra by now.
The benefit system really does need a complete overhaul. |
I think universal income is the way to go. Everyone gets it, super simple to administer.
Anything you earn is on top, no need to calculate anything, no need for people to not get a low paid job because it isn't worth it.
Sorted! | | | |
| Good news in the post today on 20:26 - Sep 7 with 1548 views | Nthsuffolkblue |
| Good news in the post today on 19:20 - Sep 7 by Perublue |
How many Fredos does that buy a year these day’s ? |
I know it's two days' supply of mini milks.
Or it used to be when I was growing up. |  |
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| Good news in the post today on 20:31 - Sep 7 with 1528 views | Nthsuffolkblue |
| Good news in the post today on 20:17 - Sep 7 by floridablue |
Same wait for me then as I was born in 54. As mellow mentioned what 25p would've bought when it was introduced in 71 is staggering. Fish & chips and a beer in my British local would set me back around $25 .. including the expected gratuity! |
Out of curiosity, I assume you earned in this country before emigrating. Assuming you paid NI, do you still get entitlement to part of a state pension even living abroad or is it something you can only claim if you live in the UK? | |
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| Good news in the post today on 20:40 - Sep 7 with 1495 views | floridablue |
| Good news in the post today on 20:31 - Sep 7 by Nthsuffolkblue |
Out of curiosity, I assume you earned in this country before emigrating. Assuming you paid NI, do you still get entitlement to part of a state pension even living abroad or is it something you can only claim if you live in the UK? |
Yes, I'm entitled to my British pension for all the years I contributed through NI contributions. Mine is reduced due to the years I missed out on but then topped up with my US social security contributions. I recall with help, that it did take a lot of effort back and forth to finally sort out my senior citizen monthly payments.
There are certain countries that doesn't allow this. [Post edited 7 Sep 21:27]
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| Good news in the post today on 21:14 - Sep 7 with 1385 views | BotesdaleBlue |
Five Bob is five Bob! How are you going to celebrate? |  |
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| Good news in the post today on 21:15 - Sep 7 with 1382 views | Guthrum |
| Good news in the post today on 20:25 - Sep 7 by naa |
I think universal income is the way to go. Everyone gets it, super simple to administer.
Anything you earn is on top, no need to calculate anything, no need for people to not get a low paid job because it isn't worth it.
Sorted! |
It's a lovely idea. However, the maths makes it very difficult in practice.
There are about 55.2m people in the UK over the age of 18. Giving each one the national average salary of £40k would require £2.2 trillion per year. The entire GDP is just over £3tr and the UK tax take is £938bn.
A UBI of £12.5k - equivalent to the state pension - would cost £690bn per year. Abolishing the tax threshold (you wouldn't need one if receiving nearly its equivalent free from the government) might raise about £485bn to offset that. But that still leaves a shortfall.
Employers are likely to lower wages/salaries if people are getting a UBI, so the overall tax take would fall (especially as we aren't very good at taxing big businesses). |  |
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| Good news in the post today on 21:40 - Sep 7 with 1291 views | Swansea_Blue |
| Good news in the post today on 19:20 - Sep 7 by Perublue |
How many Fredos does that buy a year these day’s ? |
I'm not sure about the cost of Fredos these days. It buys a one five-millionth of a Freddie Ladapo if that's any help. Maybe his little finger nail clippings. [Post edited 7 Sep 21:40]
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| Good news in the post today on 23:00 - Sep 7 with 1154 views | Nthsuffolkblue |
| Good news in the post today on 21:40 - Sep 7 by Swansea_Blue |
I'm not sure about the cost of Fredos these days. It buys a one five-millionth of a Freddie Ladapo if that's any help. Maybe his little finger nail clippings. [Post edited 7 Sep 21:40]
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So it's cheaper to buy Freddos and construct your own Freddie Ladapo than it is to sign the genuine article! | |
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| Good news in the post today on 23:44 - Sep 7 with 1099 views | armchaircritic59 |
| Good news in the post today on 20:31 - Sep 7 by Nthsuffolkblue |
Out of curiosity, I assume you earned in this country before emigrating. Assuming you paid NI, do you still get entitlement to part of a state pension even living abroad or is it something you can only claim if you live in the UK? |
I can answer that for one particular country, not all are the same. In the case of The Philippines, any one from the UK of state pension age who has gone to live there, can get their full UK pension paid into a bank account there. There is quite a list of countries that do so, but also some that do not. It's easy to find out on the appropriate Government web page.
https://www.gov.uk/government/
And for the EU and Switzerland:
UK State Pension
You can carry on receiving your UK State Pension if you move to live in the EU, EEA or Switzerland and you can still claim your UK State Pension from these countries.
Your UK State Pension will be increased each year in these countries in line with the rate paid in the UK.
You can also count relevant social security contributions made in EU and EEA countries and Switzerland to meet the qualifying conditions for a UK State Pension.
This guidance is for UK nationals, however these rules on the State Pension apply to everyone regardless of your nationality and regardless of when you moved.
Might help others! For the record, I don't currently live in the Philippines but it's a work ( slowly! ) undergoing. | | | |
| Good news in the post today on 08:47 - Sep 8 with 846 views | BrayBlue |
| Good news in the post today on 23:44 - Sep 7 by armchaircritic59 |
I can answer that for one particular country, not all are the same. In the case of The Philippines, any one from the UK of state pension age who has gone to live there, can get their full UK pension paid into a bank account there. There is quite a list of countries that do so, but also some that do not. It's easy to find out on the appropriate Government web page.
https://www.gov.uk/government/
And for the EU and Switzerland:
UK State Pension
You can carry on receiving your UK State Pension if you move to live in the EU, EEA or Switzerland and you can still claim your UK State Pension from these countries.
Your UK State Pension will be increased each year in these countries in line with the rate paid in the UK.
You can also count relevant social security contributions made in EU and EEA countries and Switzerland to meet the qualifying conditions for a UK State Pension.
This guidance is for UK nationals, however these rules on the State Pension apply to everyone regardless of your nationality and regardless of when you moved.
Might help others! For the record, I don't currently live in the Philippines but it's a work ( slowly! ) undergoing. |
The GB Govt recently ran a scheme, which is now closed, whereby if you paid NI contributions in the UK but not for enough years to qualify for a full UK pension, you could “buy” the missing years in order to qualify. The scheme was so popular they had to extend the deadline by 18 months as they were swamped with applications. In my case, for a modest outlay of £1400 I now qualify for the full UK state pension, on top of my full Irish pension! For the life of me I cannot figure out why the British Govt offered this scheme? But I am obviously very happy that they did!
Cheers,
JK | | | |
| Good news in the post today on 09:07 - Sep 8 with 809 views | bluejacko |
If you actually receive pension credit then believe it or not you are actually better off! You would qualify for all sorts of freebies to top your pension payment. | | | |
| Good news in the post today on 09:12 - Sep 8 with 792 views | Churchman |
| Good news in the post today on 08:47 - Sep 8 by BrayBlue |
The GB Govt recently ran a scheme, which is now closed, whereby if you paid NI contributions in the UK but not for enough years to qualify for a full UK pension, you could “buy” the missing years in order to qualify. The scheme was so popular they had to extend the deadline by 18 months as they were swamped with applications. In my case, for a modest outlay of £1400 I now qualify for the full UK state pension, on top of my full Irish pension! For the life of me I cannot figure out why the British Govt offered this scheme? But I am obviously very happy that they did!
Cheers,
JK |
You can buy missing years and I did that for myself and Mrs C. From the internet:
You usually need 35 qualifying years to get the full new State Pension, and at least 10 years to receive anything.
Each extra year you buy typically adds around £6.89 a week (about £358 a year) to your eventual State Pension.Time Limits.
Normally, you can only fill gaps from the previous 6 tax years. However, transitional rules allow you to buy back gaps going as far back as 2006 if you reach State Pension age after April 2016.
It costs £956.80 to buy a contribution year, so if that means an additional £358 a year, on receiving state pension, you need to live 3 years to get your money back. After that, happy days and a bit of a no brainer. If you fall off your perch within three years, you will lose out, but you can always write and complain! |  | | |
| Good news in the post today on 09:35 - Sep 8 with 744 views | OldFart71 |
As a pensioner I have a few issues regarding the State Pension. As a person who was 65 in 2015 it means although i started receiving my SP then I get less than those retiring now. When a few years from my SP I contacted the governments department responsible to find out what my pension would be. At that time it was necessary to have paid 44 years N.I. now 35 years although the age for SP has gone up to 66,67 and will be 68 or higher perhaps.
I have no issues with the government doing away with Triple Lock. But should this happen I want to see fairness across the scale.
That means the whole benefits system has an overhaul. Whilst not everyone on benefits are reasonably well off some are. They receive similar amounts to a pensioner but pay no tax if over the £12,570 personal Allowance. Whilst i also am aware it's a thorny subject we are paying billions to keep those turning up on our shores in hotels, HMO's and Social Housing. Again, is it then fair to remove money from a pensioner to pay for them ?
There are also things that can be done. Do we need a £10 Christmas bonus. A few may do, but many like myself are quite happy to see that go.
Then there's the issue of Means testing. It has been said that the cost outweighs the saving and how do you decide what a person/couple needs. Yesterday I actually Googled it and the figure came out at £45,400 for a couple to be able to pay household bills, have a two week holiday each year and go out for a meal once a month
Personally I see that as a bit high and not many unless getting a huge salary whilst a work would receive a company or private pension to boost along with their SP to that amount.
I now personal hardly ever go out for a meal, I now have a holiday every other year, a takeaway every two or three months.
I'm not complaining. All I want is fairness. | | | |
| Good news in the post today on 10:03 - Sep 8 with 672 views | Pinewoodblue |
| Good news in the post today on 09:35 - Sep 8 by OldFart71 |
As a pensioner I have a few issues regarding the State Pension. As a person who was 65 in 2015 it means although i started receiving my SP then I get less than those retiring now. When a few years from my SP I contacted the governments department responsible to find out what my pension would be. At that time it was necessary to have paid 44 years N.I. now 35 years although the age for SP has gone up to 66,67 and will be 68 or higher perhaps.
I have no issues with the government doing away with Triple Lock. But should this happen I want to see fairness across the scale.
That means the whole benefits system has an overhaul. Whilst not everyone on benefits are reasonably well off some are. They receive similar amounts to a pensioner but pay no tax if over the £12,570 personal Allowance. Whilst i also am aware it's a thorny subject we are paying billions to keep those turning up on our shores in hotels, HMO's and Social Housing. Again, is it then fair to remove money from a pensioner to pay for them ?
There are also things that can be done. Do we need a £10 Christmas bonus. A few may do, but many like myself are quite happy to see that go.
Then there's the issue of Means testing. It has been said that the cost outweighs the saving and how do you decide what a person/couple needs. Yesterday I actually Googled it and the figure came out at £45,400 for a couple to be able to pay household bills, have a two week holiday each year and go out for a meal once a month
Personally I see that as a bit high and not many unless getting a huge salary whilst a work would receive a company or private pension to boost along with their SP to that amount.
I now personal hardly ever go out for a meal, I now have a holiday every other year, a takeaway every two or three months.
I'm not complaining. All I want is fairness. |
There are many who lost out when the new State Pension was introduced, my wife missed out by a few months. The difference between the two pension will be over £3,000 next financial year.
The gap widens. Not sure everyone appreciates that, for those on the basic pension, who receive additional state pension, not all of it is covered by the triple lock.
I would be in favour of changing the triple lock. Keep the 2.5% minimum, but merge the other two elements. If wages rise by 4% and inflation 2.5% average the two to 3.25%.
Increase basic state pension by an additional £250 pa each year until the current gap is halved. It won’t be as expensive as people think, the youngest of those in the basic state pension will be 75 next financial year. | |
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