£25 a week extra on my state pension

Richard - London said:
The whole state pension idea is crazy, we have had 50 odd years of people enjoying retirement on the money from the younger gen, a generation that won't see a state pension themselves. How the younger gen are not on the streets rioting about this system is crazy,
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After a fashion, you're not ******* wrong.
The current pension for the amount the current pensioners put in, it a massive amount of money.
Given the conservative attitude of do away with NI, so in future we can means-test the OAP and remove it from anyone who actually paid for it in their taxes, we do need a revolt.
There's a generation who will retire in around 12years onwards who contributed large amounts of state pension workplace pensions, and so on and so forth who will no doubt be strung up when it comes to claiming it.
 
Destination said:
After a fashion, you're not ******* wrong.
The current pension for the amount the current pensioners put in, it a massive amount of money.
Given the conservative attitude of do away with NI, so in future we can means-test the OAP and remove it from anyone who actually paid for it in their taxes, we do need a revolt.
There's a generation who will retire in around 12years onwards who contributed large amounts of state pension workplace pensions, and so on and so forth who will no doubt be strung up when it comes to claiming it.
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There is no paying in or contributing to a state pension. State pension for current retirees is paid for by taxing current workers. The relationship between NI and state pension is only eligibility.
 
arknor said:
I'll double check, but I'm sure my mum told me she doesn't have a state pension nor my dad.

maybe they looked at a wrong pension and thought they weren't eligible :S, bit late now if thats the case both in their 70s
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They didnt want to let you know how much they are spending on coke and hookers worthers originals and tea so trying to make their income sound lower than it is ;)
 
SexyGreyFox said:
Are you saying that it's a lot of money for somebody like me has never not had a job for 50 years and paid tax weekly for that time?
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It’s so annoying. You spend 50 years putting into the economy, taxes, public services and when you get too old to work some people expect you to be plunged into desperate poverty as a couple of hundred quid a week or so is too much money. :rolleyes:

They’ll be old one day and then they’ll change their tune.
 
Richie said:
So not the governments fault for raiding the actual pension fund up the wall resulting in current working generations having to pay for the current state pension payments? :confused:

I note you left the first part out - Do you have some evidence showing that younger people won't get a state pension or is this another one of your many opinions you pass off as fact?
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What fund are you thinking of.

State pensions in the UK are not backed by any savings. NI and tax comes in and out it goes again.
 
robfosters said:
It’s so annoying. You spend 50 years putting into the economy, taxes, public services and when you get too old to work some people expect you to be plunged into desperate poverty as a couple of hundred quid a week or so is too much money. :rolleyes:

They’ll be old one day and then they’ll change their tune.
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If @Destination meant what I think he meant then he's looking at the State Pension as a Benefit which it isn't.
We've worked damned hard to get that and basically we've been paying some of our wages into a savings account.
 
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Richard - London said:
The whole state pension idea is crazy, we have had 50 odd years of people enjoying retirement on the money from the younger gen, a generation that won't see a state pension themselves. How the younger gen are not on the streets rioting about this system is crazy,
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Yup, some of them believe they paid into it and so are magically getting back what they paid in or something... on average it's a huge transfer from the younger generation to the boomers.

Meanwhile, housing costs are increasing as we restrict building more homes through our planning system. For similar reasons large infrastructure projects can't go ahead or get delayed and overspend.

That in turn impacts the economy - so we have sluggish growth and a working population with higher housing costs having to fund a large group of retirees.

And it's not just pensions, the NHS has had a big increase in funding but that's still not enough to deal with all the elderly people they now have to cope with.

It isn't sustainable - state pension age will need to go up further, the triple lock thing is farcical and by the time the people currently funding it reach retirement they probably won't have a state pension, it will likely be means tested by then with only the poorest eligible...
 
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EvilRob said:
I don't know how people would live only on state pension, even with triple lock. I agree with the comments that state pension age is only going to increase.
It's going to be a miserable existence without a well funded personal pension, trapped into working to an ever increasing age and when you do get to retirement you will be struggling to meet basic needs.
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Basically you probably don't, or at least not in your own home.

IIRC council tax for just a two bedroom house around my way is likely to be about 2 months of the basic pension even if you get the "single occupancy" discount (maybe a week or two less if a single bedroom).
 
Werewolf said:
Basically you probably don't, or at least not in your own home.

IIRC council tax for just a two bedroom house around my way is likely to be about 2 months of the basic pension even if you get the "single occupancy" discount (maybe a week or two less if a single bedroom).
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Again, that’s another good thing about pension credit, 100% council tax reduction
 
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