Pension Rise

On Thursday night when I got home from work I found a suspicious looking brown envelope on the floor in my hall. I don't like brown envelopes as they usually contain trouble of some sort so I was a bit reluctant to open it.

However, taking the bull by the horns, I ripped it open only to discover that my pension will be increased on 9 April (or soon thereafter) by a whole £4 per week!

How exciting. Hold the front page. Be still my palpitations of incredible euphoria!

It's better than nowt I suppose. So, what fantastic things will you do with yours? Have an extra line on the lottery? Have an extra 30 minutes with your gas fire on? The possibilities are endless!

Seriously though, I am humbled that we of the older generation have been seen fit to give us a little extra to see us through the autumn of our lives.

We got chatting about this at work today and the young lady I work with said it was unfair after putting in 40 odd years of full-time work, only to be given a pittance. She's about 35 years old and I said that, in a way, we were lucky because, by the time she reaches retirement age there'll be no state pension, and relying on private pensions was very rocky to say the least.

What do others think of the current system?

Incidentally, and I'm not prying, but what is the minimum state pension payout for a single person these days?

Re: Pension Rise

It varies, It goes by the years you've worked and paid in. I have several friends who have retired and we each get a different rate. For those on the lower rates it can be topped up with Pension Credits...the new name for Income Support if it's paid alongside the State Pension.

Re: Pension Rise

The minimum pension, including pension credit is £137-35 for a single person, and £209-70 for a couple, it will go up by a few pounds in April.

Re: Pension Rise

It may not be much of a rise, and will as you say go nowhere. We all work, pay our taxes and insurance, to be paid a pittance, at the end.
When people seem to come into the country, and get paid Income Support, or whatever they get straight away. But have not paid tax or insurance.
This I have never understood. If we go to live in another country. I don't think they would keep us for nothing.
I now have to work till I am 66 to get a pension, my private pension will probably worth about 50p a week by then.

My daughter got family credit of £40 month, which helped with the children's dinner moneys. She got a brown envelope the other day, to say, she will not be getting it anymore after April. So children will be going on Pack lunches.
I see that the unemployed have got a rise, Does it pay to work in this country. So many family's are in a mess theses day's mostly through no fault of their own.
Young or Old, all people want is a job to pay the bills.

Re: Pension Rise

No Shaz, it doesn't pay to work, even the people who have never worked and payed NI will be entitled to the £137-35 a week, even though they have not payed in.

Re: Pension Rise

It's a good job some of us have worked, and paid Tax and Insurance, or their would be no money for anybody.

Re: Pension Rise

I've retired, and I'm still paying tax

Re: Pension Rise

At least you have a state pension Mollie. I am going to have to wait til I'm 65 til I can claim mine. Thankfully I have a number of private pension schemes which should still enable me to retire at 60 with any luck. I've paid into the system for 40 years but they keep moving the goalposts

Re: Pension Rise

well then you cant be skint can you if you have enough money to have to pay tax. You cant have it all ways I dont understand people they moan when they are broke they moan when they have money. Just be glad to be alive I am

Re: Pension Rise

The point is Poppycock, people who have worked and saved are sometimes worse off than the workshy who have never paid a penny into the system, but are allowed to claim everything.