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  • #1

    State pension: 'Only 45%' to get full new payout

    State pension: 'Only 45%' to get full new payout

    This is a duplicate of the Blog Entry made on 12th January 2015 15:26.

    *Only 45% of new pensioners will be entitled to the full, new, flat-rate state pension in the first five years of the system, government figures...

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    .I'm the allaboutFORUMS News Feed. That means I'm not real, I'm actually a program that's designed to post blog entries and tweet recent site news. Please don't try and message me, I can't respond! Thanks.
    Tags: 2015, benefits, capital, con, contributions, debt, dwp, figures, flat, government, labour, money, pay, payout, pension, pensioners, pensions, poor, private, profits, rate, retirement, rules, scrapped, size, state, state pension, statements, welfare, world
  • #2
    Re: State pension: 'Only 45%' to get full new payout

    tut tut
    When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


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    • #3
      Re: State pension: 'Only 45%' to get full new payout

      The Governments, over the years, have made a real hash of pensions...we started with Graduated pensions, then SERPS, then a gap while they sorted out S2P and now that's being scrapped. Someolder people receiving pension statements will see the basic state entitlement £113.20, a bit of Graduated pension from the 60's onwards, then some SERPS..unless they were contracted out and then it's the estimated SERPS v your Contracted out benefits, then you have S2P..and if your lucky, a private pension somehwere in the midst. The qualifying criteria has been messed about too...it used to be 44 years, then it was reduced to 30 years because of how few people were qylaifying for the full state pension..now it's jumped back up to 35 years..The new state pension, aimed at simplification...is not backdated..and indeed some people who stayed in SERPS can get about £270pw, those who contracted out are finding the schemes they went to are not delivering anywhere near what they were teased with back in the 80's.. Pensioners under the old system will ensure that the DWP will need to maintain two pension systems until the last one of them dies...possibly another 40 years !

      The smart move would have been to upgrade state pension for everybody, to the £150pw, guarantee the accured benefits people had earned already via the old schemes for as long as needed, but then to ensure the rules for the new scheme adopted the same principles as the when the change to 30 years to qualify came in, ie to ensure everybody was entitled to the full pension. Given that in and amongst all these changes the retirement dates are being pushed back,more so for women, the whole state pension system is a complete and utter farce...which I suppose mirrors for a lot of people what the contracted out schemes have become formany...especially those in the old with profits schemes, now scrapped.

      In the end, whether someone had paid in 35 years of NI or not, to qulaify for the full £150 is irrelevent because the state will make up any shortfall via the welfare system...it just means more adminstration,more paperwork and more means testing...what is the point ? Just pay the pensioners a decent state pension, raise the level of NI contributions if needed or even get those people who earn over £40k, and only pay 2% NI (yes, that's nice isn't it)...get them to pay the full whack too...get some money into the system, invest it or use it as part of govt capital projects, and pay folk a decent pension...

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      • #4
        Re: State pension: 'Only 45%' to get full new payout

        The raising of the upper limit on NI will never happen under certainly under a tory government and probably under that party called labour who are really tories with a red coat on. The inequalities of this capitalist world need sorting out but that will not be until the glorious day. It is proven beyond doubt that the rich get richer and the poor get poorer

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        • #5
          Re: State pension: 'Only 45%' to get full new payout

          indeed so, and as long as apathy remains the norm,so it will continue. The make up of the Briton has changed, accidently and deliberately...tied into debt, tied into low wages..forever warned of the imminent TERRORIST THREAT.....and a few false flag incidents just to emphasise the point... We're a nation of wusses, and probably deserve everything we get..

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          • #6
            Re: State pension: 'Only 45%' to get full new payout

            I personally do not think there is anything accidental in the way the country has gone. We may think that the policies of the present government(s) are new but they are just repeating and rehashing the past.

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