Your State Pension

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GrumpyGregry

Here for rides.
https://www.gov.uk/yourstatepension

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What about you (lot)?
 
I have a feeling that this will be like a carrot on a stick, in view but unobtainable as the age goes further and further back

BY the time today's kids get to their pensionable age it will probably be about 90
 

srw

It's a bit more complicated than that...
I have a feeling that this will be like a carrot on a stick, in view but unobtainable as the age goes further and further back

BY the time today's kids get to their pensionable age it will probably be about 90
Either that or hollowed out so much that it won't be enough to live on. Today's pensioners are the one group of benefit claimants who have been mollycoddled by successive governments. The trouble is - that's unaffordable. As a country we have enormous unfunded public sector pension liabilities - state pension and various public sector schemes - hanging around our necks, and no government has been brave (or foolish) enough to stand up and say so.
 

Beebo

Firm and Fruity
Location
Hexleybeef
There is an intersting juxtaposition between this post and your AA Gill post, do we live for today and let tomorrow worry about itself, or do we save for our retirement.
As much as i like "live each day as it is your last" i cant help thinking it is somewhat foolish to do this.
I have some a private pension, money in the bank and some equity in my house, if i wanted to take the kids to Florida every year i probably could, but saving seems sensible to me.
I reserve the right to change my mind on this.
 

Oxo

Guru
Location
Cumbria
Either that or hollowed out so much that it won't be enough to live on. Today's pensioners are the one group of benefit claimants who have been mollycoddled by successive governments. The trouble is - that's unaffordable. As a country we have enormous unfunded public sector pension liabilities - state pension and various public sector schemes - hanging around our necks, and no government has been brave (or foolish) enough to stand up and say so.

I get a state pension after paying NI contributions.
I get a public sector pension after paying superannuation for over 40 years.
I think being labelled a benefits claimant is a bit harsh.
 

gavroche

Getting old but not past it
Location
North Wales
Surely, if you take equity on your house, your kids will pay for it when you die as your inheritance to them will go instead to some big organisation on interests on your equity. No thanks, not for me. I did consider it once but I do not wish to cheat my children of what should be theirs when I go.
 

srw

It's a bit more complicated than that...
I believe the current basic state pension is £119 a week. So that's 'enough to live on' is it?
People do, and in any case anyone on the absolute basic state pension only has other benefits available. http://www.ageuk.org.uk/money-matters/claiming-benefits/pension-credit/what-is-pension-credit/

And I think you know that's not what I'm talking about. The welfare state is about a package of state-provided benefits, in cash and in kind (free healthcare). Successive governments have inserted a wedge between people on one state cash benefit (the state pension) and people on other state cash benefits (related to unemployment, disability and long-term sickness). One is made easy to claim and has had its basic amount protected and increased. Others have been made very difficult to claim and the very concept of being a "benefit claimant" - i.e. claiming what you are entitled to as a citizen of a civilised country - has been made a term of abuse.

And, right on cue, to prove my point...
I get a state pension after paying NI contributions.
I get a public sector pension after paying superannuation for over 40 years.
I think being labelled a benefits claimant is a bit harsh.

I see being a citizen of a country that supports those who cannot support themselves, whether because of age, infirmity or bad luck, as a matter of pride. I'm ashamed that governments have not had the foresight to invest for the future, or the integrity to admit that what they're promising is unaffordable without tax rises.
 
2036 for me apparently. I have alternative arrangements!


Not going off topic, but.....

So did many of us.

We took out sensible investments that would have provided additional income, but with teh present poor interest rates for savings, ISAs etc there is a massive shortfall between the plans and reality
 

gbb

Legendary Member
Location
Peterborough
£203 a week.
One day I will find out what happened to the years and years worth of SERPS I paid. It stopped without me realising when I changed jobs 15 years ago. Perhaps it is in that £203.

Then my wife who was a mother and housekeeper primarily for many years so didn't really contribute, her pension despite that will be £153 a week, not bad considering how little she's contributed compared to mine.
 
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