pension

[luco1110]

how much is the old age pension at the moment
thank you

[factor-fiction]

Maclarencat: " I think it will be eroded away in the same way the health service has been diminished"
Two things:
(1) the government's proposals today seem to indicate a commitment to delivering an improved state pension
(2) In what way has the service been diminished? This may help debunk that myth:
http://www.ohe.org/li...FTOKEN=52987077health

[jamesnan]

The way we have heard it explained several times on tv, is that the new proposed amount will not apply to all those people at present receiving the pension - they will continue to receive the existing amount and only new pensioners will receive the increased amount. Are we hearing this right? ie those people who really need a good basic amount, without receiving pension credits, will not get it.

[New Judge]

As always, jamesnan, the devil will be in the detail which has not yet been published (or perhaps even thought through).

However, as I understand it, the new guaranteed amount (which is variously reported between £140 and £155) will only apply to those people who reach pensionable age after the new scheme is introduced (which is currently planned for 2015 or 2016.

The basic State pension by then will probably be around £115. Anybody reaching State pension age the day before the new scheme is introduced will receive this amount and they need 30 NI Contributory years to qualify. Anyone reaching pension age the following day will receive the new rate (up to £2,000 more per year) and (again as far as I understand) no NI qualification will be necessary.

We already have a two-tier state pension scheme (disregarding those who receive a “pension” having never contributed a penny). There are those who have their pension payments based on needing 39 (for a woman) or 44 (for a man) contributing NI years. Those with less have their pension reduced. Then there are those who qualify for a full pension having only contributed for 30 years. And now we will have a third category of those who will receive the new full amount, considerably in excess of the current rate, who may not have contributed anything like 30 years.

And that, we are told, is “fair”.

[jamesnan]

Interesting, NewJudge, the government announced that "Everyone" will get the new rate, and now there is the probablity that it will only be "new" pensioners, and since I am a married woman and get my pension through my husband's contributions,and mine goes up next week to £63 - how is it "everyone" who will be getting the higher amount?
Come on, tell the truth for once - it will not be everyone!!!