Jump to content
House Price Crash Forum
Sign in to follow this  
Frank Hovis

Now Work 35 Years For A Full State Pension

Recommended Posts

Planned increase up from 30 years.

Is this widely known? A few years ago it was going to be dropped to 20 as it was discriminating against mothers who had career breaks to raise families, I entirely agreed with that, now upping it to 35 years so anybody with a degree will be working until 56 to get full state pension which is a real let down.

Full will be £144 a week so not to be sniffed at.

Share this post


Link to post
Share on other sites

For many this is irrelevant. The "rearranging the deck-chairs on the Titanic" analogy is perfect here.

Anyone below the age of 40 can expect to receive little or no state pension, full stop. Whether you have to work 30 years, or 35 years, whether it's "fair" to mothers who take a career break or not, the fact remains that the country is broke. The promises won't be kept.

Share this post


Link to post
Share on other sites

For many this is irrelevant. The "rearranging the deck-chairs on the Titanic" analogy is perfect here.

Anyone below the age of 40 can expect to receive little or no state pension, full stop. Whether you have to work 30 years, or 35 years, whether it's "fair" to mothers who take a career break or not, the fact remains that the country is broke. The promises won't be kept.

If it's going to go toes-up, it will happen before then. The demographics move back in favour of pensions for the under-40s by the time they retire as most of the boomers will have gone by then (more or less).

Share this post


Link to post
Share on other sites

The demographics move back in favour of pensions for the under-40s by the time they retire as most of the boomers will have gone by then (more or less).

Give it a couple of months of no pension and most of the boomers will have starved. Problemo solved.

Share this post


Link to post
Share on other sites

Planned increase up from 30 years.

Is this widely known? A few years ago it was going to be dropped to 20 as it was discriminating against mothers who had career breaks to raise families, I entirely agreed with that, now upping it to 35 years so anybody with a degree will be working until 56 to get full state pension which is a real let down.

Full will be £144 a week so not to be sniffed at.

It was 40 years contributions from age 16. Years in education count as do years when registered unemployed. It's possible to pay voluntary contributions for any missing years. It dropped to 30 years quite recently, so going back to 35 is not really a big deal for most people.

Share this post


Link to post
Share on other sites

Planned increase up from 30 years.

Is this widely known? A few years ago it was going to be dropped to 20 as it was discriminating against mothers who had career breaks to raise families, I entirely agreed with that, now upping it to 35 years so anybody with a degree will be working until 56 to get full state pension which is a real let down.

Full will be £144 a week so not to be sniffed at.

source? link?

Share this post


Link to post
Share on other sites

If the government don't pay it, then you will see civil disobedience from what will be the majority of the population.

Problem is sending everyone to jail doesn't work as that is more expensive.

Share this post


Link to post
Share on other sites

NI records

There what I'm talking about. The NI records are a mess. Think about it, it's the government recording stuff over decades across ever changing manual and electronic systems. If you're much over 30 your data's already been through 3 or 4 IT debacles, and will go through several more before you retire.

Share this post


Link to post
Share on other sites

There what I'm talking about. The NI records are a mess. Think about it, it's the government recording stuff over decades across ever changing manual and electronic systems. If you're much over 30 your data's already been through 3 or 4 IT debacles, and will go through several more before you retire.

Maybe, it is of course the NI records that determine your eligibility.

If the records are incorrect how can you prove they are wrong?

Not many people keep their payslips or P60s for decades.

Try this link to get GOV.UK's explanation.

Share this post


Link to post
Share on other sites

Give it a couple of months of no pension and most of the boomers will have starved. Problemo solved.

Unlikely as unlike your generation most boomers know that food needs to be grown before it appears Tescos or McDonalds. With their processed food and processed lifestyles the post boomers really don't need to worry about pensions.

Share this post


Link to post
Share on other sites

If the records are incorrect how can you prove they are wrong?

Not many people keep their payslips or P60s for decades.

If nobody has records then either everybody gets it, nobody gets it, or you end up with a fudged mess based upon estimates, lies, bluff and bluster.

Share this post


Link to post
Share on other sites

Planned increase up from 30 years.

Is this widely known? A few years ago it was going to be dropped to 20 as it was discriminating against mothers who had career breaks to raise families, I entirely agreed with that, now upping it to 35 years so anybody with a degree will be working until 56 to get full state pension which is a real let down.

Full will be £144 a week so not to be sniffed at.

I think the main point here is that if you retire in 2015, as I do, the basic pension is £110. People who retire one year later in 2016 will get £144. Now tell me my logic is wrong, but there are 2 people retired here, me and someone one year younger. We are both retired, yet the other guy gets more money.?????????? For what it's worth, I have more than 35 years NI.

I complained to the DWP and they come back with "it won't cost the country any more" and "it will simplify the system" and more political 'positives'. It took 3 emails, but eventually they admitted I will get less.The bottom line is I will get paid less, yet I have paid my due share into the system.

Share this post


Link to post
Share on other sites

If it's going to go toes-up, it will happen before then. The demographics move back in favour of pensions for the under-40s by the time they retire as most of the boomers will have gone by then (more or less).

Indeed

I remember that demographic chart, I'm in the age group squeezed in at the waist, so barring multiple state collapses, the workers to walking corpses ratio should rebalance. I guess the plan is all the states have to suck it up until the boomers have gone.

It is strange though how all of a sudden everyone is having babies over the last 10 years. It's almost as if someone has put something in the water...

Share this post


Link to post
Share on other sites

I think the main point here is that if you retire in 2015, as I do, the basic pension is £110. People who retire one year later in 2016 will get £144. Now tell me my logic is wrong, but there are 2 people retired here, me and someone one year younger. We are both retired, yet the other guy gets more money.?????????? For what it's worth, I have more than 35 years NI.

I complained to the DWP and they come back with "it won't cost the country any more" and "it will simplify the system" and more political 'positives'. It took 3 emails, but eventually they admitted I will get less.The bottom line is I will get paid less, yet I have paid my due share into the system.

Ah, I assumed that when the £144 came in it would also be applied to people already retired with 35 years' contributions, so you get a boost if you've got anything over (say) 30 years NI. That's being glossed over then.

Share this post


Link to post
Share on other sites

It was 40 years contributions from age 16. Years in education count as do years when registered unemployed. It's possible to pay voluntary contributions for any missing years. It dropped to 30 years quite recently, so going back to 35 is not really a big deal for most people.

I hadn't heard that. So 2 years A levels plus any years doing degree / post grad all count? I paid to cover a two year gap when I did a postgrad and didn't see an exemption for being in education, unless it's just 16-21?

Share this post


Link to post
Share on other sites

I think the main point here is that if you retire in 2015, as I do, the basic pension is £110. People who retire one year later in 2016 will get £144. Now tell me my logic is wrong, but there are 2 people retired here, me and someone one year younger. We are both retired, yet the other guy gets more money.?????????? For what it's worth, I have more than 35 years NI.

I complained to the DWP and they come back with "it won't cost the country any more" and "it will simplify the system" and more political 'positives'. It took 3 emails, but eventually they admitted I will get less.The bottom line is I will get paid less, yet I have paid my due share into the system.

It seems to work the other way if you have substantial SERPS and State Second Pension entitlements. However, when I last checked, there seemed to be a system in place whereby those close to the changeover date should not lose out. On balance, though, I think I'll be better off with the old rules and am hoping they don't bring the changes forward a year, which would put me under the new rules.

Share this post


Link to post
Share on other sites

There what I'm talking about. The NI records are a mess. Think about it, it's the government recording stuff over decades across ever changing manual and electronic systems. If you're much over 30 your data's already been through 3 or 4 IT debacles, and will go through several more before you retire.

Aren't there several cases of people having shared a NI number?

http://www.bbc.co.uk/ouch/messageboards/NF2322273?thread=5260896

"in a nutshell for twenty years myself and a woman of the same name and DOB of been using the same NI number!

"

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   215 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.