Flat Rate Pension £144 P.w.

[chaptazbru]

If this does come into force in 2015/16, does this mean that if a pensioner receives more than this because of length of time paying in during working life, it will drop DOWN to £144 p.w. anyway ?

[Kathyan]

I stayed at home to bring up my children so I didn't pay enough stamps to cover my pension. This means that I only get around £35 per week. I can't claim pension credit because my husband is younger than me and still works. He also gets an army pension. So I'm single when it comes to paying in but married when it comes to claiming anything!

[buildersmate]

Chris - I'm sure you latched onto it, but the 'new rules' from 2017 (or whenever) will require 35 contribution years, not the 30 as in the old scheme. Most males are likely to have enough but many females won't - even taking Home Responsibility Credits into play

[factor-fiction]

So will you benefit from the new flat rate pension then Kathyan?
I'm sure there are some who prefer to keep things as they are and some that will welcome the change.

craft- is it this change that's making you feel like a second class system? Or just the fact that you have no control over the state pension you'll get.

[buildersmate]

Kathyrn - your post crossed with mine. You WILL get credits for the years at home bringing up the children. It's what brings Mrs Buildersmate over the necessary 35 years - just!

Get onto the Pensions Agency to get their statement on the number of years you have. Get back onto here if you think they got it wrong.

[Kathyan]

Thanks buildersmate. I'll give them a ring tomorow.

[craft1948]

It's this change factor, as due to Mr Osborne's changes I lose out on both fronts. The increased tax allowance and the new super dooper flat rate.

Oh well there's always the lottery............

[chaptazbru]

But if the tories are out at the next election, these changes won't come into play anyway. A lot of people think they will be out (me included)!

[factor-fiction]

I think the Tories may well be out at the next election, chaptazbru, but are you saying that it would be good news if the planned flat rate pension then gets scrapped?

[buildersmate]

Chaptazbru: you are living in cloud cuckoo-land if you think any alternative future Government will simple not implement these changes once they are inacted by the present Government. What may happen is the rules by which they operate may yet again be changed again at some future point in time.

[sir.prize]

As Buenchico says, only people who attain pensionable age in 2016/17 will be affected by the new £144 pw pension.

Strange that today's Sun Newspaper shows a picture of a lady pensioner followed by the quote:

RETIRED nurse Rita Squire, 78, will not see any immediate change.

She will be £59.65 per week better off once the single flat-rate pension is brought in, but this is not expected to be until 2016/2017.

Rita, from Baguley, Gtr Manchester, who now has a state pension of £84.35 per week, said: “A flat-rate pension is a much fairer way to go about it.

“The thing is, if the cost of living keeps increasing at the current rate, we’ll need even more than that by 2016.”

http://www.thesun.co.uk/sol/homepage/news/politics/4852430/Budget-2013-juggling-act-by-George-Osborne.html

[buildersmate]

Not sure what point you are making Lord Prize?

"see no immediate change ..." true, as in 2016/17 is not 'immediate'

“The thing is, if the cost of living keeps increasing at the current rate, we’ll need even more than that by 2016.” - yes, and even George knows that. The £144 pw is quoted in today's money, it WILL be more in 2016/17.

"A flat-rate pension is a much fairer way to go about it" - those who haven't put into it are bound to say that. Those that have and find those that didn't getting the same will not think it fair.

Moral? - read a better quality newspaper. Sun readers don't care who runs the country provided she has big ...............

[sir.prize]

Builders Buddy - the point I am making is that the lady in question is a current pensioner. I believe the new £144 pw pension only applies to people attaining retirement age in 2016/17. Therefore she will not get the guaranteed £144 pw.

Regarding my choice of reading - I do like Take a Break too!

[chaptazbru]

factor-fiction - No.
buildersmate - I am NOT living in cloud cuckoo land, don't be so damn rude, you cheeky git !!!