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Old Age Pension...More Lunacy.

Community Veteran
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Registered: 02-08-2007

Old Age Pension...More Lunacy.

So they plan to increase the Old age pension to £140 a week.........Great news.
One day later we learn that this will only apply to new pensioners from a date yet to be decided.
So if you have paid in 10 years of NI contributions and you reach retirement age one day before the decided date you get  £34.00 a week.
If you retire one day after having paid no contributions you will get £140.00 a week.
In my opinion they should pay the £140 now along with a lump sum linked to the number of years you have already spent in retirement as compensation for the money they have stolen from pensioners and frittered away on various useless schemes.
11 REPLIES
Community Veteran
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Re: Old Age Pension...More Lunacy.

Quote from: gleneagles
So they plan ........................................
One day later we learn ..................................

1. It's not a plan, it's some ideas that will be put forward for discussion later (this year?).
2. Learn where, I missed that (a link is useful)
As I get nearer to 65 with a pathetic occupational pension this is very much of interest, but I look for FACTS.
Community Veteran
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Re: Old Age Pension...More Lunacy.

Quote from: gleneagles
In my opinion they should pay the £140 now along with a lump sum linked to the number of years you have already spent in retirement as compensation for the money they have stolen from pensioners and frittered away on various useless schemes.

What various schemes would they be then?
Community Veteran
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Registered: 30-07-2007

Re: Old Age Pension...More Lunacy.

I found out last week that, not being content with 6% of everything I earned for 25 years, and 7.25% of everything I earned for a further 5 years, they intend taking 10% of everything I earn for the next 15 years, before they'll allow me a pension.  I'm a bit inclined to ask them to just give me everything I've paid in (with 30 years of bonuses), and invest it myself.  It adds a whole new meaning to "more with less" Embarrassed
John
pierre_pierre
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Re: Old Age Pension...More Lunacy.

Quote from: HPsauce
Quote from: gleneagles
So they plan ........................................
One day later we learn ..................................

1. It's not a plan, it's some ideas that will be put forward for discussion later (this year?).
2. Learn where, I missed that (a link is useful)
As I get nearer to 65 with a pathetic occupational pension this is very much of interest, but I look for FACTS.

er be the link  http://www.bbc.co.uk/news/uk-politics-11618019
Community Veteran
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Re: Old Age Pension...More Lunacy.

Well that report says (ignoring all the speculation)
"The Department for Work and Pensions said proposals for reform would be published later this year in a Green Paper."
Nothing to support the OP's cutoff date theory.....
"a green paper is a tentative government report of a proposal without any commitment to action; the first step in changing the law. Green papers may result in the production of a white paper"
Community Veteran
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Re: Old Age Pension...More Lunacy.

This is exactly as I understand it HPsauce.
pierre_pierre
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Re: Old Age Pension...More Lunacy.

did you click the not obvious link to the Daily Mail in the BBC article  http://www.dailymail.co.uk/news/article-1323447/140-pension-Boost-stay-home-mums-married-couples.htm...
not found an equally bad one in the Express
Community Veteran
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Re: Old Age Pension...More Lunacy.

Daily Mail, Express?
I don't read fiction.....  Grin
Community Veteran
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Re: Old Age Pension...More Lunacy.

Artmo,
You asked for examples of various schemes that I claim the Government frittered our money away on. Well I guess you could stop the average person in the street and get them to give you an example of what they thought the government was or had wasted our money on, from some of the non jobs advertised in the Guardian or the vast amount of money sent in overseas aid which never reached the people it was intended for.
No Doubt your response will be " that's your opinion", so I doubt I could ever offer you a scheme that you would accept as having been a waste of money.
HP Sauce,
True there is nothing to support the cut off date, other than what was in the press, but and it is a big but, where did such a date come from ? Yes it could have been made up by the press but it is just as likely to have been added to test the public response.
On a personal level I am getting the Old Age Pension following a lifetime of making NI Contributions so the facts are just as important to me.  I accept that the sooner we know the facts rather than press reports the better. 
Community Veteran
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Registered: 12-08-2007

Re: Old Age Pension...More Lunacy.

Not at all gleneagles, the examples you give are valid but from the previous government. The non-jobs are being stopped, and about time.  Overseas aid is being scrutinized to see it reaches the right people, although I feel we are sending far to much money abroad at a time when we are forced to make cuts here.  Charity begins at home.  I have contacted my MP on this matter.  If more people did likewise we might get a change of heart. 
Community Veteran
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Re: Old Age Pension...More Lunacy.

Quote from: artmo
The non-jobs are being stopped, and about time. 

We'll see, all governments "spin" what they want to do, especially if it's for ideological reasons. This one appears no different.
(e.g. non-jobs will be the jobs they want to get rid of, irrespective)
I've just read an analysis which concludes that the "bonfire of the quangos" will cost a fortune in the short term (literally billions) and take around 20 years to pay back.
Common sense would say that if true it's exactly the sort of "change for changes sake" that shouldn't happen.