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State Pension on course to for 4% rise

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State Pension on course to for 4% rise

State Pensions on course to rise by 4% from next April

https://www.ftadviser.com/pensions/2019/09/30/state-pension-on-course-for-4-rise/

 

Brian A

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Re: State Pension on course to for 4% rise

Whilst the article is accurate it is also worth noting that if the total amount of pension you get exceeds your personal allowance it will be taxed at 20%. So the final figure will be 20% less than that shown.

Also in the same article is the triple lock being reviewed in 2022 ? You can bet that despite any pre election promises once we reach that date there is likely to be a big drop in any future increases to pensions as the cost to the government has increased each year at a considerable rate.

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Re: State Pension on course to for 4% rise

Very nice too! May those in receipt enjoy it for many years more! Thumbs_Up

And if I'd got my pension when it was promised for all those years I was paying my stamp, I'd really be looking forward to it too! Smiley

Unfortunately, I now have to wait just over 12 months for it.

Mrs. Minesapint has to wait considerably longer for hers, which she would have already been getting.

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Re: State Pension on course to for 4% rise


@gleneagles wrote:

Also in the same article is the triple lock being reviewed in 2022 ? You can bet that despite any pre election promises once we reach that date there is likely to be a big drop in any future increases to pensions as the cost to the government has increased each year at a considerable rate.


It will depend on whether there is to be an election in the "forthcoming future" and who decides which party will be favoured by the old. The way things are going this could be the "Ultra Nationalist Party" - or similar.

"In The Beginning Was The Word, And The Word Was Aardvark."

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Re: State Pension on course to for 4% rise

@VileReynard 

No doubt there will be an election but based on recent events there will be a small group of trouble makers who will claim that some MP's were elected on the basis of lies so the election is null and void with an appeal to the supreme court who will likely agree with them based on some act written centuries ago.

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Re: State Pension on course to for 4% rise

Tempted to respond - but I won't, in the interests of keeping this on-topic. Smiley

"In The Beginning Was The Word, And The Word Was Aardvark."

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Re: State Pension on course to for 4% rise


@VileReynard wrote:


It will depend on whether there is to be an election in the "forthcoming future" and who decides which party will be favoured by the old. The way things are going this could be the "Ultra Nationalist Party" - or similar.


Or maybe the "Just Do What The People Voted For Party"?  Roll_eyes

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Re: State Pension on course to for 4% rise

OK - I'll get a 4% pension increase in April but the cost of fresh food etc will go up by a lot more than that.

Not to mention the shortages of NHS drugs.

3 years ago I voted for the sensible option.

I think we've all seen what happens to democracy when we try to "regain our sovereignty".

Not a pretty sight when the courts have to remind the government that they are breaking the law.

I don't mind paying increased taxes, especially if my income increases - just hope that my taxes are going to a good cause, for example funding the NHS.

 

"In The Beginning Was The Word, And The Word Was Aardvark."

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Re: State Pension on course to for 4% rise

I've deferred my state pension in order to avoid paying tax on all of it, so it goes up by 1% every nine weeks in addition to the annual increase.  Of course I have to live for some 17-20 years to get back the money I've 'lost' by deferring so it's a gamble.  The increase earned by deferring amounts to about 5.8% p.a. whilst under the old state pension that increase was 10.3%.

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Re: State Pension on course to for 4% rise

So after 20 years you would only break even?

It sounds a risky investment strategy - unless you expect to live to 90+ in full health (no hospitals or care homes).

Stays in those institutions mean that no state pension is paid to you.

"In The Beginning Was The Word, And The Word Was Aardvark."

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Re: State Pension on course to for 4% rise

@Minesapint 

"Mrs. Minesapint has to wait considerably longer for hers, which she would have already been getting2

Same with Mrs Minivanman - denied her pension at sixty, she now had/has to wait until next year when she is sixty six. 

Have you been following the court case about it?  If not this might be of interest to you.  

Fingers crossed, and there might even be a rebate! Roll_eyes

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Re: State Pension on course to for 4% rise

Not very long to wait for the judgement this Thursday at 10am will be very interesting

All because some London Firemen companied that women received their pension at 60 not 65

Then we had the Barber report/judgement May 1990  a long time ago

 

Brian A

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Re: State Pension on course to for 4% rise


@VileReynard wrote:

So after 20 years you would only break even?

It sounds a risky investment strategy - unless you expect to live to 90+ in full health (no hospitals or care homes).

Stays in those institutions mean that no state pension is paid to you.


You may wish to check that last statement.....

Many benefits are stopped if you go into hospital for longer than 28 days....BUT....from what I can see on the internet your State Pension will continue to be paid irrespective of how long you are in hospital.

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Re: State Pension on course to for 4% rise

@Minivanman No we hadn't been following it. It's been "a bit of a several years" one way or another.

Thanks for that, and the link. Thumbs_Up

Be interesting to see what the review has to say.

 

I don't mind mine having been delayed for a year in some ways, I realise all this stuff has to be "affordable". In other ways, they haven't honoured what was if not  "agreed" then at least "understood" when we paid our NI for all those years.

I think it's been most unfair on the ladies who've had six years taken off them though.

 

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Re: State Pension on course to for 4% rise

@Anonymous 

A quick look ate that report and noted that; 

"...characterized by the fact of being established either by an agreement between workers and employers" - so I wonder if that can be applied to the government as there was no agreement as such only an understanding that the pension would be paid when the pension was due.

If they cannot wriggle out of it it's going to cost them dear if there are monies to be paid back - we might be able to buy one of those electric cars after all. Wink