cressida Posted March 8, 2011 Share Posted March 8, 2011 http://www.citywire.co.uk/money/duncan-smith-pushes-on-with-140-state-pension/a477080?ref=citywire-money-latest-news-list £140 flat rate for everyone - what about cost of living increases? Link to comment Share on other sites More sharing options...
andyofborg Posted March 8, 2011 Share Posted March 8, 2011 i believe that the current system of determining increases will be applied to the new rate Link to comment Share on other sites More sharing options...
cressida Posted March 8, 2011 Author Share Posted March 8, 2011 Thanks Andy, I'm speculating as to whether the Opposition will agree with IDS and if they don't will they change anything when they get into power next time, hmmm Link to comment Share on other sites More sharing options...
Gormenghast Posted March 8, 2011 Share Posted March 8, 2011 http://www.citywire.co.uk/money/duncan-smith-pushes-on-with-140-state-pension/a477080?ref=citywire-money-latest-news-list £140 flat rate for everyone - what about cost of living increases? But I doubt it will be applied retrospectively, so all the women who don't get a full pension now won't get one when this comes into force. Link to comment Share on other sites More sharing options...
andyofborg Posted March 8, 2011 Share Posted March 8, 2011 at first site this actually appears to be a good thing, we shall see what it looks like when the fine detail has been examined Link to comment Share on other sites More sharing options...
Mecky Posted March 8, 2011 Share Posted March 8, 2011 Fact is is that if the government keeps telling us we don't save enough for our pensions, then shouldn't our employers be paying us workers more? I would gladly put more away if I could, however there is hardly anything left after living expenses. Link to comment Share on other sites More sharing options...
quisquose Posted March 8, 2011 Share Posted March 8, 2011 I don't agree with IDS on most things, but he is right in this instance. A mate of mine has just retired, and he was moaning to me just last week about a mate of his that hasn't worked in years getting state pension & benefits, whilst he just gets state pension because he's saved some money. Link to comment Share on other sites More sharing options...
Ms Macbeth Posted March 8, 2011 Share Posted March 8, 2011 I don't agree with IDS on most things, but he is right in this instance. A mate of mine has just retired, and he was moaning to me just last week about a mate of his that hasn't worked in years getting state pension & benefits, whilst he just gets state pension because he's saved some money. Snap. Pension credit has done many pensioners no favours. Anyone with even a small private/occupational pension, (which they may have scrimped for) can end up only marginally better off than if they'd not put a penny by during their working lives. It would have been much fairer to give everyone at least the same basic, and used income tax against big private pensions. However, I'm fairly sure this suggestion of IDS won't be for those of us who are already retired. Link to comment Share on other sites More sharing options...
RonJeremy Posted March 8, 2011 Share Posted March 8, 2011 Snap. Pension credit has done many pensioners no favours. Anyone with even a small private/occupational pension, (which they may have scrimped for) can end up only marginally better off than if they'd not put a penny by during their working lives. It would have been much fairer to give everyone at least the same basic, and used income tax against big private pensions. However, I'm fairly sure this suggestion of IDS won't be for those of us who are already retired. That was the trouble with the last government, they made it more attractive not to work and not to save. So many people didn't work and wouldn't work so they encouraged immigration to "change the face britain" and "fight the forces of conservatism" that is one of the reasons we are in the mess we are today. This pension plan seems sensible, if it is affordable in the long run. Link to comment Share on other sites More sharing options...
SimpyTimpy Posted March 9, 2011 Share Posted March 9, 2011 Just seen this snippet from the article: " Some higher earners with a full NI contribution track record are already receiving £200 a week or more. " It does seem to penalise those who have worked hard to ensure they've always contributed to National Insurance. I understand some of the benefits, but find it interesting that they've gone for a "middle ground". Perhaps not a massive issue in this case, but it does seem to suggest that going the extra mile will not reap its rewards. Just my take on it though. Link to comment Share on other sites More sharing options...
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