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SINGLE OAP PENSION

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Jeddo,

Thanks for the explanation, but, in your para 4 you say I won’t get the full State Pension.

On the contrary, I seem to get an even higher  State Pension than most, despite, apparently being contracted  out for twenty years. I get over £206 pw, I’m not complaining at all.

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5 hours ago, spilldig said:

Our state pension is scandalous. It is the lowest state pension in the civilised  world. The average working week is 40 hours and on our own government's stated MINIMUM, that should work out as £ 328.40 per week for each and every pensioner. If the government won't pay that then they have no right to go quoting any minimum amount.

But that's minimum wage for working, not for not working...

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1 hour ago, Anna B said:

I also have full NI contributions for 35 years and as a teacher for some of that time I assume I was contracted out. When i retired I just missed the new rate by a month. I am at least £25 a week short of the £168 new rate. That works out at £1,300 a year (or £26,000 over 20 years) down. I get a small works pension so not entitled to any extra state pension 

The new £168 only applies to people with 35 years of NI contributions AND have not contracted out at any time AND came into the scheme after April 2016.

Every week you were "contracted out" reduces the amount.

 

You are on the pre May 2016 scheme and so you are getting a lower maximum and the "contracted out" weeks do not count.

Had you been in the new post April 2016 scheme, if you had been in "contracted out" jobs for 35 years e.g. teaching you would also be about £25 a week short of the £168 on the new rate.

So you have not lost out as much as you think. It is a sliding scale.

 

Many people on here who are "more" on the old scheme paid into a State Earnings-Related Pension Scheme (SERPS) from 1978 and from 5 April 2002 the State Second Pension i.e. "contracted in". 

 

 

 

 

 

 

 

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13 hours ago, Cyclone said:

But that's minimum wage for working, not for not working...

Does one person require less to live on than another person ?   To me a minimum is a minimum, or don't start qouting a minimum.

19 hours ago, ANGELFIRE1 said:

As a 69 year old I await my £328.40 pension arriving, but not in my lifetime I suspect. There are too many sucking on the teat of plenty to be able to pay us a decent pension.

 

Angel1.

I suspect you are correct.

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20 hours ago, Janus said:

Mossway:

Contracted out is

basically when an employee has paid in to a company pension scheme. They would not have been taxed on the part of their wages that went in to the company scheme. Thus they get  a state pension that is a bit less.

Utter nonsense.
 

Contracting out is when you have literally contracted out.   Paying into a company or private pension scheme is NOT contracting out.

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7 hours ago, spilldig said:

Does one person require less to live on than another person ?   To me a minimum is a minimum, or don't start qouting a minimum.

I suspect you are correct.

You realise that the minimum wage doesn't somehow guarantee that you can work 40 hours a week though... It guarantees minimum pay for an hours work.  So OAPs should be paid that minimum for every hour that they spend working.  It's totally unrelated to pensions though.

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3 hours ago, Cyclone said:

You realise that the minimum wage doesn't somehow guarantee that you can work 40 hours a week though... It guarantees minimum pay for an hours work.  So OAPs should be paid that minimum for every hour that they spend working.  It's totally unrelated to pensions though.

Yes I know how it works, and hopefully how it should work. So first we have a minimum which, to my mind, means that to live properly you should have just that. If a working person needs that amount then so does an OAP and therefore it should apply to pensions.  Ok, so the next thing is how can an amount to live on be based on an hourly amount ? It's nonsensical.   Are they saying that someone who works 30 hours has enough, or 20 hours or one hour earning  £8.21 is enough to live on ?

Obviously whatever amount they set should be based on a weekly wage, If someone gets below that minimum then it's no a minimum.

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Remember the earnings of so called OAP’s on  minimum wage is a tad enhanced because they don’t pay NI Contributions

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10 hours ago, Mossway said:

Remember the earnings of so called OAP’s on  minimum wage is a tad enhanced because they don’t pay NI Contributions

And ideally they shouldn't be raising a family, they should hopefully own their own house, they get a free bus pass, and generally have lower outgoings.

Also people should be saving for their retirement, the state pension hasn't for a long time been enough for a comfortable retirement.

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17 hours ago, Mossway said:

Remember the earnings of so called OAP’s on  minimum wage is a tad enhanced because they don’t pay NI Contributions

I'm sure that if OAP's  got £328 per week they wouldn't mind paying the same stoppages as everyone else.

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7 hours ago, Cyclone said:

And ideally they shouldn't be raising a family, they should hopefully own their own house, they get a free bus pass, and generally have lower outgoings.

Also people should be saving for their retirement, the state pension hasn't for a long time been enough for a comfortable retirement.

So, on that basis, a working person who is single would  receive less pay than a working person with a family ?  Any working person who is fortunate enough to own their property should receive less pay for the same job as a co-worker who rents their property ?  As for free bus passes, with strings attached , the government should hang their heads in shame for treating elderly people like second class citizens rather than paying a state pension commensurate  with a civilized  country.

 

 

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Pensioners should not be totally reliant on the state for providing for them in retirement. 

 

You reap what you sow. So if you plan for the minimum, do you really deserve more?

 

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