Pensions - Ouch!

Big changes are a coming - for the worse too .

Pension changes will mean millions of people are worse off, TUC says
(BBC News link - safe)

Re: Pensions - Ouch!

If millions will be worse off it's bad but if millions are also better off I am afraid I think it may be a necessary cut.

We have long had some pensioners who are treated better than others, time to even up the system. Also they say people will be affected who are decades from retirement and as I have learned they change the rules all the time, so people who now seem to be worse off my be fine or we may have no pensions by the time they retire, who knows ..

Re: Pensions - Ouch!

Ah well, at least those in government manage without their pockets being hit too hard and that seems to be the priority for them.

Taking from a begging bowl also seems to have become an acceptable thing to do. Sad.

Re: Pensions - Ouch!

Too true Karen, these people seem to have no scruples.

Re: Pensions - Ouch!

Ha! Come on over to the US Congress... Not a scruple to be found there either. Our so called Representatives make $170,000 a year. PLUS they get fully paid for health insurance that pays everything. The Conservatives however are trying to cut Social Security (old age pittance) and end Medicare (health care for 65 and older) AND defund our new Affordable care act.. ObamaCare. Apparently killing off the American people is a priority for them. However preserving or increasing tax cuts for the very wealthy and Corporations is also a priority...

Re: Pensions - Ouch!

I'm already calculating that I will just get the basic, not the additional, so am cutting my cloth accordingly! Surprises me though that they've not long reduced the qualifying period of NI payments from 39 down to 30, now they're saying it's 35. Wish they'd make their minds up.

Re: Pensions - Ouch!

I'll qualify before the new rates come into force, but since I was 'contracted out', I would only get the basic pension anyway. Dianne will get the new rate, but probably has less that 35 years, so it will be pro-rate and probably about the same as the old rate - just years late - thank you government !!

I'm just happy that we will have occupational pensions which should give us a semi-decent standard of living. That seems to be the way it's going - provide for yourself because the state isn't going to.

Re: Pensions - Ouch!

That has gone through my head about us - is it like some kind of culling? I suppose it's one way to get the population down

Re: Pensions - Ouch!

Well, as a pensioner for almost four years, I had to work 42 years full time to get full pension, which I am unable to live on, hence my continuing to work part-time and, as far as I can see, I shall have to continue working until I drop.

I live off my weekly income and have no savings whatsoever so yep, it's a struggle, but there's nothing I can do about it.