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Jimmy
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Lancashire
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Posts: 1,875
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22-08-2014, 10:57 PM
21

Re: State Pension Changes

Originally Posted by Lindyloo ->
No - sorry. I really don't think that's correct - in fact, I'm sure it's not.
Can you find a link which proves that? I can provide a link which calculates pension given the NUMBER OF YEARS contributions, but certainly not the amount paid.
No I can not find a link because the pension system has now changed. But it is a fact, the more you were paid the more NI and tax you paid, and your pension was paid on the amount of NI you paid in.
My brother, my two brother in laws and myself both worked for 50 years, and all get different state pensions, there was no fixed pension on the old system.
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Elbee
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Chichester
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Posts: 245
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23-08-2014, 06:49 AM
22

Re: State Pension Changes

Interest rates are being deliberately kept low so people who can't afford to buy homes can afford to. It is their wages that shoudl be higher not borrowing costs lower.

As for pensions, this government has done me a favour.
I can get my hands on all my pension fund as I want it without having to buy an annuity. That means I can draw out £10,000 a year without paying any tax on it (as I dont earn anything)
Then I will get the state pension at 66.

I calculated, that if I was working, I would only be paid for 6 months as the previous six months would all be lost in Tax, NI, expenses for work such as clothes, transport and holidays to get over the work!

Better off not working I say!
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Jimmy
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Lancashire
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23-08-2014, 12:46 PM
23

Re: State Pension Changes

Originally Posted by Lindyloo ->
No - sorry. I really don't think that's correct - in fact, I'm sure it's not.
Can you find a link which proves that? I can provide a link which calculates pension given the NUMBER OF YEARS contributions, but certainly not the amount paid.
After paying into the Graduated pension scheme I also paid a lot into the Serps scheme.

http://en.wikipedia.org/wiki/State_E...Pension_Scheme

Note this bit.

General principle

The purpose of the scheme was to provide a pension related to earnings, in addition to the basic state pension.
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Lindyloo
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isle of wight
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24-08-2014, 10:21 AM
24

Re: State Pension Changes

I thought the post I was referring to, was about the new single tier pension - not the old system with graduated contributions /SERPS etc
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Jimmy
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Lancashire
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24-08-2014, 12:05 PM
25

Re: State Pension Changes

Originally Posted by Lindyloo ->
I thought the post I was referring to, was about the new single tier pension - not the old system with graduated contributions /SERPS etc
No, the post you questioned me about was post number 17, when I was explaining about the pension Mollie has.
just check back
Myra
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my wee toon
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24-08-2014, 03:45 PM
26

Re: State Pension Changes

I'll be 66, another 10 years time, before I get a State Pension. I may well have kicked the bucket by then......
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24-08-2014, 04:52 PM
27

Re: State Pension Changes

Originally Posted by alice76 ->
I'll be 66, another 10 years time, before I get a State Pension. I may well have kicked the bucket by then......
But then again hopefully you'll live another 40.....
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susiejaeger
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Essex, UK
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24-08-2014, 06:39 PM
28

Re: State Pension Changes

Same here Alice, I have to wait until I'm 66 for a State Pension and my Bus Pass.
 
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