Re: State Pension Changes
It is all so very wrong but, if you were born after a certain year - 1951 - I think, then the age qualification for state pension is advanced to a later time.
I was born in 1949 and worked full time from age 15 until the age of 60, giving me 45 years working, paying full tax (same as a man) and NI into the system, for which I now receive the princely full state pension sum of £149.68 per week when I turned 60, almost 5 years ago so, stevmk2, if you get £168.51 a week, then I wanna know, 'cos I've paid in the same amount as you.
I consider myself lucky because I was born "at the right time" but I feel for those born later who will receive a pittance at a later age and have to work later in life before receiving any kind of pension, if anything at all, and will have to rely on a private pension, but only if they can afford that. It really is very wrong. Many pensioners are on the breadline and can barely afford to feed themselves because of the high costs of keeping warm in winter.
Having said all that, had my partner survived, I would have given up work at age 60 but, because he died when I was 58, I had no option but to continue working part time because there is absolutely no way I could survive on £150 a week. It is true that some can but, running a car (albeit an old one) can be an expensive necessity.
In an ideal word, people who have worked for 45+ years and paid into the system should, at retiring age (60 for women and 65 for men) should receive what they've paid in, in a lump sum to last them for the remainder of their lives; but of course the government won't do that, because it would cost them a lot more. I can't even calculate what I've paid in, in tax, over the 45 years, but I feel sure it would be a comfortable sum to live out the remainder of my life stress free and not have to worry about how to pay bills, but of course this is not the case for many of our older people, and it's just not right.
Then again, folk are living longer, and are having to continue working if they are able, which doesn't free up jobs for younger folk, to whom they are paying out dole money, JSA etc so, somebody isn't doing their sums! It doesn't take a genius to work it all out.