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Original poster

To worry about rent increase

65 replies

pussinboots61 · 28/03/2025 18:34

Hi I am a born worrier and have anxiety.

I live in a one bedroomed Council flat which I love. Every April I have the same worry about the rent increasing. In April it will be £499 per month. This is for a small one bedroomed flat.

I know that its cheaper that private renting but I worry mainly about affording it when I retire in three years time, though I will get a good private pension plus a state pension but with this Government making cuts all the time I dread to think what might happen.

I moved into this flat six years ago from a flat which was not in such a good area but the rent was cheaper. I moved to where I am now because I lived here years ago and moved in haste when my Mum died as she lived near me. When I got this flat I couldn't believe that I had got back here again but I've worried about the rent ever since.

If it ever did come to where I couldn't afford it, it would be impossible to move because now there is a housing shortage where I live and people are bidding for properites and getting nowhere.

I feel I am driivng myself and everyone else who cares to listen around the twist with worrying about this.

OP posts:
GwanwynArYFfordd · 28/03/2025 21:19

You can still pay into your work pension when you are working and claiming state pension. The pension contributions comeout before tax.

https://www.justanswer.co.uk/employment-law/o0ife-i-m-receiving-state-pension-working-pay.html

Speak to Pension Wise, as they can advise.

https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/pension-calculator?utm_source=google&utm_medium=cpc&utm_campaign=pensiontools_paid_search&utm_term=generic_pensions_advice_PM&gclsrc=aw.ds&gad_source=1&gclid=EAIaIQobChMIt8Drt9itjAMV45ZQBh1MMweNEAAYAiAAEgIFufD_BwE

You will manage if you get a state pension and work pension. As the housing costs are reasonable, and you will be better off than most people in rental accommodation.

Make sure you are getting the 25% discount on council tax. And the best deals for your utilities/broadband etc. Think about your budget now, and plan in advance for what you will need.

Yes, there will be less money. But you will adjust to that, and make decisions about what you prioritise.

I bet if you are on a good wage now, there are plenty of ways you can cut your expenses and save more for the future. Think about what you want to be able to do when you are retired and save more now.

What are your hobbies/interests? Look at how you will be able to do those things when retired on a budget. Its about how you see life, and get enjoyment. If you want a super lavish retirement then no, you prob won't be happy. If you want to spend time with people, and have good experiences then you can do that on a budget.

Original poster
pussinboots61 · 28/03/2025 21:18

Tricho · 28/03/2025 18:45

With respect. It's 499. That is less than I paid in 2010 for a 1 bed in the SE. Its a steal. With a state + private pension you will be in a good position.

You must have a good amount left over per month as a potential cushion?

In the space of 3 weeks my internet, council tax, house insurance and energy has hone up by a combined 150 per month

My mortgage is up for renewal next year and itll likely increaase by c. 400 quid

Its life. You cut your cloth accordingly.

youre in a privileged positin.

I'm not sure what you're wanting people to say?

Edited

I want reassuance really and it is helping knowing people have rent is more than I am paying.

OP posts:
Original poster
pussinboots61 · 28/03/2025 21:16

PeachPumpkin · 28/03/2025 20:20

OP, have you tried a benefit calculator? You may be entitled to something when you retire.

I haven't tried that but I don't think I will be entitled to anything with having a work and state pension.

OP posts:
Original poster
pussinboots61 · 28/03/2025 21:15

UndermyShoeJoe · 28/03/2025 18:42

Do you have other large outgoings?

Not very large outgoings. My heating is district heating and my flat is quite cheap to heat as its upstairs so retains the heat. I have other bills and food costs, I don't run a car. I manage fine on my wage.

OP posts:
JHound · 28/03/2025 21:14

That’s a third my rent…(we need more affordable housing!!)

tillyandmilly · 28/03/2025 21:14

You are in a very fortunate position- I am 57 and hardly any private pension! I won’t be retiring for another 20 years!

Original poster
pussinboots61 · 28/03/2025 21:12

Periodicnamechanger · 28/03/2025 20:24

Are you saving some of your ‘good wage’ for when you retire? Will you get a good company pension from your good wage? Will you get a full state pension?

My work pension should be good. I will get the full state pension. I will also get a lump sum but if I pay my rent out of that every month it would soon go down. I do save every month.

OP posts:
Original poster
pussinboots61 · 28/03/2025 21:11

cestlavielife · 28/03/2025 20:29

What will your income be when you retire?
If you will not get any benefits help due to amount of income then it is assumed you are left with a reasonable amount.
Otherwise consider ways to continue to earn money.

My wage is now £2,000 per month and I've been advised that my work and state pension together will be around the same.

OP posts:
Original poster
pussinboots61 · 28/03/2025 21:10

protectthesmallones · 28/03/2025 20:48

How much has the rent risen in the last few years? Work out the percentage rise and apply that forwards, compounding each year. This way you’ll know what to expect in the future.

I strongly suspect it’s the unknown that’s worrying as your state pension will cover your rent and probably most if not all your bills as well. Then your work pension will be running a car, holidays and extra unexpected expenses.
work out your predicted works pension alongside your state pension. It will put your mind at rest. And remember retirement isn’t final. You might find you can do a few hours paid work as you need to boost things.

Last year the rent went up by 7,5%, this year its going up by £2.7% so it is lower this year. When I've worked it out it seems to have gone up more than I had calculated but I rang the Council today and it seems their calculations are right, they base in on the actual rent and not the extras added on like the water rates and meter for the heating that are a standard charge.

OP posts:
Original poster
pussinboots61 · 28/03/2025 21:07

Ponderingwindow · 28/03/2025 20:34

If you are really worried, could you delay your retirement by a couple of years and focus on building your savings?

I could but then I have been advised that if I carry on working after I retire in the same job I will get hammered with tax.

OP posts:
protectthesmallones · 28/03/2025 20:48

How much has the rent risen in the last few years? Work out the percentage rise and apply that forwards, compounding each year. This way you’ll know what to expect in the future.

I strongly suspect it’s the unknown that’s worrying as your state pension will cover your rent and probably most if not all your bills as well. Then your work pension will be running a car, holidays and extra unexpected expenses.
work out your predicted works pension alongside your state pension. It will put your mind at rest. And remember retirement isn’t final. You might find you can do a few hours paid work as you need to boost things.

Ponderingwindow · 28/03/2025 20:34

If you are really worried, could you delay your retirement by a couple of years and focus on building your savings?

cestlavielife · 28/03/2025 20:29

What will your income be when you retire?
If you will not get any benefits help due to amount of income then it is assumed you are left with a reasonable amount.
Otherwise consider ways to continue to earn money.

Periodicnamechanger · 28/03/2025 20:24

Are you saving some of your ‘good wage’ for when you retire? Will you get a good company pension from your good wage? Will you get a full state pension?

PeachPumpkin · 28/03/2025 20:20

OP, have you tried a benefit calculator? You may be entitled to something when you retire.

CaramelVanilla · 28/03/2025 20:03

AliBaliBee1234 · 28/03/2025 19:53

It actually depends on where she lives on whether it's cheap or not.

Show quote history

You say that, but where can you get a one bed (not studio) flat for less than 500 a month?

AliBaliBee1234 · 28/03/2025 19:53

luckylavender · 28/03/2025 18:48

You are truly going to get slaughtered here. That is so cheap.

It actually depends on where she lives on whether it's cheap or not.

BMW6 · 28/03/2025 19:53

But OP - you will be getting State Pension AND your Occupational Pension!

How much is your work Pension likely to be each month?

paranoidnamechanger · 28/03/2025 19:33

Come on, get a bit of perspective here. A one bedroom flat even in a shitty area here in the north west rent for £700 a month. You pay a relatively small amount in rent, you have a lifetime tenancy, and you have no maintenance costs!

CaramelVanilla · 28/03/2025 19:25

pussinboots61 · 28/03/2025 19:11

No housing benefit if you get a work pension which I will get.

Show quote history

So how much will your pensions add up to per month?

Reallyyyyyy · 28/03/2025 19:23

Also, have you been saving for retirement onto of a pension, that's what most of us will need to do with high rents and mortgages.

We rent privately. Will never get on the property ladder. We currently pay £2850 a month th before council tax and bills. We will obviously down size as we get older and kids leave home. But renting in general will be harder to get as we get older.

HelloNorthernStar · 28/03/2025 19:18

Without understanding what your income will be when you retire it is hard to comment or give advice.

Original poster
pussinboots61 · 28/03/2025 19:11

justkeepswimingswiming · 28/03/2025 18:42

You might get help with housing benefit.

No housing benefit if you get a work pension which I will get.

OP posts:
fromthevault · 28/03/2025 19:08

That's very, very cheap rent OP.

I understand that sometimes worries can spiral, but you have a council flat (so I assume a guaranteed tenancy?), a 'good wage' and will be getting a private pension on top of your state one when you retire. No one is going to be doing away with the state pension in your lifetime, if that's what worries you.

I was paying over £400 a month for a room in a shared house in the late 90s. I think you'll be ok, but it's probably worth looking at ways you can help your anxiety in the meantime?

Crikeyalmighty · 28/03/2025 19:03

Ok OP - let’s presume state pension plus private pension will give you around £2k a month - even if it went up to £600 plus say £420 for bills - still leaves around £1000 just for food and extras - I’m not sure why you are panicking - and that’s doing no work - you might go and do a small bit of part time and get another £500 too

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