Biggest state pension increase since 2001

[raranah]

Where is this money coming from when everything else is being cut?

Aibu to think the government is trying to start generational wars? They cut everything apart from pensioners. Almost like they want to turn people against each other.

Well, there's money to buy David Cameron his own private jet, so I think we can afford pension increases.

I think we can also afford state benefits for others too and to fund the NHS if the government wanted to. They'd just rather spend money on other things...

Some timelines here: www.telegraph.co.uk/finance/personalfinance/pensions/10961860/State-pension-age-look-up-when-you-will-retire.html

It does suck.
I'm working full time and caring for two very frail, very elderly parents who live a 48 mile round trip away from me- I visit them nearly every evening. I also have a DGS who I'd love to look after more often but not being in the best of health (arthritis) I'm struggling.
It's a pity a bit more thought wasn't applied; I oftene Think I won't live long enough to 'enjoy' retirement so that'll save some money won't it raranah?

rara
this does not make sense
I'd increase the pension credit amount and increase benefits for everyone else.
you do realise the basic state pension is less than pension credit amount (where couples get nearly £250 pw even if only one of them has reached SP age )
the state pension is around £115 if one has a full NI record incremented by SERPs and the like (which was paid into by those who worked)
what was unfair to lots of people was the change from 40/44 years NI required to only 30 years done in 2010 (I think)
if the state pension was removed - lots and lots of people who do not have generous FS/db pensions would be on pension credit instead and get CTB and loads of other freebies - how would that be fair or save any ,money from the current system)
this argument about who deserves what and lumping all of an age group into the 'grey voter' is as divisive as called those on benefits 'scroungers'

Doubt ctb and HB will exist for much longer in their current form. Budget tomorrow.

I dont think the biggest losers will be the ones close to retirement age. Will be millianialas who never get a pension

Think the poster saying pensioners can't work is insulting. People can work. Retirement at fivty and spending thirty years supported is way in the past.

Who said anything about fifty? Do you know anyone who can claim a state pension at fifty?

Pensioners will be limited in work and after 65 who would want too really?

I'd like to see more of a difference where someone has worked and paid tax all their life to someone who worked very little.

Other benefits are easier to cut as people can make more choices. They can take on extra work, limit their children etc.

Indeed, please tell us more about all these people who get the state pension at 50. (Or have ever done.)

I'd like to see more of a difference where someone has worked and paid tax all their life to someone who worked very little.
Happens already, surely? If you've paid fewer NI contributions then your state pension is lower.

Something awful has happened in the UK for a £3 odd a week increase in income to be a cause for resentment or even comment.

Pensioners will be limited in work and after 65 who would want too really?

Not really unless it was a very active job.

Who at ant age wants to work? rush of people that love their job

Just to add my two pence worth. I left school and started work at 15 not at 21 as many women do today. I brought up three children on my own working three jobs. Put myself through university. After 45 years and still working a 60 hour week, I don't think I will make it to my retirement age of 66.5. My state pension is a RIGHT not a benefit. I have paid into the system, it's an insurance. Women of my generation fought for women to get equal pay but didn't have it themselves for many years.
It's sad and very irritating that once again pensioners are being targeted and bad mouthed by a younger generation who are benefiting from the sacrifices they made and probably haven't paid anywhere near what they have paid into the system!!

My parents have worked since 16 and 18 respectively. My Mum is 60, has had cancer twice and though in remission, is suffering the ill effects of treatment on a daily basis. She's got another 7 years before she can retire and she's in pain daily. My father has 9 years until he reaches 67. He is so crippled with arthritis, he can't stand up anymore. He struggles into work every fecking day, takes so many painkillers I worry he's overdosing, is on an ever growing waiting list for surgery he needs to have any quality of life. On top of this, they provide care for my 90 year old grandmother who is now incontinent and wheelchair bound with arthritis. I worry there's fuck all chance they'll "enjoy" their gold plated, whopping state pension. I worry they won't even see it tbh.

As a compromise, men and women currently in their 50s should be able to claim a reduced state pension (e.g. 85%) when they reach 65 and claim the full pension when they reach the statutory age. Would this work?

The thing is pensioners still have to pay tax, not on their state pension but that is included in their tax allowance so all other private pensions once the allowance is reached are taxed at normal rate

This problem has been a long, long time coming.

The state pension was only ever meant to be claimable for a few years if at all. People weren't expected to live that much longer than retirement age. People really did work until the dropped.

Sadly our expectations have to change, yes it sucks after thinking you were going to get it and then not.

I don't actually expect to get any retirement I think it will continue to rise at such rate I'll never get there!

Sorry I have to repeat this again. A pension is a RIGHT not a BENEFIT!! The women who want their pensions have already paid for it and no they did not receive notification. This has been rapidly accelerated and over 500,000 women will suffer and moaning about a £3.00 rise when if you are born in 1955 you will lose £35,000 is really petty.

We heard you the first time, very entitled.

Pensioners are also the group which have been severely affected by low interest rates. Many rely on interest from savings, which were intended to supplement the pension, for household expenses such as insurance or repairs/maintenance they can no longer do themselves.

They don't, as a rule, benefit from low interest rates as applied to mortgages like other age groups.

Andy - yes. They started including pensions in the 'cost of benefits' to make the case that it was a scandalous amount that the country couldn't afford so should be cut.

Rara - I don't think you have any idea what it physically feels like to be 65. How old are you?

People may be living longer, but bits of their bodies still wear out at much the same pace as they always did.

I don't know if you'd describe teaching as 'a very active job' but I think there will be a lot signed off with long-term sickness when they can't retire till they're 68.

The working class (myself included in this) are screwed we will be working in any job we can until we die, just like it always was.

My parents were the blip, golden handshake, lovely retirement, have done allsorts. They were very lucky. Won't be like that for me or my dc.