State Pensions

[Vixnixtrix1981]

Being in my 30s, I've never thought about Pensions. Been in my employers scheme for 13 years so far but recently they have announced a shortfall so are proposing changes.
This made me look at the state pension.
If you have made NI contributions for between 10 and 35 years you get a calculated amount according to the numbers of years you contributed.
Am I being a dick in thinking it's therefore unfair that someone who has contributed, say 50 years NI gets exactly the same pension as someone who has contributed for 35 years?
I am just of the thinking that if you calculate some people's pension on qualifying years, you should calculate them all, if that makes sense.

National Insurance and tax after State Pension age

Overview
You don’t pay National Insurance after you reach State Pension age - unless you’re self-employed and paying Class 4 contributions.

You only pay Income Tax if your taxable income - including your private pension and State Pension - is more than your tax-free allowances (the amount of income you’re allowed before you pay tax).

www.gov.uk/tax-national-insurance-after-state-pension-age

But this is all a good 40 ish years away now. Probably no state pension for me then @needyourlovingtouch how old are you ?

if you're 30ish, this should be more 'normal' than not normal if you get my drift

The 1983 Amendments phased in a gradual increase in the age for collecting full Social Security retirement benefits. The retirement age is increasing from 65 to 67 over a 22-year period, with an 11-year hiatus at which the retirement age will remain at 66. nope, thats USA pensions, nearly didnt check

UK this time
www.web40571.clarahost.co.uk/statepensionage/SPA_history.htm
1995 - women's state pension age to be equalised
Following pressure from Europe, the Conservative Government was forced to announce plans to equalise state pension age for men and women. The timetable was the most relaxed possible and would raise pension age for women to 65 slowly from April 2010 to April 2020.

2007 - further rises in pension age to 66, 67, and then 68 introduced
The Labour Government passed a new law to raise state pension age to 66 between April 2024 and April 2026, then to 67 between April 2034 and April 2036 and to 68 between April 2044 and April 2046.

6 April 2010 - women's state pension age begins to rise
The first women are affected by the equalisation changes. Women born 6 April 1950 to 5 May 1950 have to wait until 6 May 2010 to reach state pension age, a delay of up to one month.

so 1995, 23years ago...

The problem is that you are thinking of the State Pension in terms of 'fairness'.

Whereas its actually part of the civilised safety net that is supposed to cover all of us.

@EveningHare yes but teachers and nurses etc could previously have taken their nursing pension before their state pension.

If we're talking the principle of contributions, why is women's state pension age (only now) being equaliseed with men's? Surely, women should have to contribute for more year, as they will take their state pension for longer?

I've really never understood the logic of the WASPI argument (I understand their annoyance); they were given years of notice, and they have the opportunity to contirubte for longer. They're not having the rug pulled out from under them; in fact, the exact oppositve is happening.

I have heard that some WASPI women were not allowed to start a personal pension at work. Therefore they only have state pension. A state pension that they have to wait longer to claim !. On the flip side, I've heard younger people who work ask why they should pay into a private pension. The world has changed, people are living longer.