The state pension is HOW MUCH???

[BeatieBourke]

Call me stupid (fair) but I've just realised how much the state pension is. £800 odd a month (£185.15pw).

As a non-means tested benefit. For EVERYONE.

I'm generally of the opinion that benefits are too low and too punitive. I usually advocate for universalism. I understand that people have worked their whole lives and paid in, and deserve a retirement. And that having pensioners in poverty does no favours to the economy or other welfare services.

But £800 a month / £9k a year for EVERYONE?? So a widower in rented accommodation with no other income or savings, £800pm. A wealthy 68 year old who's earned a 6 figure salary, has a huge property portfolio and investments coming out of their ears that pay a fortune out in dividends, £800pm. Seriously?

I understand that no party, least of all the Tories (because tory voters as a population are older) will ever go after pensions because it would be unpopular (and older people vote more generally). But in a time when the country is supposedly facing a financial "black hole" and everything else has already been cut to the bone for the last 12 years, why the hell are we paying out state benefits to millionaires?

Maybe if pensions were means tested (with a fairly high and tapering threshold) there'd be enough to pay pensions for women at 65, and more for people who haven't built up huge assets, can't afford to live, heat their homes or eat a hot meal every day in their later years. I can see the (cynical) political sense in it, but no economic sense whatsoever.

AIBU?

I can't believe people are trying to take pensions away.

Once you stop them being universal they will be removed completely.

If you want no pensions just say that - tell us you are rich and want to keep your money for yourself. If you are not rich this is madness.

Redistributive taxation is what is needed, not attacking the welfare state.

Means testing costs a fortune so it usually better to make an entitlement universal and claw it back from the wealthy in taxes

Its interesting that there seems to be a distinction made between people who "have paid in" and therefore deserve a state pension no matter how much private personal wealth they have, and people who have "claimed everything their whole lives" and therefore don't.

I wonder how many people there are in the UK who have claimed everything and never worked. It's certainly not the majority of the welfare bill. And yet, whenever we have these conversations, that's the focus.

Also interesting that people of modest or moderate means think I'm after their pensions (I'm not). I dont think people realise just how rich "rich" people are.

Me too, will be giving it all to my kids .

The full basic State Pension is £141.85 per week.

www.gov.uk/state-pension

What's your actual point, op?

That's not how it works. There's no 'pot' set aside for pensions. Current taxpayers and government borrowing pay for current pensions.

Current pensioners paid for your schooling and for your mum's child benefit and for the NHS.

Because we know how this works. First of all only very rich people do not get the state pension. Within 10 years only people on benefits will get the state pension.

I know. What's your point?

Completely agree with this. If women want equality, we have to take the good with the bad. Totally unreasonable to think that there should be different ages to access state pension, especially when women normally live longer than men, therefore on average they end up being paid more than men.

As an aside, I wish I was getting £800 a month, as it’s more than I currently get to live on.

And since you lied in your OP about how much the state pension is, I do not see why I should trust anything you say.

@Whoopy Women and men get pensions at the same age. And the state pension is way less than OP says.

There are many older women who have worked very little outside of the home, but this will likely change now as so many women work. The vast majority of people we have coming to our charity for help claiming pension credit are women who have been single for many years or worked very little. You'd be surprised how many women seem to have gone from looking after their kids to looking after elderly parents and then to looking after a spouse and sadly end up with very low state pension. Not everyone claims carers allowance and gets credited with NI contributions.

Why is this?

Current pensioners paid for your schooling and for your mum's child benefit and for the NHS.

Exactly. What a mean-spirited, ageist thread.

New state pension is £185.15 per week. It may be less for older people but then many pensioners get a lot more if they get the SERPS on top. not exactly sure what SERPS was but that group of people seem to get way more in state pension !

If paying into a private pension meant I wouldn't get a government one then I wouldnt pay into a private one.

Yeah it would be awful to stop paying rich people pensions when we are borrowing billions a year and the nhs is falling to bits. Not paying rich people pensions, that’s just the worst! There are kids going hungry but we should definitely prioritise rich pensioners.

They need their river cruises!!!

wealthy people pay tax on their pension income and have contributed to the economy

Same here. And I would cash in what I have already paid and have some great holidays.

My taxes pay the wages of two nurses and I have already paid NI for forty years.

My state pension - deferred since I began making payments as a 16-year-old - seems small recompense for what I've paid in.

People have no choice now though - they are automatically enrolled and employers have to provide a pension scheme. My cynical side thinks they must be thinking of means testing the state pension in the future.

Well that would be somewhat cutting off your nose despite your face wouldnt it 🤦‍♀️

It’s not compulsory. You can opt out

Not what it says on government website. I know it is changing, but that is not the current figure. Lots of people, especially women get way less than full state pension.