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?

This 👆 Those who have made up their minds that the elderly are coining it in and have always been more fortunate than them, haven’t got a bloody clue 🤬

All aboard for the race to the bottom!

Rich people have the option of not claiming their pension. Don't forget they also get winter fuel allowance even if they don't need it! You could be a multi millionaire and still get it

Good point but you’re brave…

Why on Earth should I NOT benefit from the State Pension , when I’ve paid NI all my working life ?

I don't know how they work it out. I worked for the same company for 40 years. Never had a break for any reason no children etc. Paid full stamp and I get just under £600.per month.

Isn't that the full amount after you've paid NI for working? Thought there were different payments according to this? X

@Blossomtoes just because you get £185, doesn’t mean that everyone else does. What don’t you understand about that?

They started means testing the state pension In New Zealand in the 1980s. They got rid of universal child benefit around then too. I can remember my mum crying. Neither have ever been reinstated - has saved the country billions! On the other hand- no inheritance tax.

I’ve been working since I was 16 will be working until I’m 67 it’s nowhere near what I and millions of others deserve

We were discussing the maximum @AnnieSnap. Apologies for not making it clear.

Goodness really? £800 doesn’t go far these days. Thankfully my Mum also has my Dad’s pension that pays half what it did. I do hope you never have to rely on £800 a month in future. As an older person you need more heating and electricity.

What a nasty mean-minded thread. Very few pensioners have huge pension pots. A great many have lost pensions they’ve been saving in the financial crisis.

The state pension is NOT a benefit. You have to pay in for 35 years.

You pay your National Insurance to be able to qualify for a state pension and people who are higher earners pay more National Insurance and get the same state pension so you could, in theory, argue that they have contributed more so the "means testing" bit comes then. I do get what you are saying though OP, but I also think if pensions were means tested then it would discourage people from also saving for their old age (as what would be the point of accumulating some modest savings if then you lose your pension). Stopping people saving would be a disaster as there is no way just a state pension is going to pay for long term care if you need it and social care is such a massive mess that many people spend their life savings (or a good chunk of them) on their care needs in later life.

Your state pension depends on the number of years you have paid NI contributions. You can request a calculation - via the .gov site:

www.gov.uk/new-state-pension/how-its-calculated

I started work at 16 and even paid NI in my Saturday job. I have earned my pension. I also have a small private pension which I paid I to for 20 years and which enabled me to go part time. What do you want, that OAP are not paida Pension and go down the coal mines? There does come a point when a person is not really fit and agile enough for a full time job. I retired at 67 and already have arthritis knocking at the door. In any case younger people need jobs, though I would support any older person who wanted to continue to work.

I’ve paid into the pension Ponzi scheme for 37 years, and have no issues with it being means tested, but what about my contributions?

Sorry you've lost me. Of course we didn't have reading comprehension books. We had books. The same as our children had books. Reference, fiction and non-Fiction.
What is a reading comprehension book? I am assuming some sort of remedial scheme?

Debates about the fairness of the state pension also need to take into consideration the massive health inequalities in the UK. In deprived parts of the country the average person only lives to around 65. In the wealthier areas the average can be up to 85.

So while the state pension can be seen as a universal benefit that everyone received, the reality is that it’s predominately paid to wealthier people who live longer.

Yes we are badly paid compared to the rest of Western Europe. Especially when people like me have paid NI for 45 years

Not everyone gets that amount, even after working and contributing for many years.

The state pension is an entitlement, not a welfare benefit. It is paid for by NI contributions, which most people pay or have paid for them. You can't take it away from people who have paid in all their lives!

Almost everyone. We are one of the lowest paid & the longest wait to receive it. It’s shameful

The UK still has an incredibly well supported social system. In the US, they don't even get maternity time off or pay by law. Anything provided is at the bequest of your employer. The State Pension was created at a time when the provisions would have been enough to cover the cost of living. I don't believe that is the case today. However, add in other comparisons, there is no State Pension equivalent in the US and also the UK has a free healthcare system. Not having to pay $200 to see the Dr is an incredible gift.