Tories and Labour mooting possible means testing of State Pension

[Turmerictolly]

www.theguardian.com/politics/2025/jan/17/kemi-badenoch-pensions-triple-lock-means-test-alarm-tories

I would be so gutted if this happened but there's noise from both parties about this recently. I think it might be inevitable. What will happen to those of us nearing 60 who have made plans that include the full state pension we've paid contributions for?

The only people that are fine with it are:

• the unemployed
• The v young (under 30s) who haven't paid much NI yet
• The mega rich and all tory politicians

I'm 62, still paying a mortgage until 67, just....hanging on, still caring for ASD ds, just hanging on for my state pension. Only 5 more years of just hanging on.

Hopefully come 67 and Pension Day my little bit of SERPS doesn't chuck me into the 'fuck you group', unlike now.

Now if I'd planned my retirement a bit better I'd defo not been so independent and forthright and used my young beauty and attractiveness into accepting the many offers over the years of making my life easier by hitching up with a man.

Just whatever the Full State Pension will be is what I will get, in 5 years if I've not died of exhaustion before then.

J'regret rien and I reap what I sow....

State pension is totally unsustainable. My grandfather retired at 65, died at 69 which was pretty typical at that time. In less than half a century someone my age has a 1 in 3 chance of living to be 100 years old. State pension wasn’t designed for todays demographics and will have to change.

Also my parents have a 6 figure income in retirement, I think it’s insane that they receive state pension of top of this. Seems common sense to me to take their state pension away and give it to someone who needs the money to live on.

Absolutely true!

I suspect they may introduce a taper at some point so for every £1 you get over x amount it’s reduced by 50p in the £1 or something.

It should absolutely be means tested. Wealthy pensioners should not be entitled to take money from the current workforce just because they've reached X age. It needs phasing in appropriately so that people can plan for it but I believe it's a case of "when" not "if", and quite rightly.

At the same time, we need benefits reform so that people who can work are incentivised to do so. Perhaps those fit for work should be required to complete community service in exchange for their benefits.

But most of all we need to properly tax the ultra rich and stop fighting amongst ourselves over what actually amounts to nothing more than tiny scraps.

No doubt you will agree that your inheritance you receive from your wealthy parents should be subject to a much higher tax rate seeing as it will be completely unearned income, seems common sense to me.

Oh my god I've just figured out the Tory game plan! ...

Introduce their v v v unpopular policies for the next government now - like this crazy pension idea. Then lean on reform to get back into government as a coalition. Then implement the policies they told us all they'd implement now and we r stuck with them for at least 4 or 5 yrs while they implement the shit show. Then we r stuck with these crap policies for good.

Bugger .....

I think any change to qualification to the state pension or to the increases would be phased in over a number of years to give working people some time to financially plan and build up alternative funds. It would be extremely hard to change entitlement for existing pensioners as they have so little opportunity to grow alternative income.

Of course people like to think that they have paid into a pension pot over the course of their working life which is being saved for them. But in reality the current working population are actually paying the pensions of the current pensioners. But with an ageing population the ration of working people to pensioners is falling so there will be less people to pay for the pensions of the growing number of older people - who will also be using up more resources in terms of health and social care. So unless the birth rate rises something will have to change in expectations first public services or the tax burden in working people will be way too great.

Of course many people do live solely on the state pension but at £221 per week those people that can will be trying to build additional pension pots, or housing assets to supplement the resources they will have at their disposal after retirement.

I don't understand this?

DH is 60 in a few weeks. He served in the RAF for 35 years, retiring when he was almost 57. He still works in a very good job and as a result pays an eye watering sum of tax every year. He’s never been out of work since he was 17 and entered the work force. Why should he not receive a State Pension, because they might think his RAF pension is enough, after everything he’s paid in?

I don’t work, through disability. My pension is allegedly protected because of I get PIP. Or would it be, because would they say DH should pay for me?

What a shit show of an idea.

If this is brought in, it would make sense to go and live somewhere like Dubai and keep all of your earnings rather than handing a big chunk over in tax. Those can then fund a comfortable retirement back in Europe, preferably somewhere with better weather than the UK.

The number of working net contributors is falling. Our economy isn’t growing. The largest part of the welfare bill by far is pensions. Far more than social services, unemployment etc.

Very few of today’s pensioners have ever put in anywhere near what they will take out during their retirement (and I include healthcare in this). The state pension was never set up to pay 20 years retirement at triple lock. It does need reviewing just like anything else.

This is likely to happen but at what rate will they set the taper? What criteria will they use: income or assets or both? It's fraught with difficulties from all directions. What about people who have paid in on 30-40 years and contributed to support the generation above us? We won't have time to replace the SP income.

DH is 60 in a few weeks. He served in the RAF for 35 years, retiring when he was almost 57. He still works in a very good job and as a result pays an eye watering sum of tax every year. He’s never been out of work since he was 17 and entered the work force. Why should he not receive a State Pension, because they might think his RAF pension is enough, after everything he’s paid in?

He shouldn't receive it because he is wealthy enough not to need it. It's a benefit. We have disabled children who don't receive the care and education they need because the money isn't there. We cannot afford to give money away to old people who have plenty of their own just because it's been done for previous generations and they expect it.

So what do you want older people to do? Work until they are 75? Work sucks.

Pensioners vote.* Pensioners mostly vote Tory.*

If they bring this in it won't affect current or soon to be pensioners, I'm assuming it would be targeted at younger generations. a) for voting reasons as you say b) id have thought they'd need to give a certain amount of notice to enable planning?

@FlipYouCouldBeMe and where would you be expected to live if you sold your house to live off the earnings? Shortage of affordable rental properties. Shortage of affordable housing, retirement homes & bungalows. Then you'll have spent the proceeds from your house on living, do you'll have not a lot left to fund your care home!

I agree with this but, sadly, I have no faith in a Tory Govt to honour anything like this.

This is so disgusting. Pensioners don't vote Tory. What a slander.

If you work and pay NI you should get a pension according to the number of years you've worked/stamp paid. If you're never paid into the system or only worked a few years, no/little pension. Otherwise NI is just another stealth tax on those who work.

I’m late 40s, net contributor. I have never claimed any sort of benefit and have never and will never inherit anything. I am resigned to the fact that I won’t get any sort of state pension so it doesn’t feature in my financial planning. It is a bit shit to be paying so much and know I won’t be “entitled” to anything but there you go.

They can fuck right off with that shit. The promise and indeed the social contract is that if we pay years of NICS and in return when we reach state pension age we are provided with a state pension. Irrespective of means. No government will actually dare do this. They know it's immediate political suicide.

I think you will find that you now need 35 years of contributions to get the full state pension.
The old pension, pre 2016, was 30 years.

Your primary home is not always included in asset assessment (e.g., when deciding whether your home should be sold to pay for nursing care if others live there). But even it this were the case, the threshold would be much higher than 600K. Even inheritence tax for a couple doesn't kick in until something like £750K or £950K if a property is involved.

This is exactly people are persuaded to vote Tory. They target people with significant but actually relatively moderate assets, and make them think they'll be victims of some sort of tax raid in a progressive tax policy. In reality only the super rich (think multi-millionaires) would be affected.