To be glad triple lock going and hope they means test it too

[Randomamsi]

I have a multi millionaire senior relative who receives £1,400 from the state pension each month, in addition to 6k private pension.

He's not means tested and he's received that for 30 years. Yes, he paid into the system but he does not need it!!! He also had free uni, dirt cheap first house back in the 60s and retired aged 59.

Meanwhile the younger generation:

• thousands in student loan debt
• asset poor as can't get on the housing ladder
• means tested for child benefit, tax free childcare etc
• working until late 60s/ 70s

Why do pensioners have it easy while younger ones pay the price?

For vulnerable pensioners at risk of poverty, there should obviously be provision to help them, I'm not suggesting we let people starve. But multimillionaire pensioners or very asset rich pensioners do NOT need the state pension. It's about time things changed.

You're unreasonable to wish your wealthy relative didn't receive a benefit that he paid into and is entitled to.
You're not unreasonable to want benefits to be rebalanced in favour of the disadvantaged younger generation.

The numbers to give you clarity:

Relative receives £1,400 a month from state, other income is minimum £6k a month. No means test at all.

I claim child benefit about £100 a month from the state. Salary about £3,600 However due to a bonus I went over the child benefit threshold and now have to pay back some of the money and Gov is clawing it back.

Please explain how this is fair?

😆 🤣

I'm sorry, if you're a multimillionaire with 6k income, you do not need money from the state.

Other benefits like Child benefit etc are capped at a certain income level. Tax free childcare is capped at 100k a year etc

He doesn’t get that much - state pension is nowhere near that

He does, I've seen the bank statements. He started claiming many years ago under old system

State pension is just over £1000 pcm

You do know we have pretty much the lowest state pension in Western Europe. That's not something to be proud of

I’m working until 67, had my CB means tested…. and will be retiring in a few years time. Why should my pension be means tested?

The people who paid taxes their whole working lives should get their pensions. Pensions are not benefits!

The older pension pays less - that’s why they get pension credit.

Whatever the amount he doesn't need it.

I’m don’t agree because to means test it where do they draw the line? I’m no where near retirement but we massively stretched ourselves to have a nice house in a nice area, I currently feel like I can’t enjoy it because I work all the hours I need to in my corporate job and travel a lot, I would like to think when I retire (in like 35 years!!) I can enjoy my home and my surroundings in the countryside but if the fact that I own a £500/600k++ house means I don’t get the support I’ve been heavily taxed to fund in my retirement then fuck it all, sell the house now and fritter away the assets what’s the point

I'm talking about multiple millionaires,not every day people with modest pension funds

When he dies his millions will be taxed in inheritance tax.
If he spends first it he will pay VAT

I don’t necessarily disagree. But lying about what he gets doesn’t help. Plus there are other things to take into account. It’s not that simple. People near or on state pension were told they would get a pension. You can’t just decide no they can’t now.

But labour- or most governments- won’t see it like that, it’ll become if you have any private pension or assets your fine!

I see what you mean in principle, however I think it should be up to the pensioners to decide to collect or not.

But you said you were glad.....
And it does affect ordinary people...

£6k is not multi millionaire territory.

I've paid a shit load in student loan, got hit by the financial crises twice pay through the nose for a mortgage on a very ordinary house. I've never claimed a penny of anything, no financial leg up from parents who both left school at 14 and had careers that reflect that, but I probably earn enough (not millions or even 6 figures) that I likely wouldn't be entitled to a means tested state pension. Where does it end?

Well. If they do means test it, I'm screwed. I don't have a decent pension, and took the decision to seriously save for my later years so I can have a more comfortable retirement.

Agree...i know lots of wealthy pensioners. It should be means tested. I think the bar should be high for qualifying for a state pension but no it shouldn't be available for all. Makes me sick that they means test child benefit but not the pension. The media narrative of the poor pensioners is getting very tiresome and we now longer have the war generation who truly earned it

It would be means testing the amount you have in a private pension eg if it's over a couple of million, you don't need it.

I 100% agree. My father in law retired at age 55 has a huge pension and has no concept at all how hard it is for younger generations.