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.

What they don’t get is we have virtually the most generous tax free allowance in the EU ( I know this from my enquiries on moving to the EU over the years) a middling level pension - Swedesare busy paying 18.1 % in for their none too special pension and UK has one of the most generous lowest tax rates on dividends out there. German pensioners are busy fully paying their 340 euros ( each) a month for state healthcare unless they have very low income indeed and next to no assets and the Dutch pensioners 190 euros , same situation- All the early retirees in UK paying zilch in NI as not working ? No chance in plenty of other places that don’t have NHS style system - if they’ve got decent income then they are paying those amounts too - So those going on about lower pensions here ( and it’s not strictly true, many country’s have similar levels) that’s because in many countries they are paying a lot more tax , even on moderate earnings-

OP, I disagree with you on means testing the state pension, but agree child benefit and childcare should be a universal, non means tested offer. I have now paid NI and tax for 48 years. I have had my state and occupational pension age increased by 7 years, from 60 to 67. I believe we should allow those who are long term net contributors the opportunity to claim their state and occupational pension at age 65. Something I strongly object to is my friends who have relocated abroad and paid small amounts of voluntary NI contributions over the years will get the same state pension as me, as well as a pension in the country in which they have lived since their 20s or 30s.

He paid a fortune in national insurance why shouldn’t he get a state pension.

Yes but it shouldn't be. In other, less shitty, countries your state pension contributions are put in a pension fund not just spaffed up the wall on the basis that the next generation pay your pension.

My mum gets 1500 per month but was in a low paid job. Late dad was well paid so she inherited some of his SERPS. She will be happy to lose triple lock.

The pension is a benefit!

You are talking about envy. Your eyes are bright green.

You earn over the child benefit threshold. Consider exactly how many people earn no-where near that much and will be gunning for you and for your benefits next.

This.

OP do you even understand what National Insurance is?

Means testing started at £50k.

My generation are also funding dc through uni and care for our elderly parents alongside private medical fees for children now not covered by the NHS.

@Bitsostuff & how much do people have to pay in in those other countries?

Just put your bonus in your pension and you won't lose your child benefit.

No no she Deserves Her benefits.

60k meant you got nothing though, my point was the threshold was frozen for a long time.

Did you really have dc in your 50s?

£1,400 per month so £18.200 (it's paid every 28 days so 13 payments a year) for the full state pension? Where did that figure come from? Google has just told me it's £12, 547 p. a.

I'm assuming she is referring to take home pay. A £60,000 salary has a net pay of £3779, if she pays into a (private) pension she could easily have a take home pay of £3600 on £60k.
My take home pay on £57k is £3600 before my pension contributions.

@NetZeroZealot what do you think it is?

I think there is something with pre - 2016 pensions that does boost pensions but no idea as to how much or how.....just seen some people posting on a pension group (I am trying to plan my own) and their projections are upwards of £1200 whil mine is the standard at 53.

They should just match the pension to the second highest of the three measures, instead of the highest. No means testing. Nice and simple.

What are you talking about?

I get a full state pension £965.20 every 4 weeks it's paid.
Why don't you try and get your relative not to claim state pension as he doesn't need it.

@chirrupybird most people couldn’t buy a house? what’s that based on? Don’t forget the millions of council homes that existed.

@Randomamsi why should I not get state pension when I’ve paid over 42 years’ NI, have 7 years until state pension kicks in but still have to pay 7 years’ more NI - in your world
I wouldn’t get it because I have a quite big pension pot because I went without to put every bit of any pay rise into my private pension so I am used to existing on a smaller salary. Not had kids either.

@Sky1ark what are you confused by?

Not for the last 30 years though, OP said he had received that amount for the last 30 years