Anyone live on just the government pension?

[wavingfuriously]

For those with no private pension do you manage to live on this alone?

They wouldn't get pension credit if they get the full new state pension unless they have a disability, or housing costs. Someone with no rent or mortgage and none of the other criteria wouldn't be entitled.

Only if the pension was in payment before 2016. Anyone reaching state pension age after 2016 will get the new state pension currently £221 a week, rising to £232 in april

I think as a couple it is doable if you own outright

Loads of pensioners get state pension with added SERPS. I work in benefits advice for older people and regularly get clients on over £300 a week ! I think my own Dad gets about £250 a week.

But in this situation they are very likely to get housing benefit and council tax support. the housing benefit may not cover all their rent but people often get a significant amount covered. No pensioner gets left with £36 a week to live on unless they are not claiming what they are eligible for !

My dad did and he managed to save a bit as well. He lived a simple life in a cosy one bedroom flat, he went out each day on the bus, train or tube. He ate simple food and wore comfy inexpensive leisure wear. He liked music, to read, watch football and old films and to listen to the radio. He died a few years ago.

Do you have the figures to back this up?

OH and I could do it. We keep track of our monthly essential and nonessential spending. We’re doing this to know how realistic early retirement is for us (and we’re saving into workplace pensions)

There no way either of us could manage on a full state pension as an individual though. And so any retirement planning we do looks both at what we’d have as a couple and as a widow/er.

Anyone heading towards this scenario is much better off cashing in their private pension and spending it before claiming the state one. Spend it on decent quality things that will keep you going for a while - a really good car, reliable household appliances and furniture - plus one last nice holiday. You can spend a reasonable amount before it starts counting as deprivation of capital. Keep back £16000 in a high interest savings account and claim the full whack - council tax support, the lot. No way would I use my life savings to pay bloody council tax, having paid it all my adult life.

Most single women pensioners have a fairly low income. Pension Credit gives £218 per week. Most pensioners with a high state pension are men as women were less likely to earn the high salaries to get that extra pension.
The average single woman pensioner has an income of £259 per week, some of which is taken for income tax. After paying for food, Council tax, fuel and other bills, it does not leave a great deal for extras.
WFA should only have been taken from those with a much higher household income.

It can be possible for much older people that paid into second state pension. It won't be the case now for anyone retiring.

Our basic expenses (including mortgage) and with two cars, and 4 DC are £2.5k, once we remove them from the equation and we own outright, it should be more than enough!

Well, it is obvious you don't know what you are talking about. It's not obviously incorrect as it it absolutely right. The full amount of the basic state pension is £169.5 The maximum amount of SERPS and S2P possible is £218.39, giving a total of £387.89 per week. All figures available on the government website.

Not true at all. Many people retiring after 2016 have protected payments earned under the old system and are now claiming pensions in excess of £221.2. We are currently in transitional arrangements to reflect people's historic entitlement and those arrangements will last until the 2060s. A friend of mine has just retired this month and their pension is £241 a week, reflecting their SERPS and S2P.

I will probably get flamed for this but is it worth me stopping my council pension now so that I would qualify for the extra benefits such as housing benefit. (Using the money I would pay in to instead get myself out of debt and save for when my children want to go to uni)
currently a single mum working as an LSA in a school, I pay in about £60 a month to a council pension but this has only been for last 3 years, I’m 39, live in private rented accommodation, will never be in a position to buy unfortunately, would probably have to live in a hostel for at least 2 years to qualify for council accommodation.

An important tip for anybody who is over the limit for pension credit. You can get help with council tax, rent , optical and dental charges on low income grounds. It isn't a cliff edge cut off.
Have a look at this link.

https://www.turn2us.org.uk/get-support/information-about-benefits/using-the-benefits-calculator

Agh, deleted post as I meant to start a new thread, not comment on this one!

Council pensions are excellent. I’d definitely stick with it. They also have death benefits for your DC if you die.

You are better off having a pension that you have a clear legal entitlement to. If you are recieving a means tested benefit then you are at the mercy of future rule changes. A defined benefit pension which is indexed linked id always a good option.

Pension credit rules/ entitlement could be stopped or changed at any point. better to have your own private pension and not be at the mercy of a benefit system which is currently unsustainable and could be pulled away at any time. i don't understand what anyone would think it better to claim benefits than build up your own pension fund. People on Pension credit have to report all changes, watch they don't go over the savings limit without reporting it , have to be careful of deprivation of assets rules etc. There are a lot of hurdles to jump through.

If she smokes like a chimney she is spending a lot more that 150 per month, it’s probably closer to 350/450

You have hit the nail on the head! Absolutely spot on. You don't want to be subject to the vagaries of means testing.

Agree, broadly.

I was talking about the specific circumstances outlined by a pp where someone is retired and renting with a small pension pot. In that case any pension pot of less than £250k/any defined benefit scheme paying out less than £10k pa, will just see you using it all up on rent and council tax while using the state pension for spending, without the additional help that you get from pension credit/whatever replaces it. You won't have any spare money anyway, so you may as well take the pension money you've already saved up while it's still classed as spare, ie before you stop work, and spend it on things that will make your life nicer as you move into the time when you're claiming state pension. Because you won't be able to buy those things once you are there - the state will require you to use your pot for rent and council tax.

So yes absolutely, build up a pot. But, be mindful that especially if you're single and/or don't own a house, running that pot down to £16k by the time you claim state pension might give you more than if you let it rest.

Yes, it is possible to live on just the state pension only.
Have changed my username as I'll give specific details, which may be outing.

I've recently retired, 66 years old. I have a state pension only, it's £230.49 per week and will rise to around £239.49 in April. It's slightly higher than the standard state pension as I have a small amount of SERPS on it, from the days when this was added for those who had no other provision.
I have never paid into any private pension scheme, and always said no when a company scheme was offered in past jobs. Mostly because I was a single parent for many years and just could not afford to pay out anything else.

For my early married years, I was a SAHM but was credited NI payments as we qualified for child benefit. Later one of my children was diagnosed with a mild disability, but enough for us to claim DLA at the time, and me carer's allowance, that gave me extra credits for those years. However, that was taken away when my child reached 16 as they were deemed able to cope on their own and they live independently now.

I currently live on my own. By the time I was in my 60's I knew retirement was on the horizon so I "future proofed" in different ways. I have always had rented accommodation so I made sure I moved to a place which would be affordable in old age - I had no savings, and no place to sell. Instead I moved to a beautiful rural area, into retirement accommodation for over 60's. These places are much cheaper, I have the most gorgeous apartment as part of an old, converted manor house, with lovely grounds. And in a little village with a vibrant community (village pub, active church, modern village hall with lots of activities etc). I pay £395 per month in rent and an extra £60 per month which covers all the bills - no problems worrying about electricity/gas/water or council tax.

On top of that there's £14.12 per month for TV licence, £32 for internet, £4.35 per month for contents insurance, £10.65 for D&G white goods insurance (engineer comes out as soon as anything breaks down).

I had a lease car which, once the leasing years had run out, I had the option to buy at a knock down price. I used all my extra money from working to buy the car as I knew it would be vital if I was living in a rural area.
Car insurance is £56 per month, car tax works out as (equivalent) £16.25 per month, petrol about £70 a month as I like to get out (and the supermarket is a trip away).

That still leaves plenty for the weekly food/toiletries shop (around £50 per week). I made sure I had completely changed my wardrobe (including underwear etc) in the year or so before my retirement, while I was still working. I don't think I'll need new clothes for a long time. I have bulk bought items like washing powder, bin bags and so forth because it's cheaper. I batch cook casseroles, soups etc. and freeze food - for one person it's really economical.
However, I'm lucky - I don't eat take-aways (don't like them), I don't spend on magazines or newspapers (use the internet or TV for news), I'm happy with Freeview TV and iPlayer (no Netflix subscriptions) and I don't drink alcohol.

I don't think life is boring, but that's subjective of course, it depends upon your interests. I've done a lot of travelling over the years so I don't feel the need for overseas holidays; I have the car and visit friends to stay with across the country. I'm very active in the local community and serve as a parish councillor, I volunteer in the local primary school and I'm active in the church....that gives me lots of friends as well as family, who live nearby too.
I have masses of interests - watercolour painting and the local art club, craft work and photography. I've joined a creative writing course in the nearest town and do several interesting courses online, including learning a foreign language. There is so much to do! I also joined the national trust as they allow membership to be paid monthly rather than just yearly, that's an extra £7.60 per month. Really worth it as I love going to all their properties, always a great day out either on my own or with family and friends.

Honestly, it can be done.

You can also get more state pension if you defer claiming it. I know people who get over £20k pa for having deferred some years. But you would need to live longer than average to benefit overall.