Worried I haven't got enough pension due to claiming UC

[Worriedaboutmypension]

Hi all,

After seeing a thread on here a few days ago about someone who was worried that she didn't have enough pension when she retired it made me look at mine.

I was shocked when I checked it that it was only worth 18k and this is definitely the full amount of the pension not the yearly value.

I've been with my company for 8 years and its the first time I've paid into a pension. I only work 4 mornings a week and claim some top-ups in UC.

I'm 41 and work for just over minimum wage so are unlikely to find much higher paid employment.

What can I do to increase my pension?

That's your answer then. You keep your 2.5k UC and you put your entire salary into a pension. You'll then be basically almost on a level of Band 7 NHS staff in terms of your monthly take home "pay".

With all due respect, my DH and I both worked full time, yes it was in the public sector, we had children, couldn't claim anything apart from child benefit, but paid into our work pensions. We did it because we realised that one day we would retire. Was it tough? You bet it was, but now I have a decent pension. Sadly my DH didn't live long after state pension age, but I do get a share of his pension. ( he did take early retirement due to being made redundant, so had some time for himself)
You have to make a choice. Only working 4 mornings a week isn't going to provide you with a decent pension. So, don't work extra now equals small pension , or up your hours for the future.

Ok sure. But it was better at the time that you did claim the UC than not have enough money to live on. So it's really just the lack of working hours than the fact you claimed. You'd have just as little if you didn't claim UC.

You either work at least full time now, while you’re still young and capable, or you accept that you’ll have to work into your seventies because you can’t afford to retire.

Lots of people have to do both.

@Worriedaboutmypension I don't mean to be nasty, but you are 20+ years into your working life and you have contributed at 40% of full time for 8 years, so for an equivalent of 3.2 years full time. What were you expecting? If you want any sort of pension you need to massively up your contributions. Get a full time job and overpay into your pension if you can.

You’re clearing £3.5k, your rent is £1.2k, you only work 4 mornings a week - so you have £2.3k to pay bills and potentially save. Unless you have 8 kids you surely are saving some of that £2.3k? Or would saving affect your UC too so you have to spend it?

Sure this must be rage bait.
I guess if you’ve made the choice to work so little and have a good monthly income from UC, the insufficient pension pot is the payoff from that choice. With income like that you’d be better beefing up an ISA each year and have decent savings pot in 20years time. Don’t expect any sympathy here though. Most people are holding down full time jobs, financial pressures, and future planning. It can feel quite galling that one would have more money in the present time if they worked less and claimed benefits (if this is, for one second, the case here.) But folk with a half decent pension made the decision to work and contribute /sacrifice a chunk of their earnings for their future.

I think this thread is a wind up or OP will come back as say she has 4 children with disabilities and she has undiagnosed ADHD and can’t work more.

Rage bait?

Who are being home schooled apart from
The hours she’s at work and they re at forest school..

What in the name of some kind of fraud is going on here then.
All that income all rent paid,
You get more than me op.
Are you getting CB tax credits UC topups maybe Cm from the dad.
Something dont smell right.

I might give up what im doing go part time have some kids get my rent paid for me.
And get all the UC topups i can plus rinse tax credit and CB till each kid is 20, each kid will have some sort of sen so i`ll need pip for each, oh and leave the dad so i can get CM.
Im gonna be rolling in it.

You can’t get Tax credits and Uc. Uc replaced tax credits

You barely work OP and you are surprised about your pension?

This is a very rage bait post. I’m as left wing as they come and even I’m saddened by this shit which makes no sense. You have a take home of 3.5k a month. Ffs.
edit to add that OP needs to take care as this kind of income will not last forever. The country is almost broke and she needs to try and up her earning potential.

I dont have kids as you may tell lol.

I have a reasonable job and don’t take 3.5k home. It’s disgusting.

Do you get UC because you have children? If so what age do these benefits stop?

Same as me i work like a dog, just to get by and posters like this have it all claiming in.

I dont have kids but have read on MN that some claim some benefits for their kids till there 20.
So claiming kids money for adults.

Why will you be worse off overall? That's not the way that UC works.
You haven't answered about your state pension either. If you've been working since you left school your employer should have been making national.insurance contributions for you which will entitled you to a state pension. Have a look at your state pension forecast and see what you need to do to make it a full state pension.

If you’re getting 1300 in UC outside of your rent and after earning 1k you must have disabled children or be a carer?

Otherwise your standard UC allowance for you plus max 2 kids would be about 1k, of that you would have a reduction of about 170 because of your earnings so your UC amount would be circa 830

You can still get Housing Benefit once you are on a pension so long as you are on a low income (ie just pension and pension credit) but only for the cost of a 1 bed flat, not for a family home.

I have a very stressful public sector job with long hours and a lot of risk and I only take home this much

The whole system needs deep reform

Yes this is what I mean, I've just come to understand that I won't be on this income forever.
I've been living on 3.5k a month and I'm worried I won't be able to afford bills etc when I'm on a pension.

The government didn't warn me of this.

Ah ok, this is interesting thank you.

Please don't make this a benefit bashing thread. I am asking advise for how to better myself.