UK Pension up

lexia wrote:People retiring over the last few year’s and in the future do not receive SERPS anymore ! I have wrote to two pension ministers wanting the reason why. Still waiting for a reply.

SERPS was a secondary pension that you paid into by paying extra into your NI. It only ran from 1978 to 2002.

When you get your state pension forecast, you will get a certain percentage of SERPS depending on how many years you paid into. Those with a private pension would not have had the secondary pension.

If you were born before 1951 for men and 1953 for women you will get a lower pension of around 178 pounds a week. Those born after those years but retiring before 2016 get around 203 pounds a week due to SERPS.

If you retired after 2016 then you paid less NI and the basic state pension for those retiring after that will be 156.20 but you were given the opportunity of paying into a workplace pension. If you didn't then the 156.20 is it.

Yes, the pension is classed as a benefit (I wish they'd think up a different word as people actually paid into a fund to get it) and comes out of the same budget as other benefits, many of which people haven't contributed to.

Thorny subject. I'm on the middle bit of that at around 178 a week but my neighbour gets the 203 a week as he's several years younger than me.

Thankfully I have a couple of other pensions but do get hit for taxes, both here and UK.

My wife, who followed me around the world when I was in the mob, gets about half what I get which is based on my pension contributions and the few years she worked in UK. If she'd been born 5 years later she could claim marital NI contributions which would give her a full pension (a bit like those taking breaks from work to look after children) but only for those born after 1955 and you can claim for all service overseas since 1975 but not if your age is against you. If she'd been born after 1955 she could claim for the 15 years we were abroad after 1975.

Still, it's the way things work and there's not a lot we can do about it. i can see a time coming when pensions will be income based.

Mothers who don’t work / in employment get their NI paid if their last child is 19 or under and still in full time education My husband paid my stamps and I now get a pension. I told many friends this and they too get their pensions They were the days when a mother cook look after the home and her children and have dinner on the table at the end of the day. Nowadays, my daughters both work, are responsible for the children, cook, clean and look after the home. Both husbands believe that they help but it’s usually minimal. Being a wife and mother is a full time job which the government should have had the wit to realise and given them a weekly payment for their efforts. As they didn’t , women had to go to work and fight for equal pay, taking jobs that men could have had and as soon as that happened , with 2 salaries coming in, couples could afford to pay over the top for a house thus pushing house prices up, up, up. Where are we now? Young couples are forced to rent, cannot hope to buy and all in all are left in a sad situation.

Obviously your telling us from a woman's point of view
lot of men do there share in the household,
You say your daughters work and are responsible for the children ,cook, clean keep house, surely they thought about having children and its a joint decision, and am sure they are both husband & wife are responsible for them , not just your daughter as you say, married family should work together in picking up and taking children to school etc,
what about the saying
"Wait till your father gets home"
if the child's misbehaved, that's passing the responsibility on ?

Gustav wrote:Obviously your telling us from a woman's point of view
lot of men do there share in the household,
You say your daughters work and are responsible for the children ,cook, clean keep house, surely they thought about having children and its a joint decision, and am sure they are both husband & wife are responsible for them , not just your daughter as you say, married family should work together in picking up and taking children to school etc,
what about the saying
"Wait till your father gets home"
if the child's misbehaved, that's passing the responsibility on ?

I though the same.
"Both husbands believe that they help but it’s usually minimal.".....talk about a micro-aggression!!!

marcliff wrote:

lexia wrote:People retiring over the last few year’s and in the future do not receive SERPS anymore ! I have wrote to two pension ministers wanting the reason why. Still waiting for a reply.

SERPS was a secondary pension that you paid into by paying extra into your NI. It only ran from 1978 to 2002.

When you get your state pension forecast, you will get a certain percentage of SERPS depending on how many years you paid into. Those with a private pension would not have had the secondary pension.

If you were born before 1951 for men and 1953 for women you will get a lower pension of around 178 pounds a week. Those born after those years but retiring before 2016 get around 203 pounds a week due to SERPS.

If you retired after 2016 then you paid less NI and the basic state pension for those retiring after that will be 156.20 but you were given the opportunity of paying into a workplace pension. If you didn't then the 156.20 is it.

Yes, the pension is classed as a benefit (I wish they'd think up a different word as people actually paid into a fund to get it) and comes out of the same budget as other benefits, many of which people haven't contributed to.

Thorny subject. I'm on the middle bit of that at around 178 a week but my neighbour gets the 203 a week as he's several years younger than me.

Thankfully I have a couple of other pensions but do get hit for taxes, both here and UK.

My wife, who followed me around the world when I was in the mob, gets about half what I get which is based on my pension contributions and the few years she worked in UK. If she'd been born 5 years later she could claim marital NI contributions which would give her a full pension (a bit like those taking breaks from work to look after children) but only for those born after 1955 and you can claim for all service overseas since 1975 but not if your age is against you. If she'd been born after 1955 she could claim for the 15 years we were abroad after 1975.

Still, it's the way things work and there's not a lot we can do about it. i can see a time coming when pensions will be income based.

As an add onto all that information that people retiring now get what is called the new state pension, currently £203.85 per week increasing to £221.20 next April

Lynn

Replying to Gustav
Both my daughter and her husband have high powered jobs which are very demanding. Almost every week she is on a ‘plane to USA , England or Geneva. Flies out at 6 am on a Monday. One child has started Grammar school and the other one will in 2 years time. It’s non stop. The kids go to afternoon clubs for chess, cooking, netball, endless. Different pick up times. The children have never used public transport but G can walk if necessary. The logistics are endless, mini rugby on Saturday mornings, swimming and on and on. All I’m saying is that mothers have an enormous responsibility. Yes, Dads do too but it’s always on the mother’s shoulders. We don’t live near enough to help with pick ups or we’d happily do our bit. Our son in law can work from home if necessary
and he races off to collect the kids but ends up sitting at his computer until late at night. Is this the life we chose for our children? I’d much prefer the simple life we had years ago.

I don’t like the idea of calling the pension “benefits” instead of pension. I worked bloody hard for that pension and to see the government trying to politicise it as a “benefit” riles me. It’s an entitlement! I paid into it, they have my money, earning interest on it and keeping it if I drop off the perch early. Shysters the lot of them!

Jeremy,is cutting NI Contributions by 2p, with pensions increasing, and pensioners living longer than they used to, that ain't gonna work is it? Don't really make sense

Mac3blade wrote:Yes, Dads do too but it’s always on the mother’s shoulders.

Interesting choice of word. "Always".

Would you care to justify that?

Mac3blade wrote:Replying to Gustav
Both my daughter and her husband have high powered jobs which are very demanding. Almost every week she is on a ‘plane to USA , England or Geneva. Flies out at 6 am on a Monday. One child has started Grammar school and the other one will in 2 years time. It’s non stop. The kids go to afternoon clubs for chess, cooking, netball, endless. Different pick up times. The children have never used public transport but G can walk if necessary. The logistics are endless, mini rugby on Saturday mornings, swimming and on and on. All I’m saying is that mothers have an enormous responsibility. Yes, Dads do too but it’s always on the mother’s shoulders. We don’t live near enough to help with pick ups or we’d happily do our bit. Our son in law can work from home if necessary
and he races off to collect the kids but ends up sitting at his computer until late at night. Is this the life we chose for our children? I’d much prefer the simple life we had years ago.

Its the life your children have chosen for there children,
Obviously the high powered jobs pay high rewards, monetary rewards over spending time looking after your children its a choice, not one I would make,
Work for your needs
Not for your wants,
You can only wear one pair of shoes at a time!