Scope community team
There are a lot of injustices and anomalies in the systems. One big problem is that people thinking up rules are themselves senior civil servants, with secure comfortable circumstances and inflation proof high pension incomes. They can imagine a poor person, probably a street beggar is in their minds. They might assume he is probably poor because he drinks all his benefits and won't work. Self employed people, disabled people, people with no private pension but instead a little bit of savings, just don't cross their minds. A state pension in U.K. is the worlds' worst. £80. Savings means no pension credit, no council house, no housing benefit, no anything.There is no allowance for any savings which are instead of, not as well as, a private pension. The same thing happens for a lot of impoverished people. A complicated system and a lot of faulty assumptions mean that one person hits something of a benefits jackpot, and the next hits a benefits bear trap. Sunak flinging money around has made the injustices much worse. Money up to £2,500 as a strange 'elite aristocracy of unemployed, called furloughed' goes to unemployed casino staff and airport bar staff, but not a single penny to social care. Twenty pounds extra is given to some, but not all, including those pensioners with no inco't,me except £80 a week, and others falling through all those traps. Disabled people, and their unpaid carers, never feature in the lavish handouts. We know that living full time in care homes is for a tiny minority, and the majority live at home, but government and journalists don't.
*Moderator note: The amount of State Pension you’ll receive depends on how
many ‘qualifying’ years of National Insurance payments you have. £175.20 stated
in this post is the maximum you can receive if you are either a man born on or
after 6 April 1951 or a woman born on or after 6 April 1953 and have made the
required national insurance contributions. See here: New State Pension
The decision was made to split these posts from the original
thread as while savings were topical and the original poster expressed concern
over pension contributions, it was felt that the subject would be better suited
as a separate discussion and a few posts have been edited to reflect accuracy. If
you have further concerns regarding our moderation these would be better
handled by email or PM so as not to derail a thread.
Pensions are a very important topic, especially when there
are still 1.6 million pensioners living in poverty.
I’m not a pensions advisor but a few notes on the subject:
While the new State Pension amount is £175.20 for those
claiming after 6th April 2016, as @newborn mentioned this is the ‘maximum’ someone
can receive (unless you defer or have Additional State Pension),
but by far not the minimum. For example, if I were to stop making contributions
now my state pension is forecast to only be around £60 per week. While there is
pension credit which can top up a person’s income, not everyone is eligible for this and it is
impacted by savings which is what I believe @newborn was trying to explain.
The £80.45 mentioned is thread is regarding the over 80
pension which sadly is just £80.45 per week.
As a few of the different comments mention, there is of course pension credit, which is massively
underclaimed and perhaps something this thread should aim to drive awareness
of. I was absolutely stunned when I found out that in a recent year £2.5 BILLION
of available pension credit went unclaimed.
Read the eligibility section carefully.
I have not, repeat not, posted inaccurate information. Savings, to varying levels do, repeat do, count to disbar from any means tested benefits and with great anomaly built in. Using savings in what might seem reasonable ways is not necessarily viewed as reasonable.Those who refuse to read the government website, which I carefully and correctly, repeat correctly, summarised, may refer to Adrian_Scope's helpful summary above. Those who can do that might accept his word that if he stopped paying today he would get £60, and that state pension for over 80's is, just as I stated, £80.45 (25p is an over 80's supplement)