gap between old and new state pension
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starvinmarvin
Community member Posts: 4 Listener
Hello,
With the triple lock in place, state pensions will rise.
I received my state pension some years ago and it is no where near the current new state pension.
With my pension rise being less than the new state pension rise, each year, the gap between the two state pensions will grow.
In 20 years time, hopefully still here, the gap between the two pension could be much larger.
Has Scope any plans in place to address this shortfall between the new and old pension systems for older pensioners.
Is my logic about this Correct?
With the triple lock in place, state pensions will rise.
I received my state pension some years ago and it is no where near the current new state pension.
With my pension rise being less than the new state pension rise, each year, the gap between the two state pensions will grow.
In 20 years time, hopefully still here, the gap between the two pension could be much larger.
Has Scope any plans in place to address this shortfall between the new and old pension systems for older pensioners.
Is my logic about this Correct?
Comments
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I'm not sure scope will want to address state pensions as they are a charity about disability, the gap between the pre and post 2016 SRP will stay about the same as they increase by the same % each year, this year it's 8.5%2024 The year of the general election...the time for change is coming 💡
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Hi
Sadly this is not the case. Disabled people get the state pension, this will effect them.
The gap will rise 8.5% increase on say 1000, will be less than 8.5% on 1200.
This gap will grow, year after year -
Pension Credit is available for those pensioners on low incomes https://www.gov.uk/pension-credit
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Hey @starvinmarvin, Scope have been campaigning for more government support around the Cost of Living crisis. Specifically around an Energy Social tariff alongside 148 other organisations such as Age UK. There is no specific pension policy we are campaigning for, but we know many people who are pension age are also disabled.
There has not yet been a policy update since the new budget came out earlier this month. If anything happens I will let you knowThey/Them, however they are no wrong pronouns with me so whatever you feel most comfortable with
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Opinions are my own, such as mashed potato being bad. -
starvinmarvin said:Hi
Sadly this is not the case. Disabled people get the state pension, this will effect them.
The gap will rise 8.5% increase on say 1000, will be less than 8.5% on 1200.
This gap will grow, year after year
A £1,000 pension after ten 5% increases would be £1,629
A £1,200 pension after ten 5% increases would be £1,955
What was a £200 gap will be £326 after 10 years which is exactly ten 5% increases
IOW...being £326 worse off in 10 years is the same as being £200 worse off today
Hope this makes sense?
(Not saying it's right or wrong just trying to explain) -
starvinmarvin said:Hi
Sadly this is not the case. Disabled people get the state pension, this will effect them.
The gap will rise 8.5% increase on say 1000, will be less than 8.5% on 1200.
This gap will grow, year after year
For those on the pre 2016 pension many will qualify for pension credit.
As far as disabled people and pensions go many will still be claiming PIP when they reach 66 or AA if they aren't at 66 but become disabled after they are 66, so for many disabled people SRP aren't as big an issue.2024 The year of the general election...the time for change is coming 💡 -
starvinmarvin said:
With my pension rise being less than the new state pension rise, each year, the gap between the two state pensions will grow.I would appreciate it if members wouldn't tag me please. I have all notifcations turned off and wouldn't want a member thinking i'm being rude by not replying.If i see a question that i know the answer to i will try my best to help.
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