Dozy Posted March 9, 2011 Share Posted March 9, 2011 Snap. Pension credit has done many pensioners no favours. Anyone with even a small private/occupational pension, (which they may have scrimped for) can end up only marginally better off than if they'd not put a penny by during their working lives. It would have been much fairer to give everyone at least the same basic, and used income tax against big private pensions. However, I'm fairly sure this suggestion of IDS won't be for those of us who are already retired. My bold That's the position I'm in - I took early retirement from the Civil Service and, when I finally reach my "adjusted" pension age in 3 years or so, I won't qualify for any top ups, because of my Civil Service pension. I also put extra contributions into a private pension scheme, the payment from which have dropped from £25 a month to about £18!!! I've got my fingers crossed they implement this scheme before I retire, so I can benefit from it. I hope it's not another instance like the Civil Partnership legislation, where they dragged their feet for so long that I lost out on getting some of my partner's pension when she died. Link to comment Share on other sites More sharing options...
Mecky Posted March 9, 2011 Share Posted March 9, 2011 The top and bottom of it is that we are repeatedly told that cuts have to be made and that generally means people are to be punished. Link to comment Share on other sites More sharing options...
nikita Posted March 9, 2011 Share Posted March 9, 2011 Just seen this snippet from the article: " Some higher earners with a full NI contribution track record are already receiving £200 a week or more. " It does seem to penalise those who have worked hard to ensure they've always contributed to National Insurance. I understand some of the benefits, but find it interesting that they've gone for a "middle ground". Perhaps not a massive issue in this case, but it does seem to suggest that going the extra mile will not reap its rewards. Just my take on it though. Will the ones already on £200 pound a week pension have theirs cut to £140, that does not seem fair after they have worked all their lives. Link to comment Share on other sites More sharing options...
Ms Macbeth Posted March 9, 2011 Share Posted March 9, 2011 Will the ones already on £200 pound a week pension have theirs cut to £140, that does not seem fair after they have worked all their lives. I wouldn't imagine so. I read it that those with less state pension would get theirs raised to £140, and pension credit would no longer exist. That alone would save a fortune in all the costs of regular means testing. Those with more than £140 would continue to get the pension they'd accumulated. Link to comment Share on other sites More sharing options...
SimpyTimpy Posted March 9, 2011 Share Posted March 9, 2011 I wouldn't imagine so. I read it that those with less state pension would get theirs raised to £140, and pension credit would no longer exist. That alone would save a fortune in all the costs of regular means testing. Those with more than £140 would continue to get the pension they'd accumulated. If that's the case then that's good news all round really, sensible policy. Link to comment Share on other sites More sharing options...
andyofborg Posted March 9, 2011 Share Posted March 9, 2011 However, I'm fairly sure this suggestion of IDS won't be for those of us who are already retired. it think it would have to be, part of this modification appears to be being funded by reducing the horrendously complex administration of the various benefits and credits, having to manage two separate schemes would be more complex Link to comment Share on other sites More sharing options...
cressida Posted March 9, 2011 Author Share Posted March 9, 2011 I wouldn't imagine so. I read it that those with less state pension would get theirs raised to £140, and pension credit would no longer exist. That alone would save a fortune in all the costs of regular means testing. Those with more than £140 would continue to get the pension they'd accumulated. So if for instance someone receives £140 per week when they are 60 and they are a carer, how much more would they be entitled to? Link to comment Share on other sites More sharing options...
Dozy Posted March 10, 2011 Share Posted March 10, 2011 So if for instance someone receives £140 per week when they are 60 and they are a carer, how much more would they be entitled to? If you're referring to Carers Allowance, I think that stops when you reach retirement age, because you get a pension and can't receive both. Link to comment Share on other sites More sharing options...
cressida Posted March 10, 2011 Author Share Posted March 10, 2011 If you're referring to Carers Allowance, I think that stops when you reach retirement age, because you get a pension and can't receive both. Oh I thought pensioners received a component of the Carers Allowance (or Invalid Care Allowance as it used to be called) Link to comment Share on other sites More sharing options...
Dozy Posted March 10, 2011 Share Posted March 10, 2011 Oh I thought pensioners received a component of the Carers Allowance (or Invalid Care Allowance as it used to be called) Ah - you might be thinking about Attendance Allowance! That's what people get if they need help to manage, and is not age-restricted. Carers' Allowance is the pittance that the Government kindly gives to people who spend a minimum of 37 (I think) hours looking after somebody else. As I said, that stops when you start to recieve the old age pension. Link to comment Share on other sites More sharing options...
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