Why is the state pension called a benefit. We have paid into this all our working life we paid for the right to have a pension if the governments now and in the past has used this money for other things that is not our fault we paid in in good faith. It is a pension not a benifit
Agreed, I've been banging on about this for years, it is NOT a benefit we have paid for our pension for years with deductions from our wages/salaries which no doubt many of us could not afford at the time.
Trust me within five years Labour will be mar a testing your state pension - you just don’t know how this is gonna end - Starmer will be kicked out within a year and the Corbynites will take over
Like all pensions, contributions to National Insurance Fund are non taxable and pensions are only taxable if the overall individual income is higher than the minimum threshold.
@@Daisy-tl2lhContributions to the National Insurance Fund (pays state pension) are non-taxable at the time of earnings as are occupational pension contributions. Additional private pension contributions are only eligible for 50% discount for tax. When in payment, pensions are only taxable if the overall income in any year is over the minimum threshold and normal tax allowances are applied when calculating tax liability.
They have decided to stress to people that it is a benefit now so that it fits into their devious pension 'means testing' plans .... as apparently happens in Australia!
When my state pension statements arrived when I turned 66 I was utterly offended by the use of the word 'benefit'. I'd rather the letter had said "Here's your f**king state pension benefit." At least that would've made me laugh.
In the 1990s I sold pensions on the strength that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial advisor is crucial for achieving long-term financial stability and freedom.
@@hasede-lg9hj I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
My husband died in a road accident 16 years ago. I don't intend to marry again. He was my soul mate. The Govt have decided to keep his 2 decades of state pension money by telling me it is a "benefit" I'm not entitled to. I don't want anything more than he paid in. How is that a benefit payment. I am being penalised for my husband dying young and me not remarrying! I see this as nothing less than theft. Just like inheritance tax is pure theft.
@@Andrea-ol3uo Yes Andrea, it IS theft. The DWP / Government, changed the Pension to a Benefit a few years back for one simple reason,,,a Benefit can be raised or lowered or even cancelled. These scumbags have no interest in the people they hurt nor care who they drive into poverty. I'm 77 living on my own and hate every one of these stinking b******s!!!!!
If you are widowed and remarry then you are not entitled to your husbands pension or any part of it. However if your husband dies the DWP look at your pension and his and pay you the highest of the two. Im widowed and inherited my husbands pension because it was higher than my own.
If you log into Google with “is the state pension a benefit.” you will see that the state pension has always been classed as a benefit and not a pension.
Interesting fact..... My husband turned 80 in May and got a nice letter from the pension 'service' informing him of his new, age related bonus payment............. 25p per week!! I don't think either of us has ever felt so insulted, ever.
My wife and myself got our 25p per week each it’s a bit of a joke really so why not give this to our NHS where the combined totals of these over 80s payments could make a meaningful difference
"25p per week", don't spend it all at once 😂. Really, now compare the pension our civil servants and MPs have managed to extort for themselves, to what everyone else gets.
@@JaneCalladine Jane here is a prediction for ..at the next budget or later labour will raise the free prescription from age 60 to 65.In later years they will reduce the state pension if you have another private or Government pension this is on the cards .just wait it's coming!
@@bertiewooster3326 oh I am quite sure you re correct. Pensioners in general won't riot or cause too much hassle as they well know. They just keep degrading us and treating us as scroungers when we actually helped build this country. Good luck with the current youth, they won't work and pay taxes so easily, the object now to funding pensioners. Good job we didn't.
You’ve paid tax all your life whilst accruing a pension. Then when you’ve qualified for a state pension, you have to pay more tax over a certain amount if added to your personal pension! What a load of bollox!
My wife passed away 17 January 2018, it took the DWP 6 years for them to work out that I was entitled to part of her state pension and sent me a cheque for the back pension i was entitled to and increased my pension accordingly, they informed HMRC who promptly informed me that I had to pay tax on the back payment from the DWP, if they employed people who were capable of doing the job they are payed to do, they could half the people employed by the DWP and HMRC save a fortune and not cause stress to millions of people
That was really interesting because someone told me she had inherited her husband state pension and I was sceptical cos I'd never heard it before. Thank you for explaining so well.
I was one of the women who had to wait to 66yrs. My husband died at age 55yrs. I read the website and realised I could claim his pension! He had to have died before a certain date and not retired until after his death, if that makes sense! However, it took 3 phone calls before it was agreed I could claim. The first two calls they argued it, the third call was a lovely man and was so helpful. I got £32 per week. Not to be sneezed at!
They want to tax your welfare benefit aka state pension if you have worked 35 years and qualify for it, bit if you have never worked and claim welfare benefit amounting to 20 to 80k a year it will not be taxed, both are welfare benefits and both are income but only one is getting taxed this is wrong is it not??
Yes if that’s happening, but as ever good luck in trying to remove or reduce benefits to the unemployed / welfare claimants. Does not which political party tried this the press would whip up a storm about it
I remember when my wife died i phoned the pension people and asked for her pension .she had paid in for 30 years. . what i recieved wouldnt buy me a burger and fries
Yea it's bad, I know that if I die then my wife will get a good 30 or 35 % of my pension every year, plus a one off payment of 3 times my salary, but that's only because I'm in the public sector, but that's still 60% gone, but at least it's guaranteed she will get that each year
Despite having 45 years contributions when I retired in 2017 at aged 62, I discovered tha I didnt get the full State Pension when I was 66 (allowing for adjustment to take account of periods when I was "contracted out". Nowhere in the Gov.UK website does it mention you have to continue paying NI contributions until State Pension Age, regardless of the fact your contribution record is equal to or exceeds the maximum qualifying years.
@@petersavage4207 . It seems that, if you choose to retire before your state pension age, to ensure you get the full pension you must continue to pay NI contributions up to your state pension age. I only discovered this when I received confirmation of the amount, highlighting the gaps in my NI record from aged 62 to 66. I had the opportunity to pay for the 4 missed years, totalling approx' £4,000 but chose not to as I had fulfilled the requirement for "qualifying" years. DWP had no answer for this and suggested that I appeal but was told "any appeal would likely fail"😔.
I researched the “benefit” reason and this is what I found. The State Pension when it started was to provide approximately two years worth of pension as it was assumed at the time that most people only lived until 67. The National Insurance that you pay in provides for Health Services, Sick Benefit whilst working etc and the actual contribution to Pension was roughly 2%. It was therefore classed as a benefit and continues to be so. If the government had set aside the 2% contributions of a very much smaller workforce (bearing in mind that women did not always work) the State Pension as we know it would have ended many years ago or we still only be entitled to 2 years worth. I was always under the impression that I had paid enough working 50 years but we all start off earning a little and maybe if you are lucky and a professional pay a bit more in later only to usually reduce your hours/pay in the latter years. If you live to 98 like my mum in law who receives full pension after 50 years of work there is no possible way she would have contributed enough. Yes it galls but if you had paid into a private pension it would all be spent by the time you are roughly 75-80 unless of course you are a public servant or in the medical profession.
That's incorrect, the data has almost certainly been manipulated. The State Pension introduction, in 1948, was based on longevity of 3 score years and 10, which is 70, in case you didn't know and it was thought that most people would average out 5 years after retirement at 65, for men, 60 for Women, at that time. The pension age has been increased and will keep increasing due to longevity reaching 80 for many. For men it's generally been improving over the years, largely due to drugs that are helping people live longer. If the NHS, were to collapse, not unthinkable today, this would change dramatically and longevity would fall significantly. By way of a strange analogy, it is the very expansion of the NHS, the new treatments, that is helping drive the longevity upwards, but it has at least flattened out. By increasing spending on the NHS, state pension commitments have risen alongside due to life expectancy increasing. With no NHS dentist in our area and the only people getting free treatment are the migrants, due to the way the NHS is funded. Top that with the difficulty of getting GP appointments or an ambulance in an emergency and you're almost certainly going to die a lot sooner than you would have done, without the population movement to this country we've seen over the last 27 years.
I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime. $500/month invested from 25 - 65 at 9% is $2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?
I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
Generally speaking, a good number of people discredit the effectiveness of financial advisor in planning for retirement, For over the past 5years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
*Izella Annette Anderson* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Actually they can do, but most benefits will be under the tax threshold. However, employment and support allowance (ESA) and jobseeker's allowance (JSA) can be taxable if they are paid based on National Insurance contributions you have made, or can be non-taxable if they are instead means-tested (based on your financial situation). Currently State Pension is below the tax threshold but uou would pay tax if you have other pensions or income.
The State Pension is an investment on the part of the individual, it is not a benefit. A benefit can be withdrawn. Is this why the government label it a benefit. The pension system should have been organised like a private pension but sadly politicians are ignorant of the financial world and how it works.
I remember the ridiculous days of equality where you couldn’t advertise for a pig man 😂😂😂. Now when it suits the government they can have a grossly unequal pension system 😊
Same here, 71 in April but I did get a full pension probably due to having 3 children spread out in years and work before and after and in between. I have the full pension although there was briefly some additional pension due to working when that was possible. Thats disappeared now though. I don't understand anything about it how it all works. I've never done the reduced N I contribution, always the full one.
@@lindabridges9483 I had to wait xtra years for my pension and I do not think it fair that we had to accept the old pension rate whilst others who also waited fell into the new system. It stinks!!!!!!!!!!!!!!!!!!!!!
There is no “Pension Pot’ your pension is paid by people working today vis NI contributions. There’s about a 6 week overlap. In theory if we stopped paying NI contributions the money for state pensions would run out in around 6 weeks. It’s a rolling process.
My state pension by no means enormous just over the tax threshold. Husband passed 5 years ago and the small amount left to me eroded each year due to freezing tax thresholds. Its now worth nearly nothing.
I have been a widow for 8 years I have written three times and emailed the pension service , to ask if I am entitled to some of my husbands pension . To date there has been no reply .
The state pension is a "!very expensive benefit" except for the fact the it's much better in 15 other European countries including R of Ireland. Presumably they'll lose their state pension service before we do? Not a chance, the Uk will be the first to ditch it.
@@englishterry8084 But it is being called that in places, it looks like it is becoming means tested in the future, which is abominable when we have paid towards it for decades.
@@lsmith992 Certain politicians and some of the corrupt media started calling it a benefit , we worked for what we receive unlike those that have contributed sfa and will still get it … If labour get into power they may remove free bus passes for pensioners as talked about by starmer …..
@@englishterry8084 so exactly when did Starmer state this? If we’re going to loose Pension it will be under a Tory/Reform type government. It’s already been put forward last year by the Tufton street Tory think tanks.
In reality there should be a tiered pension scheme to reflect the level of N.I. Contributions the person has made. If you have had credits applied either due to unemployment, children , ill health etc then you get a basic entitlement. Once you are paying above this then you should be entitled to an enhanced pension. Just look at the level of deductions for both employee and employer if the worker is earning 60, 70, 80K plus a year
Thank you, that was very well explained and covered a lot of complex issues. My husband died before being old enough to claim his pension. I retired 6 years after he died and received a 60% share of his pension excluding any contracted out years, I don't know if I got 60% of his additional pension as I do not recall it being mentioned. Is it too late to ask? I have been getting my pension for 16 and a half years under the old scheme.
The state pension is included in the billions shown in government Welfare Benefits. Your NI contributions disappear into Treasury income, there is no pension fund. This irritates young people whose taxes pay for old folks pensions and annoys old people to see them described as Welfare Benefit Recipients. Gordon Brown (recently elevated to some medieval high office) sold off British gold reserves to the Chinese at the bottom of the market, then taxed dividends on private pension funds. Stuffed any decent increase in my work pension. At least Tony Blair is still around to save us as the ‘Middle East Peace Envoy.’ Hallelujah.
Shock horror - I am a married woman pensioner and my state pension is considerably more than my husbands, due to SERPs. Can he claim on an equal basis?
I'm now retired, and for years was contracted out. But, as an offset, I was earning good wages after I left my contracted out employment, so was contributing an awful lot to SERPS/S2P. I receive the full 'new' state pension (to the penny). I've tried to contact the DWP to understand how my pension payments are made up, as I understand that there were 'transition' rules in place to ensure the SERPS/S2P contributions were still accounted for. Not a response - I've tried calling when I got no response to the letters I sent, and the person on the end of the phone didn't have a clue what I was talking about. Still waiting. Is there any chance that you could explain, in some detail, how these transitional arrangements were worked out, please?
Think it’s reciprocal arrangements. If, as offered to me I had gone to Canada after retirement my Crown pension would be frozen at the rate then, 39 years ago. Same with state pension, 19 years ago. At 84 years of age, paid taxes since age 16. Paid £2 a week and deducted shilling income tax and shilling union dues, I’m better off than any time in my life. Britain is fkd, no doubt about it - but it’s probably better here than any other country. (Apart from the weather).
you should have made it clear what the state pension age was/is as the rules on that changed as well. My own chartered financial planner has been trying to get an answer on this since October last year and the DWP still cannot tell me if my wife will get my pension when I croak. How can you possibly make sensible retirement plans when the pension provider (HMG) cannot provide a simple answer to a very obvious question. The sooner we move to a scheme like the Singapore Central Provident Fund, the better. Current arrangements are a legalised Ponzi scheme.
I didnt think a partner was entitled to any pension from their spouse if they died as we all have our individual NI contribution records. This surely has to work for the husbands as well if appropriate
I guess its called a benefit as in the term of a DB pension whrre the benfit is defined, but its not a state benefit. I suppse ypu could argue the state pension isnt taxed as it will take up all ylur tax free aloowence, then any other income you recieve or earn will be taxed
Interesting that self employed people or people working abroad choose to pay NI a as they want a state pension ?Why would they do that if it can be taken away
I have checked through my government gateway and it shows I am entitled to full state pension, is this totally reliable? also do I have to claim my pension or will it all happen automatically. Thanks just subscribed. I am 66 in Feb
The whole thing is unsustainable though. It’s a Ponzi scheme. It needs more contributors constantly to finance it. It has to remain a pyramid….well, as people live longer and the birth rate declines, so the pyramid became inverted. One of the reasons for so much migration is to try and maintain a pyramid shape but they’re not really contributing enough. Plenty are also claiming, and costing the Government hence unsustainable Government debt. At some probably in the not too distant future it is going to collapse. Oh they can print money, but that just fuels inflation. Youngsters with any sense are fleeing the country as digital nomads and I can’t blame them.
My husband didn’t get a letter at all. As a result we were unaware that you have to apply at least three months beforehand if you want to receive it at your retirement date. He applied at state pension age and received his first payment three months later however it was backdated. This could be a big problem for anyone wholly dependent on SP so important to diary date the application in case the letter doesn’t arrive. Also important is to check the small print underneath the huge font sized amount that you are entitled to, unless it has changed since then. It looks like you will get the full pension but, too late, I noticed it said “if you continue to make NI contributions for the next four years”.
Surely, if the State Pension is `means tested` in future and millions have it stopped, then likewise, millions will look to government depts to give them State benefits. So, as far as the Treasury is concerned it is `swings and roundabouts`.
I was opted out and retired in 2010 from work with 35 years NI contributions. I bought 8 extra NI years after 2016 and am now only 90 p short of a full state pension at £220.30, instead of a full state pension of £221.20. Not bad, i will only have to be in receipt of my state pension for 3 years before i get my 8 years voluntary NI contributions back after I take my state pension in Jan 2025. Then i am quids in for the rest of my life. Unlike a waspi woman, who expected to pay years less NI contributions than everybody else but expects a full state pension because they say they were unaware of pension changes affecting them ? I was exactly the same but i made it my business to find out and didn't expect free money, just by moaning about my ignorance ! They deserve nothing extra, it is unfair on everybody else, who has contributed the correct NI contributions.
Hi Carl thank you for your informative and helpful video. I got a wee bit lost though. Question, my civil partner receives a full state pension. I am only in my 50's. If he died tomorrow would I inherit his pension, but only when I am pensionable age, or would I inherit his state pension before then? Thank you.
Thank you for the feedback. Much appreciated. You may be entitled to some of his pension but only when you reach your own State Pension age. You will lose any benefits if you were to enter a new civil partnership before then.
The reason they claim "there is no pension pot" is because successive governments have raided the supposedly ring-fenced NI pot and used it for other purposes, it is in fact still considerably in credit - a fact that was verified in a FOI request by WASPI campaigners. The government should return what has been taken to pay for what it was originally intended for and for what we've all niavely made our NI contributions throughout our working lives.
They remove it and you are put on a single pension until you decide to sell assets and they put you on a very low pension, its called asset, a neither word for TAX .
Me too. I find the 24/7 care I give my disabled, Alzheimer’s suffering , 90-yr old husband is counted for nothing. It would cost a fortune to pay for what I do as an employee. It has also ruined my life for many years. Pensioners are just cheap labour to our negligent government.
You state that National Insurance contributions are required to earn a State pension. What if you are on.benefits and don't pay NI or very little NI will you not get State pension? What if you are a mother and very little NI or some earning above the Lower earnings limit but below the NI payment threshold. Interesting to know what happens.
It is ridiculous that state pension is called a benefit. However it does mean DWP can snoop on your bank account from jan 25. Just in case you are claiming too much benefit?
Concerns about the number of individuals who passed away before retirement age, particularly those who did not receive a pension due to vaccine-related issues, have been raised. To some who subscribe to conspiracy theories, it might seem as though there is an intentional effort to harm the older population.
I've always thought this pension lark is being somehow "managed". If you were running a business, after the employees were no longer useful, it would be er...more economical for the business to not have any long term payments to make ....if you get my drift. A bit like pit ponys ....
If like my wife's. It's nicked all but £1.33 a week of it. New state pension is a double whammy. No pension credit with it. And it's a way to have all her old pension eaten up by the state. Plus if you die before reaching state pension age then it's lost to her or him .
Why do you keep referring to your husband, as thou they will always die before the woman. What if you are the husband is left behind, do they receive the same rules.
I am 64 and still making still paying tax and N I. According to the gateway I should get full pension at 66. Just wondered if I move to Spain when I am 66 will I get full pension in Spain?
State pension, as previous comments mention is not a benefit. We have already paid into it during our working lives. If you have a small works pension it is also taxed , simply because the threshholds have been frozen. The word Free National Health makes me angry. It is not free. The hard working people of this country have paid for it via their taxes and national insurance. We also pay Insurance Premium Tax on our house insurance, pet insurance and car insurance. Plus car road fund tax, vat and duty on petrol. So what the heck has our parliament over the years been doing with our money. Take your state pension when it is due you and do not defer it if at all possible and draw it for as long as possible.
Hi, Im 61 this year and my wife 59, she has been diagnosed with MND and is unlikely to live to her pensionable age. What happens to all of he 35 plus years of contributions? Our retirement plans were based on us both having a pension once we were entitled to claim, this will present a shortfall in what we would have had together as I will npw be running a house on one pension?
Unfortunately you may only be able to claim some of any additional State Pension benefits after you reach State Pension and after your wife’s death. There may be other benefits you can claim like sick pay, carers allowance etc.
I haven’t watched the video or read the comments yet, but Im guessing if the pension has been paid, and you die before the next pension date, DWP are gonna want some of it back!
Sorry but I fell asleep after watching 3 minutes, in fairness I am almost age 82 and have lost my free TV licence along with the winter fuel cash so I feel the less I know the better I will feel. As regards the assisted dying saga it will probably be compulsory soon so there'll be no need for pensions will there Kier old chap.
The new state pension will make me poorer compared to pensioners in there 70s and 80s. I have to work an extra 7 years before receiving my pension. I also have worked full time all my life and on the new state pension at today’s rate. I am only entitled to £900 a month. My mum on her old state pension, who worked very little, gets part of my dad’s state pension and gets £1300 a month and retired at 60. The new state pension is a disgrace to the working person of today. How do they expect people to live on £900 a month.
U didn't mention someone who is of state pension age but the wife is not , does she get any of his pension?? The husband was on a pension before 2016... Your video has not explained this.. so this video is of no use to us...
I am 65 years old and paid 45 years of N.I. mostly on the highest band BUT I am told because I retired without any claims on benefits at 60 they tell me that I will have to pay another 4 years £3328 to qualify for my Full State pension
I took a works pension to add to the state one .now they tax my work,s pension .they now will be stopping winter fuel payments even though i. On benifit,s .make,s no different,s i hoped out of serp.s ( on legal advice) for 3 years hopped back in making payment,s now i find i.m paying back i call to see how long the cov would be taking those payments and was told till i died .thank you gov .any way we try and make life alittle easy the gov ponce on .. thank a bunch you m.p.s bet your life is rosy back hander,s ( brown envolope,s remember those scandels ) stte pension is an entitlement which we paid into for 40+ year,s and along they ( m.p. ,s )change the right,s of pensioners like switching on a light it make,s me sick .dad told me liebour coners will blame each other and just lie to the public but who as to pay the population we need rp b4 this country is done for
Why is the state pension called a benefit. We have paid into this all our working life we paid for the right to have a pension if the governments now and in the past has used this money for other things that is not our fault we paid in in good faith. It is a pension not a benifit
Agreed, I've been banging on about this for years, it is NOT a benefit we have paid for our pension for years with deductions from our wages/salaries which no doubt many of us could not afford at the time.
Pensions are your money via contributions paid in to call it a benefit is derogatory to anyone who has worked ,or is working.😖
so you can be Taxed.
You haven't paid more than you are going to take out chum.
Trust me within five years Labour will be mar a testing your state pension - you just don’t know how this is gonna end - Starmer will be kicked out within a year and the Corbynites will take over
Agreed. The STATE PENSION should NOT be INCLUDED as INCOME and TAXED either. IT IS a PAID FOR ENTITLEMENT !
money earned and going into the pension has already been taxed
Like all pensions, contributions to National Insurance Fund are non taxable and pensions are only taxable if the overall individual income is higher than the minimum threshold.
@@Daisy-tl2lhContributions to the National Insurance Fund (pays state pension) are non-taxable at the time of earnings as are occupational pension contributions. Additional private pension contributions are only eligible for 50% discount for tax.
When in payment, pensions are only taxable if the overall income in any year is over the minimum threshold and normal tax allowances are applied when calculating tax liability.
@@Daisy-tl2lh So basically you're taxed twice on it.
@17portland
Neither of my parents lived to pension age!
Compensation to young family. ??
It's not a benefit!
I thought just that but unfortunately it is a benefit and has been for a very long time but didn't bother to tell anyone.!
Its not !its money "we" paid into ,but crooked politicians are scheming!
They have decided to stress to people that it is a benefit now so that it fits into their devious pension 'means testing' plans .... as apparently happens in Australia!
When my state pension statements arrived when I turned 66 I was utterly offended by the use of the word 'benefit'.
I'd rather the letter had said "Here's your f**king state pension benefit." At least that would've made me laugh.
It is classed as a benefit right now.
As my father used to say, if it becomes over complicated it is becoming illegal or immoral!!
Let government get involved in something and it will rarely be simple!
Usually both
In the 1990s I sold pensions on the strength that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial advisor is crucial for achieving long-term financial stability and freedom.
@@hasede-lg9hj I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
My husband died in a road accident 16 years ago. I don't intend to marry again. He was my soul mate. The Govt have decided to keep his 2 decades of state pension money by telling me it is a "benefit" I'm not entitled to. I don't want anything more than he paid in. How is that a benefit payment. I am being penalised for my husband dying young and me not remarrying! I see this as nothing less than theft. Just like inheritance tax is pure theft.
It’s outrageous that you and many other women who their partners died early have to fight for what is rightfully yours . Enjoy your retirement
Scum bags only interested in money -, OURS they nothing without theiving from taxpayers
@@Andrea-ol3uo Yes Andrea, it IS theft. The DWP / Government, changed the Pension to a Benefit a few years back for one simple reason,,,a Benefit can be raised or lowered or even cancelled. These scumbags have no interest in the people they hurt nor care who they drive into poverty. I'm 77 living on my own and hate every one of these stinking b******s!!!!!
If you are widowed and remarry then you are not entitled to your husbands pension or any part of it. However if your husband dies the DWP look at your pension and his and pay you the highest of the two. Im widowed and inherited my husbands pension because it was higher than my own.
If you log into Google with “is the state pension a benefit.” you will see that the state pension has always been classed as a benefit and not a pension.
Interesting fact..... My husband turned 80 in May and got a nice letter from the pension 'service' informing him of his new, age related bonus payment............. 25p per week!! I don't think either of us has ever felt so insulted, ever.
Yep mine too 😮
Lol, 25p a week ..... you probably couldn't even buy a bag of crisps for that these days!
My wife and myself got our 25p per week each it’s a bit of a joke really so why not give this to our NHS where the combined totals of these over 80s payments could make a meaningful difference
"25p per week", don't spend it all at once 😂. Really, now compare the pension our civil servants and MPs have managed to extort for themselves, to what everyone else gets.
@@barrywest2170because the NHS would squander it as it does with billions every year
It's outrageous that the government makes a nice profit out of out of the death of either partner.its morally wrong also
What profit tell me ?
@@bertiewooster3326 the profit of not paying out the pension anymore yet it was always paid in on time.
@@JaneCalladine Jane here is a prediction for ..at the next budget or later labour will raise the free prescription from age 60 to 65.In later years they will reduce the state pension if you
have another private or Government pension this is on the cards .just wait it's coming!
@@bertiewooster3326 oh I am quite sure you re correct. Pensioners in general won't riot or cause too much hassle as they well know. They just keep degrading us and treating us as scroungers when we actually helped build this country. Good luck with the current youth, they won't work and pay taxes so easily, the object now to funding pensioners. Good job we didn't.
What about pensioners who live many years drawing more than they contributed
You’ve paid tax all your life whilst accruing a pension. Then when you’ve qualified for a state pension, you have to pay more tax over a certain amount if added to your personal pension!
What a load of bollox!
Yep. Since triple lock rise I’m £37 a month worse off
My wife passed away 17 January 2018, it took the DWP 6 years for them to work out that I was entitled to part of her state pension and sent me a cheque for the back pension i was entitled to and increased my pension accordingly, they informed HMRC who promptly informed me that I had to pay tax on the back payment from the DWP, if they employed people who were capable of doing the job they are payed to do, they could half the people employed by the DWP and HMRC save a fortune and not cause stress to millions of people
That was really interesting because someone told me she had inherited her husband state pension and I was sceptical cos I'd never heard it before. Thank you for explaining so well.
I was one of the women who had to wait to 66yrs. My husband died at age 55yrs. I read the website and realised I could claim his pension! He had to have died before a certain date and not retired until after his death, if that makes sense! However, it took 3 phone calls before it was agreed I could claim. The first two calls they argued it, the third call was a lovely man and was so helpful. I got £32 per week. Not to be sneezed at!
They want to tax your welfare benefit aka state pension if you have worked 35 years and qualify for it, bit if you have never worked and claim welfare benefit amounting to 20 to 80k a year it will not be taxed, both are welfare benefits and both are income but only one is getting taxed this is wrong is it not??
Yes if that’s happening, but as ever good luck in trying to remove or reduce benefits to the unemployed / welfare claimants. Does not which political party tried this the press would whip up a storm about it
My late husband's State pension favoured me with a GRB of .83p per week: big deal.
I remember when my wife died i phoned the pension people and asked for her pension .she had paid in for 30 years. . what i recieved wouldnt buy me a burger and fries
When my wife died i received 12 monthly payments of about £100,they took the rest!
Same here when my husband passed. Disgusting!
I got nothing when my wife died
@@davidlucas6701😅
Yea it's bad, I know that if I die then my wife will get a good 30 or 35 % of my pension every year, plus a one off payment of 3 times my salary, but that's only because I'm in the public sector, but that's still 60% gone, but at least it's guaranteed she will get that each year
They DEMANDED I refund 5 days back as they hadn’t been able to stop the payment quick enough after his death!
Despite having 45 years contributions when I retired in 2017 at aged 62, I discovered tha I didnt get the full State Pension when I was 66 (allowing for adjustment to take account of periods when I was "contracted out". Nowhere in the Gov.UK website does it mention you have to continue paying NI contributions until State Pension Age, regardless of the fact your contribution record is equal to or exceeds the maximum qualifying years.
It’s overly complicated and unfortunately a lot of people have suffered.
Can you explain ? I’m worried now
@@petersavage4207 . It seems that, if you choose to retire before your state pension age, to ensure you get the full pension you must continue to pay NI contributions up to your state pension age. I only discovered this when I received confirmation of the amount, highlighting the gaps in my NI record from aged 62 to 66. I had the opportunity to pay for the 4 missed years, totalling approx' £4,000 but chose not to as I had fulfilled the requirement for "qualifying" years. DWP had no answer for this and suggested that I appeal but was told "any appeal would likely fail"😔.
This is shocking!!
@@carlrobertsonmoney. I could understand if the Gov.uk website made the position clear but it doesn't - this is what annoys me.
I researched the “benefit” reason and this is what I found. The State Pension when it started was to provide approximately two years worth of pension as it was assumed at the time that most people only lived until 67. The National Insurance that you pay in provides for Health Services, Sick Benefit whilst working etc and the actual contribution to Pension was roughly 2%. It was therefore classed as a benefit and continues to be so. If the government had set aside the 2% contributions of a very much smaller workforce (bearing in mind that women did not always work) the State Pension as we know it would have ended many years ago or we still only be entitled to 2 years worth. I was always under the impression that I had paid enough working 50 years but we all start off earning a little and maybe if you are lucky and a professional pay a bit more in later only to usually reduce your hours/pay in the latter years. If you live to 98 like my mum in law who receives full pension after 50 years of work there is no possible way she would have contributed enough. Yes it galls but if you had paid into a private pension it would all be spent by the time you are roughly 75-80 unless of course you are a public servant or in the medical profession.
That's incorrect, the data has almost certainly been manipulated. The State Pension introduction, in 1948, was based on longevity of 3 score years and 10, which is 70, in case you didn't know and it was thought that most people would average out 5 years after retirement at 65, for men, 60 for Women, at that time. The pension age has been increased and will keep increasing due to longevity reaching 80 for many. For men it's generally been improving over the years, largely due to drugs that are helping people live longer.
If the NHS, were to collapse, not unthinkable today, this would change dramatically and longevity would fall significantly. By way of a strange analogy, it is the very expansion of the NHS, the new treatments, that is helping drive the longevity upwards, but it has at least flattened out. By increasing spending on the NHS, state pension commitments have risen alongside due to life expectancy increasing.
With no NHS dentist in our area and the only people getting free treatment are the migrants, due to the way the NHS is funded. Top that with the difficulty of getting GP appointments or an ambulance in an emergency and you're almost certainly going to die a lot sooner than you would have done, without the population movement to this country we've seen over the last 27 years.
So, a wife can inherited her husband’s pension but not the other way round? So much for equality!
I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime. $500/month invested from 25 - 65 at 9% is $2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?
I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
Generally speaking, a good number of people discredit the effectiveness of financial advisor in planning for retirement, For over the past 5years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
@@ThomasChai05Could you possibly recommend a CFA you've consulted with?
*Izella Annette Anderson* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Why then why do people on other Benifits not have to pay tax
Actually they can do, but most benefits will be under the tax threshold. However, employment and support allowance (ESA) and jobseeker's allowance (JSA) can be taxable if they are paid based on National Insurance contributions you have made, or can be non-taxable if they are instead means-tested (based on your financial situation). Currently State Pension is below the tax threshold but uou would pay tax if you have other pensions or income.
or inherit your wife's pension if applicable
The State Pension is an investment on the part of the individual, it is not a benefit. A benefit can be withdrawn. Is this why the government label it a benefit. The pension system should have been organised like a private pension but sadly politicians are ignorant of the financial world and how it works.
I find it unfair I am 71 years old. I am under the old pension rule. people under the new rule get a lot more pension than me. why/
Here is the governments response to that petition.parliament.uk/petitions/632855?reveal_response=yes
I remember the ridiculous days of equality where you couldn’t advertise for a pig man 😂😂😂. Now when it suits the government they can have a grossly unequal pension system 😊
Because they had to wait up to 6 years longer for their pensions
Same here, 71 in April but I did get a full pension probably due to having 3 children spread out in years and work before and after and in between. I have the full pension although there was briefly some additional pension due to working when that was possible. Thats disappeared now though.
I don't understand anything about it how it all works. I've never done the reduced N I contribution, always the full one.
@@lindabridges9483 I had to wait xtra years for my pension and I do not think it fair that we had to accept the old pension rate whilst others who also waited fell into the new system. It stinks!!!!!!!!!!!!!!!!!!!!!
It's not a benefit, unless you're a workshy shyster on benefits. State pensioners have paid into the system for 50+years.
There is no “Pension Pot’ your pension is paid by people working today vis NI contributions. There’s about a 6 week overlap. In theory if we stopped paying NI contributions the money for state pensions would run out in around 6 weeks. It’s a rolling process.
Thank you for explaining Pension Service, it has answered a good question.
I am a widow . But no one will tell actually how much widows pension I get. They just say it’s lumped in with my pension.
My husband left a small private pension it has gradually all disappeared to HMRC
Surely only at a rate of 20% income tax? Tax free going in to help it grow tax paid on withdrawal if it takes you over personal tax allowances
My state pension by no means enormous just over the tax threshold. Husband passed 5 years ago and the small amount left to me eroded each year due to freezing tax thresholds. Its now worth nearly nothing.
I have been a widow for 8 years I have written three times and emailed the pension service , to ask if I am entitled to some of my husbands pension . To date there has been no reply .
Shocking service!
I've written 8 times, never get a reply.
This stinks to high heaven. Thanks to Steven Webb, and he got knighted, how dare they , absolutely beyond disgusting!
The state pension is a "!very expensive benefit" except for the fact the it's much better in 15 other European countries including R of Ireland. Presumably they'll lose their state pension service before we do? Not a chance, the Uk will be the first to ditch it.
It is not a benefit 😡😡😡
@@englishterry8084
But it is being called that in places, it looks like it is becoming means tested in the future, which is abominable when we have paid towards it for decades.
@@lsmith992 Certain politicians and some of the corrupt media started calling it a benefit , we worked for what we receive unlike those that have contributed sfa and will still get it … If labour get into power they may remove free bus passes for pensioners as talked about by starmer …..
@@englishterry8084 so exactly when did Starmer state this? If we’re going to loose Pension it will be under a Tory/Reform type government. It’s already been put forward last year by the Tufton street Tory think tanks.
In reality there should be a tiered pension scheme to reflect the level of N.I. Contributions the person has made.
If you have had credits applied either due to unemployment, children , ill health etc then you get a basic entitlement. Once you are paying above this then you should be entitled to an enhanced pension. Just look at the level of deductions for both employee and employer if the worker is earning 60, 70, 80K plus a year
My husband died at age 61, so was not receiving state pension,where did all the money go that he had paid in?
Thank you, that was very well explained and covered a lot of complex issues.
My husband died before being old enough to claim his pension. I retired 6 years after he died and received a 60% share of his pension excluding any contracted out years, I don't know if I got 60% of his additional pension as I do not recall it being mentioned. Is it too late to ask? I have been getting my pension for 16 and a half years under the old scheme.
Clear as mud!
The state pension is included in the billions shown in government Welfare Benefits. Your NI contributions disappear into Treasury income, there is no pension fund. This irritates young people whose taxes pay for old folks pensions and annoys old people to see them described as Welfare Benefit Recipients.
Gordon Brown (recently elevated to some medieval high office) sold off British gold reserves to the Chinese at the bottom of the market, then taxed dividends on private pension funds. Stuffed any decent increase in my work pension.
At least Tony Blair is still around to save us as the ‘Middle East Peace Envoy.’
Hallelujah.
Because he doesn't understand.
Can you explain the Cope , my state pension will be reduced due to the COPE , can you explain to me how this works , thanks
It's a tax or should be. It's been taxed on earnings.
Totally agree 're not a benefit it is earned with our work earnings over time
what about husband's claiming wife's state pension if she goes first ???
It’s basically the same process.
What about when your wife dies you get put on widows pension for 18 months only now
Shock horror - I am a married woman pensioner and my state pension is considerably more than my husbands, due to SERPs. Can he claim on an equal basis?
I'm now retired, and for years was contracted out. But, as an offset, I was earning good wages after I left my contracted out employment, so was contributing an awful lot to SERPS/S2P. I receive the full 'new' state pension (to the penny). I've tried to contact the DWP to understand how my pension payments are made up, as I understand that there were 'transition' rules in place to ensure the SERPS/S2P contributions were still accounted for. Not a response - I've tried calling when I got no response to the letters I sent, and the person on the end of the phone didn't have a clue what I was talking about. Still waiting. Is there any chance that you could explain, in some detail, how these transitional arrangements were worked out, please?
Depending on the situation it is called a pension but it can called a Benefit.
If state pension is a "benefit," why is it not on the list of benefits that winter fuel payments can be claimed on?
Interesting information
Thanks John. Hopefully helps a little.
Pension frozen when living abroad, l do not under stand why.some countries do receive and others do not.🤔
Think it’s reciprocal arrangements. If, as offered to me I had gone to
Canada after retirement my Crown pension would be frozen at the rate then, 39 years ago. Same with state pension, 19 years ago. At 84 years of age, paid taxes since age 16. Paid £2 a week and deducted shilling income tax and shilling union dues, I’m better off than any time in my life.
Britain is fkd, no doubt about it - but it’s probably better here than any other country. (Apart from the weather).
My husband has passed away càn i claim his pension
Is it a good idea to "buy back" your years or put that money in a SIPP?
you should have made it clear what the state pension age was/is as the rules on that changed as well. My own chartered financial planner has been trying to get an answer on this since October last year and the DWP still cannot tell me if my wife will get my pension when I croak. How can you possibly make sensible retirement plans when the pension provider (HMG) cannot provide a simple answer to a very obvious question. The sooner we move to a scheme like the Singapore Central Provident Fund, the better. Current arrangements are a legalised Ponzi scheme.
You’re definitely right about the Ponzi scheme!
I didnt think a partner was entitled to any pension from their spouse if they died as we all have our individual NI contribution records. This surely has to work for the husbands as well if appropriate
I worked most of my adult life between having my children, I EARNED my pension and already paid tax so WHY should I pay MORE tax???
What about inheriting your wife's pension? Is it the same.
I received a small increase due to some of my late wifes contributions. I did not have to claim it but whether its correct Ive no idea!
Ask the 550K frozen state pensioners how they feel
Very interesting ,Thank You for this.
What happens to the wife's state pension when she dies?
Is it possible to cash in a AVC for a lump sum?
Can they possibly pull the wool further over our eyes????
They don’t make it easy. Too many years of too many pension changes.
Old pension,new pensions,new new pensions ,new new new pensions,and so on
We are dealing with thieves! end of! I was given a gov gateway account but with a website with no "log in" box!!! Therefore no access!
Put your savings and pensions in a trust and your property before corporate gov grab it
I guess its called a benefit as in the term of a DB pension whrre the benfit is defined, but its not a state benefit. I suppse ypu could argue the state pension isnt taxed as it will take up all ylur tax free aloowence, then any other income you recieve or earn will be taxed
Interesting that self employed people or people working abroad choose to pay NI a as they want a state pension ?Why would they do that if it can be taken away
I have checked through my government gateway and it shows I am entitled to full state pension, is this totally reliable? also do I have to claim my pension or will it all happen automatically. Thanks just subscribed. I am 66 in Feb
You should get a letter automatically around 2 months before your State Pension is due. This will tell you how to claim.
The whole thing is unsustainable though. It’s a Ponzi scheme. It needs more contributors constantly to finance it. It has to remain a pyramid….well, as people live longer and the birth rate declines, so the pyramid became inverted. One of the reasons for so much migration is to try and maintain a pyramid shape but they’re not really contributing enough. Plenty are also claiming, and costing the Government hence unsustainable Government debt. At some probably in the not too distant future it is going to collapse. Oh they can print money, but that just fuels inflation. Youngsters with any sense are fleeing the country as digital nomads and I can’t blame them.
My husband didn’t get a letter at all. As a result we were unaware that you have to apply at least three months beforehand if you want to receive it at your retirement date. He applied at state pension age and received his first payment three months later however it was backdated. This could be a big problem for anyone wholly dependent on SP so important to diary date the application in case the letter doesn’t arrive.
Also important is to check the small print underneath the huge font sized amount that you are entitled to, unless it has changed since then. It looks like you will get the full pension but, too late, I noticed it said “if you continue to make NI contributions for the next four years”.
Surely, if the State Pension is `means tested` in future and millions have it stopped, then likewise, millions will look to government depts to give them State benefits. So, as far as the Treasury is concerned it is `swings and roundabouts`.
I was opted out and retired in 2010 from work with 35 years NI contributions. I bought 8 extra NI years after 2016 and am now only 90 p short of a full state pension at £220.30, instead of a full state pension of £221.20. Not bad, i will only have to be in receipt of my state pension for 3 years before i get my 8 years voluntary NI contributions back after I take my state pension in Jan 2025. Then i am quids in for the rest of my life. Unlike a waspi woman, who expected to pay years less NI contributions than everybody else but expects a full state pension because they say they were unaware of pension changes affecting them ? I was exactly the same but i made it my business to find out and didn't expect free money, just by moaning about my ignorance ! They deserve nothing extra, it is unfair on everybody else, who has contributed the correct NI contributions.
It’s definitely a good deal to top up your State Pension!
Hi Carl thank you for your informative and helpful video. I got a wee bit lost though. Question, my civil partner receives a full state pension. I am only in my 50's. If he died tomorrow would I inherit his pension, but only when I am pensionable age, or would I inherit his state pension before then? Thank you.
Thank you for the feedback. Much appreciated. You may be entitled to some of his pension but only when you reach your own State Pension age. You will lose any benefits if you were to enter a new civil partnership before then.
@@carlrobertsonmoney Thank you for reply.
If there calling ur state pension a benifit why are we getting taxed on it as u don’t get taxed on benifits
The reason they claim "there is no pension pot" is because successive governments have raided the supposedly ring-fenced NI pot and used it for other purposes, it is in fact still considerably in credit - a fact that was verified in a FOI request by WASPI campaigners. The government should return what has been taken to pay for what it was originally intended for and for what we've all niavely made our NI contributions throughout our working lives.
They did the same with the mine workers pension fund, the government “ borrowed from the pot” but have never paid it back.
I wrote to them, months afterwards no reply !
Does this work the other way around as well ? Can my husband claim my state pension as I’ve paid in the full amount .
State pension dies with the person that dies.
They remove it and you are put on a single pension until you decide to sell assets and they put you on a very low pension, its called asset, a neither word for TAX .
I am a 74 year old, caring for a 36 year old with Down syndrome. I do not qualify for anything because my pension is classed as a benefit.
Me too. I find the 24/7 care I give my disabled, Alzheimer’s suffering , 90-yr old husband is counted for nothing. It would cost a fortune to pay for what I do as an employee. It has also ruined my life for many years. Pensioners are just cheap labour to our negligent government.
You state that National Insurance contributions are required to earn a State pension. What if you are on.benefits and don't pay NI or very little NI will you not get State pension? What if you are a mother and very little NI or some earning above the Lower earnings limit but below the NI payment threshold. Interesting to know what happens.
Lowest pensions in Europe and its taxed !
It is ridiculous that state pension is called a benefit. However it does mean DWP can snoop on your bank account from jan 25. Just in case you are claiming too much benefit?
Concerns about the number of individuals who passed away before retirement age, particularly those who did not receive a pension due to vaccine-related issues, have been raised. To some who subscribe to conspiracy theories, it might seem as though there is an intentional effort to harm the older population.
I've always thought this pension lark is being somehow "managed".
If you were running a business, after the employees were no longer useful, it would be er...more economical for the business to not have any long term payments to make ....if you get my drift.
A bit like pit ponys ....
If like my wife's. It's nicked all but £1.33 a week of it. New state pension is a double whammy. No pension credit with it. And it's a way to have all her old pension eaten up by the state. Plus if you die before reaching state pension age then it's lost to her or him .
Why do you keep referring to your husband, as thou they will always die before the woman. What if you are the husband is left behind, do they receive the same rules.
It’s basically the same rules. I did the video this way as it’s the question more commonly typed into Google.
I am 64 and still making still paying tax and N I. According to the gateway I should get full pension at 66. Just wondered if I move to Spain when I am 66 will I get full pension in Spain?
Yes you should still receive your State Pension.
But isn't it frozen at the amount at time of leaving ? I.e it won't rise from that time.
@scottwilson9496
I live in Spain recieved UK pension I recieve all increase in pension triple lock etc only thing we don’t get is heating allowance
State pension, as previous comments mention is not a benefit. We have already paid into it during our working lives. If you have a small works pension it is also taxed , simply because the threshholds have been
frozen. The word Free National Health makes me angry. It is not free. The hard working people of this country have paid for it via their taxes and national insurance. We also pay Insurance Premium Tax on our house insurance, pet insurance and car insurance. Plus car road fund tax, vat and duty on petrol. So what the heck has our parliament over the years been doing with our money. Take your state pension when it is due you and do not defer it if at all possible and draw it for as long as possible.
It’s NOT a benefit, it’s an insurance we’ve paid into all our working lives.
Why do you keep
Mentioning ‘husband’ ???
I concur, it should be spouse shouldn't it?
SIMPLE: It goes straight to KIER STARMER.
He, or to be exact his party didn't make the rules. It was your beloved Tories.
Paid tax all my life on my earnings. Am now paying tax on my pension, so I'm paying tax TWICE.
I do not understand
Hi, Im 61 this year and my wife 59, she has been diagnosed with MND and is unlikely to live to her pensionable age. What happens to all of he 35 plus years of contributions? Our retirement plans were based on us both having a pension once we were entitled to claim, this will present a shortfall in what we would have had together as I will npw be running a house on one pension?
Unfortunately you may only be able to claim some of any additional State Pension benefits after you reach State Pension and after your wife’s death. There may be other benefits you can claim like sick pay, carers allowance etc.
Why 'husband' and not spouse/partner? Is it based on sex?
Also what about divorced no remarriage?
Just curious.
I haven’t watched the video or read the comments yet, but Im guessing if the pension has been paid, and you die before the next pension date, DWP are gonna want some of it back!
Yes.
I’ve paid in national insurance for 50 years. My pension is not a benefit it’s a right that’s why I paid in think about it 50 years
Sorry but I fell asleep after watching 3 minutes, in fairness I am almost age 82 and have lost my free TV licence along with the winter fuel cash so I feel the less I know the better I will feel. As regards the assisted dying saga it will probably be compulsory soon so there'll be no need for pensions will there Kier old chap.
The new state pension will make me poorer compared to pensioners in there 70s and 80s. I have to work an extra 7 years before receiving my pension. I also have worked full time all my life and on the new state pension at today’s rate. I am only entitled to £900 a month.
My mum on her old state pension, who worked very little, gets part of my dad’s state pension and gets £1300 a month and retired at 60.
The new state pension is a disgrace to the working person of today. How do they expect people to live on £900 a month.
What happens to your wifes state pension on her death ???
U didn't mention someone who is of state pension age but the wife is not , does she get any of his pension?? The husband was on a pension before 2016...
Your video has not explained this.. so this video is of no use to us...
Pension is NOT NOT a benefit...its my hard work that paid into it...
It’s not a benefit, it’s our monies, paid in by us and our employers,
I’m staying alive to get my moneys worth so😈
me too
It's a good incentive :D
That big microphone object is distracting me
Sorry John. I am looking at other microphones. Any recommendations people?
I am 65 years old and paid 45 years of N.I. mostly on the highest band BUT I am told because I retired without any claims on benefits at 60 they tell me that I will have to pay another 4 years £3328 to qualify for my Full State pension
I do wonder why our pensions are the lowest in a Europe?
I took a works pension to add to the state one .now they tax my work,s pension .they now will be stopping winter fuel payments even though i. On benifit,s .make,s no different,s i hoped out of serp.s ( on legal advice) for 3 years hopped back in making payment,s now i find i.m paying back i call to see how long the cov would be taking those payments and was told till i died .thank you gov .any way we try and make life alittle easy the gov ponce on .. thank a bunch you m.p.s bet your life is rosy back hander,s ( brown envolope,s remember those scandels ) stte pension is an entitlement which we paid into for 40+ year,s and along they ( m.p. ,s )change the right,s of pensioners like switching on a light it make,s me sick .dad told me liebour coners will blame each other and just lie to the public but who as to pay the population we need rp b4 this country is done for
Not a benefit... Paid for over that last 50 years
The state pension is not a benefit its what we worked hard for
It goes to his first wife.