state pension

2 Mar

london 7.4C cloudy/rain wednesday 2016

When can u get the state pension?

men; born before december 6, 1953; 65

women; born before april 5, 1950; 60

women; born between april 5,1950 and december 6,1953: between 60 and 65

both; born between december 7,1953 and september 6,1954: between 65 and 66

both; born between september 7,1954 and april 6,1960: 66

both; born between april 6, 1960 and march 6,1961: between 66 and 67

both; born between march 6.1961 and aprl 5,1977: 67

both; born between april 6.1977 and april 5 1978: between 67 and 68

both; born after april 5. 1978: 68

the new state pension was introduced on april 6, those who qualified before this date will earn a basic minimum of £119.30 a week. those who reach the pensionable age after this date will receive a starting amount of £155.65

this the from the times 

but it is not true that u get the £155.65. and it does not appear to be the minimum, either. i mean how long have u to contribute to the national insurance to be get that minimum?

it must be a huge drain on the state finances to pay out all this money. it all comes out of present taxes. so the present working population is paying for it, when their time comes there wont be enough people working to pay their pensions, so it will have to be the age of pension will be extended on and on, and they will hope not many live that long to claim it. haha.

not for the first time that i bless myself for being born pre 1953, we get the best of all worlds. 

added. 4.3.16 i thought i should add this, to remind self employed people to make sure they pay their class 4 contributions. keep paying it so that they have the record of 30 yrs payment. that i think determines  how much u get finally . it is very cheap insurance for a pension. i paid only £75 a year for it. compare to what i pay for one of my private pension funds, £65 a month, for about 15 yrs, where i only got £285 a month pension. £66 a week. with self employment u have to pay class 2 contributions on your income , of about 8% i think. and that is unlimited unlike my time when it is limited to £3000 maximum. and it was tax deductible from the top tax rate. (osbourne is thinking of taking it down to the basic tax rate now ) so that is the downside to it, but hey consider that as a income tax. and a contribution to our nhs. 

added. 7.03am 2.6C sunday 6.3.2016 it looks like the rules have changed so that u have to have minimum of 10yrs national insurance  contributions. before u get something even if it is less.


2 Responses to “state pension”

  1. Sarah M Thursday March 3, 2016 at 10:12 am #

    Yeah they keep moving that goalpost don’t they?

    • alifesgayventure Thursday March 3, 2016 at 10:43 am #

      i think they have to, people are living longer. blame that on medical advances and improved care. and this longer living and subsequent more old people with health problems is affecting the nhs too. it might be the nhs wont be all free, in that some services will be charged. on the other hand, they are giving away free bus and train travel to the over 60s. perhaps it is to make them do less walking and die quicker that way. haha.

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