Does anyone know anything about the new state pension changes?

I was born in February 1953, and according to the .gov.uk website, where I found a 'state pension calculator', I will become eligible for my state pension of £110 at the age of 62 years 9 months. My friend, who is one month younger than me, will qualify 4 months after me! No rhyme or reason!

It really is disgraceful and disrespectful the way this government treat us.
They keep moving the goalposts in relation to the State Pension Law so we have to work/wait longer to receive what is rightfully ours.

The fact that MP's, Judges and Civil Servants, who are within 10 years of normal retirement age, have been given transitional protection only rubs salt in the wounds.

Of course we are not the only ones affected by the discriminatory changes.

Our children and grandchildren will have little chance of gaining employment if we are being forced to work until we drop.

Please sign and share this petition is you disapprove of these changes.

thanks
Anne

you.38degrees.org.uk/p/statepensionlaw

I agree Lyndy about feeling healthier in retirement. Having the time to get more exercise, and the reduction from high stress levels to very low stress levels have been the main benefit for me.
I think there will be an increase in chronic illness if people are forced to work into their late 60's.

I was lucky to be in the group where it changed from 40 qualifying years to 30 so I am now retired and in receipt of a full pension without the SERPS. It doesn't seem fair that people now have to wait so much longer. The raised amount of pension doesn't compensate for how tired we feel once in our 60s. My blood pressure has dropped considerably since retiring, so poor but healthier!

This has all just been discussed on Money Box Live
www.bbc.co.uk/programmes/b03lpjxy

It did say that if you had contracted out of the second state pension, you wouldn't get the full single-tier pension, but there was no reference to people with private pensions being penalised.

The people answering the questions were described by Paul Lewis, the presenter, as a 'Dream Team' and they certainly sounded very knowledgeable as they answered listeners' questions.
They all agreed though that it is a complicated mess, and there will definitely be some winners and some losers.

I'm not surprised people have no idea what is what. I found that fact because I searched for what Invictus was wondering, but I couldn't explain anything else about it.

Thank you Elegran.
It certainly looks very complicated

Invictus Maybe they get a rude response or no response if they shout while they are asking.

Reading the Single-Tier State Pension Fact sheet it sounds to me as though you may get less if you have been in a contracted-out scheme.

It says "If you have previously been contracted out of the additional State Pension, a deduction will be applied when we calculate your foundation amount. This reflects the fact that, whilst you were contracted out, you paid lower National Insurance contributions and your employer received a National Insurance rebate to fund your workplace pension. Therefore, you could have 35 qualifying years and not receive £144 per week.

The deduction is broadly equivalent in value to the workplace pension the rebate funded. This is consistent with the rules of the existing pension system. "

Invictus Can you post a link to somewhere you have seen this? It's news to me.

Well I hope a few people on this site START TO TAKE A LITTLE BIT OF NOTICE of what I have posted on here because IF it doesn't affect them yet, immediately then it most certainly IS GOING TO AFFECT THEM AT SOME TIME IN THE NEAR FUTURE because the current Government who are making these changes and ALL MPs who have voted them through to make them law are keeping quiet about the proposals because people are under the mis-apprehension that as from 2017 or thereabouts, everyone who reaches State Retirement Age is going to receive their Pension at the Enhanced Rate which IS NOT TRUE, Please see my posting above.The Government are DELIBERATELY MISLEADING people on this issue - prior to the next General Election - but ALL MPs KNOW this.

That wouldn't surprise me. Makes you just think oh bu--er it why bother

I hope I can post some useful info here just in case people are NOT aware of this but a FACT that the Government have NOT mentioned and ARE KEEPING QUIET ABOUT is that anyone who is in receipt of a Private Pension or is due to receive a Private Pension at the time he or she is due to receive or qualify for the New State Pension at the ENHANCED RATE of 140 pounds per week will automatically DISQUALIFY THEMSELVES from receiving it. For example if you have been frugal and paid into a Company Pension for a number of years or otherwise saved into a Private Pension You can check with your respective MPs if you wish BUT I guarantee that YOU will NOT get an honest or direct response from them, (people I know who have made enquiries have ALL received rude responses or NO responses.

Thanks Kiora I will check out the rules but know someone in similar circumstances who left her job voluntarily through stress and was able to sign on straightaway. Sometimes the rules are hard to understand. My actual birthday is 23 December 1953 so still have 1 week in my fifties!! When I last checked on the gov. website my retirement date was February 2019 so quite a difference for us two - can understand how your sister is furious.

Please sort out your expert soon Gransnet - sounds like we need some help!

I know how you feel. Be very careful because I'm not sure about the rules about job seekers if you leave a job voluntarily there may be a longer waiting period than if you were sacked or made redundant. I'm sure one of the gransnetters will be able to advise you. I'm 60 and the last information I got from the DWP was that I could retire at 63 in march 2016 so I would check that out. Can you reduce your hours or change your shifts. I am currently signed off sick for the first time in my life. I'm sure that work, babysitting duties, looking after elderly relatives along with housework has taken its toll. All of this would have been manageable not so long ago but now exhausts me. My sister was born in may 54 and now has to work till 65 or 66 I can't remember but I do know she's furious and I don't blame her.

I am leaving my job in a supermarket soon as I can no longer physically do the very early starts they need me to do (5am). I intend to sign on for jobseekers allowance for 6 months which I believe is approx. £72 a week. I have paid 33 years National Insurance contributions, originally hoped to get my state pension at 60, which then changed to 63 and is now 65+. I am so fed up with missing out - not just the pension but also the bus pass etc. I am 60 by the way.

Would love to hear more from an expert Gransnet.

Actually Kiora I don't really know. I am a TA in special needs education. I think the 'recommended' age is 65, but most seem to retire around 60 purely because of the physical demands of the job.
But, if they are happy to keep me on, I will be happy to stay, although my body may say otherwise
Our reading support lady recently 'retired' at the grand old age of 86, but she was a volunteer, so different situation altogether.
I would certainly be interested to find out more, and think I may ask a few questions at school, see what the options are.
And, obviously, as a single lady, the longer I can keep going, the better for me financially.
Sounds like a good idea Cari, would be very helpful to a lot of us I think.

Having been born on 29th April 1953, I had always planned to retire when I reached 60. Under the old rules, I could've done this but now I have to work until I'm 63 and 2 months. The problem is, I still don't know the amount of state pension I will actually receive as I'm sure I fall between the 'goal posts'. Can anyone advise? Thanks.

I used the government website to get a personal pension statement.
You need to register and they send you a code through the post. You then log on and all the details are there.

Sounds good Cari - the information out there is certainly very confusing.

Gratefulgran I thought the law had been changed to make age discrimination illegal. So you can't be let go just because of your age. I'm due to retire in 2016 just before my 63rd birthday. I may have to work longer simply because managing on less money won't be easy. The more I try to find out the less I know. It's a minefield of confusion.

Couldn't agree more Maggie!
I too have had 6 years added on, which means I've got another 12 years to go, not 6.
My problem is going to be whether I can continue in my present job for that long, or even if I will be allowed to!
Got a sneaky suspicion that I may be required to 'go' at 60 anyway (work in a school), so what am I supposed to do then?
The job-market isn't really geared-up for finding positions for (nearly) pensioners, and many places wouldn't entertain the idea anyway, knowing that you are just marking time until you can collect your pension.
It does worry me at times, particularly as there is only me, so not like I can sit back and relax(?) while a partner soldiers on.
The only saving grace, I suppose, is that, as I am employed by the local County Council, I also have a pension running with them, which costs me an arm and a leg each month, but will help to soften the blow when the time comes....I hope!

Exactly, Mishap. So many of us who thought we could retire at 60 have been caught in the pensions trap and had 6 (in my case) years added to our working life.

I fail to see how the sums add up. I would be very happy to step aside from my job in 13 months time when I'm 60 if I could access my pension. By then I'll have 40 years contributions including my 7 years "home responsibility" contributions, as they were called.

Surely if the job were then filled by a person supporting a family and currently receiving much more than the state pension in benefits, this would be a good move all round? Am I missing something?

A trip to the CAB might be in order. How people are supposed to make sensible plans for their retirement when the rules keep changing and are so hard to work out I do not know!

From the Gov.UK website:

"Those with less than 35 qualifying years but more than the minimum qualifying period will receive a proportionally smaller single-tier amount."

£94 does seem to be a substantial reduction from £146, though, as you'll have paid in for 32 years if you work that long.