UK pensions lowest in developed world!

I don't want to be unkind newnanny but just how judgemental do you want to sound? "I know not everyone is organised or sensible". How can you say that about someone who has had to be organised and sensible just to get by in the hope of keeping a roof over their families heads and food on the table and therefore could not afford to pay into a pension if, as others have said there was one on offer.

The best things in life are free, apparently, Chewbacca just as well, really.

There are also pension credits for people who have had children. In the past women got pension credits for 16 years and now it is 12 years so even those on low income or who stayed at home and did not go out to work should have some pension credits. Anyone who claimed child benefit was automatically given these credits. Stakeholder pensions are for those that do not have an occupational pension scheme and can be set up on the internet with a direct debit. I would not be at all surprised if those who are 30 years old now did not get to claim a state pension until they were 72+ years old.

Agreed MissA. I was never in any job where a pension was available for me to contribute to unfortunately and it was too late for me to join the workplace pension when my employers joined the scheme last year. I thought that I'd at least have SERPS to boost my basic state pension but, apparently that's not going to happen now either. But I don't begrudge those who were lucky enough to have a work place pension to contribute to and draw on in retirement; we all do the best we can, with what we have, at the time. Good luck to them.

Its not always to do with being organised and sensible.

I don't mean to be judgmental and I know not everyone is organised or sensible. I think schools should teach children to manage their money as not children all have parents who will teach them. I think it is really important that young people start paying in their pension early, when they get their first job. I have told my children to pay it right from the start, always pay in additional voluntary contributions and they will not miss what they have never had to spend. I also urged them to pay a lot more when they were single with no children to have to worry about as later they may not be able to afford as much. I think the government is crazy to allow people to withdraw their pensions as when these people have nothing they will need benefits to keep them afloat. Gillybob did you not seek advice from independent financial adviser? Sometimes when you are heavily emotionally involved it is harder to see clearly an independent adviser should have warned you not to risk your pension whatever the reasons/benefits to others. I have also heard of older people drawing out pension and giving it to their children.

Ah the arrogance of those who 'contributed to a pension'. They see themselves of sensible while those who, for whatever reason, never earning enough and therefore either contributing very little - possibly to a poor scheme -or, sadly, never getting to a point where they could contribute anything at all.

Keep polishing your halos ladies (I am sure you see yourselves as ladies) and telling yourself how sensible you are while completely forgetting how lucky you have also been - often because of the undervalued and underpaid.

When we started working in the 70s, part time workers were not allowed to join occupational pension schemes.

Think that's the plan gillybob. I can't help but wonder how insisting that everyone works until they're 68 is going to work for those who do heavy, physical and manual jobs. How will a roofer; nurse or builder still be able to physically do there jobs when they're almost 70? And a younger generation who will probably be still working at 70+?

I will have paid 52 years worth of NI before I can get a state pension . How is that fair? Or are they hoping we will drop dead before we get anything?

I dont get the full pension either,and have never signed on and had stamp paid for me.But did work full time before i had the children and then done part time work.But do get by as have hubby and he has a private pension.

Yes, you need 35 years for the full pension, nothing if you have less than 10 years and a reduced amount in between.

Well, I hope this thread doesn't end up elsewhere!

I thought with new state pension you only need 35 qualifying years. You must be born after 1951 (men) 1953 (women), but still have to wait for pension age to claim. I might join you on tobacco run MissA.

my mum warned me about people like you. I'm easily influenced, me.

Nah.... that’s not going to be enough to retire on MissAdventure .
If I’m going to be a criminal I want to make it worth it !

Cor! You aim high. I was thinking more of a few tobacco runs over to France!

I know just how your DH must be feeling gillybob. I too contributed to SERPS for mnay years. Nowhere to be seen now so that was a waste of money.

I was thinking maybe pulling off a massive fraud.... there’s plenty seem to get away with it

Thanks gilly I haven't decided what crime i'll commit yet. I need to see a crime advisor I think.

I’ll be your “look out” missadventure

My DH had 49 years but was robbed by SERPS contributions that have been stolen!

I shall have to turn to a life of crime, I think.

The state pension of £159.55 is only payable if you have a full 46 years contributions a reduction is made for any missing years

How are these pensions funded in other countries?
I would like to know a lot more before I could judge.

In Australia the state pension is means-tested so if your assets or income are above a certain amount, it reduces pro rata until at a certain level you get nothing.
However, for those with no other income and no assets, the pension rate would seem to be generous by UK standards.