Pension, triple lock and inflation

Because I only ever paid in the "married women's" contributions, my personal state pension is only £86 per week. Luckily I do have a small NHS pension, but it doesn't mean I am "well off"........ if anything happens to my husband before me, I really am not sure how I would manage.
I admit pensions are not my forte, but I think the government try there hardest to "tie us up in knots" most of the time !!

I’m an NHS pensioner too. The NHS annual pension rise is paid in April, based on changes in retail prices in the twelve months ending 30 September in the previous calendar year. From 2011-12 the Consumer Price Index (CPI) was used to replace the Retail Prices Index (RPI), so it is less advantageous to us NHS pensioners. Losing 5% of your pension for every year you retire before 60 is quite a loss if you consider it over an average life span, so if you can hang on to retire until you are 60 it would be better financially - you definitely wouldn’t be better off retiring early, if you ask your pensions department they will do you a forecast based on the different scenarios.

MaggsMcG

The only women that have been shafted are those born between 1953 and 1955 everyone else knew that the pension age was increasing and if they didn't its no ones fault but their own for not keeping up with the news. My daughter was born in 1979 and she knew. If women want equal pay for equal work its only fair that they have to take the bad with the good. Also people are living a lot longer now so its not fair on the Tax Payers to be paying out Pensions for 25 to 30 years for everyone.

Tell you what, pet: I’ll be content with the equalisation of pension ages when there’s equality in pensions, which means equality in salaries, in childcare and other caring responsibilities, in private pension design, in adjusting for life expectancy and other demographic factors, and so much more.

The pension gap is higher than than the salary gap between men and women, and it’s getting worse rather than better.

Don’t take my word for it; there is lots of acceptance of this, including by the House of Commons, who have produced a briefing paper on the subject commonslibrary.parliament.uk/research-briefings/cbp-9517/

As I understand it, Universal Credit is easy to uprate whenever necessary - this is not the case for pensions and legacy benefits, which is why people like my late husband on legacy disability benefits did not get the £20 per week extra that those on UC got during the pandemic. This is obviously not acceptable - but altering computer systems to make it possible is likely to take longer than the current cost of living crisis.

Sadly, politicians and governments keeping promises is virtually unheard of

Chewbacca

^when I was 16, I was promised a full pension at 60, if I worked and paid full NI, which I did.^
Then, the goalposts moved and I had to wait an extra 6 years. ?
When I finally got it, I was promised the triple lock, and then that stopped this year.
Two promises broken.

Exactly the same for me too Diamond, I'm feeling like I've been well and truly shafted.

Me too ladies, I have no private pension and I have only my stste pension to live on. Its disgraceful I also worked from 15 and took part time jobs when the girls were young but I was shocked to learn at 58 I had to work till 66 not 60 as promised.

And, of course, something that affects all of those over the age of 75.

The abolition of the free TV License.

The concession that the Tories promised to keep. They broke their promise and cancelled it and tried to blame the BBC.?

DiamondLily

And, of course, something that affects all of those over the age of 75.

The abolition of the free TV License.

The concession that the Tories promised to keep. They broke their promise and cancelled it and tried to blame the BBC.?

Sorty, the above should read nearly all of those over aged 75.

Those claiming Pension Crefit can still get it.?

Saetana

As I understand it, Universal Credit is easy to uprate whenever necessary - this is not the case for pensions and legacy benefits, which is why people like my late husband on legacy disability benefits did not get the £20 per week extra that those on UC got during the pandemic. This is obviously not acceptable - but altering computer systems to make it possible is likely to take longer than the current cost of living crisis.

They can, and do update amounts, every April. They process new claims daily, and they pay back pay, where appropriate, to all of the legacy benefits.

This "computer says no" is a handy excuse, but could easily be adjusted.

MaggsMcG

The only women that have been shafted are those born between 1953 and 1955 everyone else knew that the pension age was increasing and if they didn't its no ones fault but their own for not keeping up with the news. My daughter was born in 1979 and she knew. If women want equal pay for equal work its only fair that they have to take the bad with the good. Also people are living a lot longer now so its not fair on the Tax Payers to be paying out Pensions for 25 to 30 years for everyone.

* Life expectancy is going down.
* 1952 baby here, I had to wait 2 and a half years for my SP, so not sure why I'm excluded in your post. But that isn't nearly as bad as it is for my younger siblings
*1995 Budget, The Times had 3 lines on SPA with the wrong preposition, which said this would happen in 2020 not by 2020
* I too was working ridiculous hours in 1995, working full-time in a stressful job and bringing up 2 kids as a single parent
* In mid-90s, you would be sent a letter if your Family Allowance was going up £1. Why would you be expected to check nothing was happening to a state pension that hadn't changed since since WW2?

Lastly victim-blaming is very unattractive.

The latest pearl of wisdom to emanate from the dear leader’s lips

“Work your way out of the cost of living crises”