What do you hope for in the budget?

I do object to misrepresentation of the facts, and the implication that there is an 'I'm alright Jack' attitude amongst those who are on, or who will get the new pension.

That's my feeling too.

I’m the same as you growstuff.

I had to work 6 years longer than expected before I received my state pension. I had 41 years of NI contributions but, because of some years being contracted out, I don’t get the full pension.

It really annoys me when the full state pension amount is quoted - many of us don’t get that amount!

Yes, we know. But we are not 'lucky'. We pay for our pensions into a different system from the one in Australia.

You are lucky in the UK. We don’t get any state pension whatsoever even though we both worked in the public service sector and paid all taxes etc. It is means tested here so if you don’t work or work at a low paid job you will get a full pension.

growstuff

Allira

Were you contracted out?
I was for a number of years which reduces my State Pension.

Yes, I was. Under the old rules people weren't penalised for those years. That's why very few people actually receive the full new state pension even if they've paid NI all their working lives.

This is another reason why the notion that people on the old pension are £200 a month worse off is nonsense.

I was also contracted out, and on top of the 47 years of NI I paid, plus the extra six years I had to work and pay associated tax, I then had to pay thousands to make up the pension to full. That was a gamble on living long enough to break even, as I can't leave the money to my husband if I don't.

The 'extra' £200 a month I will get when the time comes takes account of all of that, and it will be a long time before I break even. If I hadn't been able to pay the contributions for the contracted out years, I would also have a significantly lower 'new' pension, and there are no SERPs payments on the new pension, unlike on the old.

I don't want to see those on lower pensions going cold - of course I don't - and I am in full support of those near the PC threshold getting the WFP, but I do object to misrepresentation of the facts, and the implication that there is an 'I'm alright Jack' attitude amongst those who are on, or who will get the new pension.

In the three months to September 2024, there were approximately 841,000 job vacancies in the UK, the fewest number of vacancies since May 2021.

There were 1.79 million claimants on Jobseekers' Allowance in August 2024

I realise that job seekers would not always match the criteria required for the job vacancies but it doesn't seem to make sense to pay people who want to work an allowance, while at the same time making people work for years longer before they can retire and receive their pension.

Allira

Were you contracted out?
I was for a number of years which reduces my State Pension.

Yes, I was. Under the old rules people weren't penalised for those years. That's why very few people actually receive the full new state pension even if they've paid NI all their working lives.

Were you contracted out?
I was for a number of years which reduces my State Pension.

Typo ... many not money

Allira

growstuff

I didn't start receiving SP until 2021, when I was 66 and I don't receive the full amount, despite 47 years of contributions.

Why? I thought you needed 35 years of contributions? It doesn't seem right.
Can you enquire about that? The DWP is not infallible although they are very slow.

It's right. With the new state pension, people are penalised for any opted out years. I bought back as money years as I could, but I could never reach the maximum.

I believe the full old state pension is is £169.50pw, which is £8,814pa. I would have been eligible for the full amount under the old rules.

£8.814 x 6 = £52,884

growstuff

I didn't start receiving SP until 2021, when I was 66 and I don't receive the full amount, despite 47 years of contributions.

Why? I thought you needed 35 years of contributions? It doesn't seem right.
Can you enquire about that? The DWP is not infallible although they are very slow.

I didn't start receiving SP until 2021, when I was 66 and I don't receive the full amount, despite 47 years of contributions.

Allira

^by 2020^
Not in 2020

All's well that ends well, you do get nearly 30% more now.

No, I don't.

There is consensus between the parties regarding pension age rises, it’s not a political football. A brief history from the Commons Library:
The Pensions Act 1995 included provision to increase the SPA for women from 60 to 65 in stages between April 2010 and 2020, to bring it into line with that for men.
The Pensions Act 2007 made provision to increase the SPA from 65 to 68 in stages between 2024 and 2046.
The Pensions Act 2011 brought forward the completion of the increase in women’s SPA to 65 to November 2018, and the increase to 66 for both men and women to October 2020.
Section 26 of the Pensions Act 2014 brought forward the increase in the SPA for men and women to 67 to between 2026 and 2028.

The Pensions Act 2011 accelerated the increase in state pension age:

www.legislation.gov.uk/ukpga/2011/19/notes/division/3#:~:text=The%20Act%20amends%20the%20timetable,reach%2066%20by%20October%202020.

There were also some other changes.

by 2020
Not in 2020

All's well that ends well, you do get nearly 30% more now.

Allira

The Pensions Act 2007:

▪︎ Raising the pension age for women to 65 by 2020.
▪︎ Raising the pension age for both women and men from 65
to 68 between 2024 and 2046.

It was brought forward.

Who was in power in 2007? 🤔

Doodledog

growstuff

Incidentally, why didn't people make a fuss in 2011? I remember having a big moan, but nobody seemed to be listening.

Who was in power in 2011?

Oh.

Well, it wasn't Labour.

I remember finding out that my state pension age had been put back by another year, but it was somewhat mitigated by finding out that my pension would increase. The headlines were all about the increase. Then I read the small print and realised that I'd lose the small amount of SERPs I'd accrued and that I'd be penalised for having opted out. I also realised that I'd never be eligible for Pension Credit. I wouldn't have received Widow's Pension anyway. I wasn't credited with HRP because I was working, so I wouldn't ever be eligible for a full state pension, despite having many more years over the minimum. I just huffed and puffed and wondered who's been responsible for gifting me loads of short straws.

The Pensions Act 2007:

▪︎ Raising the pension age for women to 65 by 2020.
▪︎ Raising the pension age for both women and men from 65
to 68 between 2024 and 2046.

growstuff

Incidentally, why didn't people make a fuss in 2011? I remember having a big moan, but nobody seemed to be listening.

Who was in power in 2011?

Oh.

Allira

Oh, I'm not bitter as you call it.

It's just another inequality in this unequal society of ours.
Rather shows successive governments couldn't organise a feast of pigeons in a cornfield without messing it up.

I love your more polite but equally accurate version of the organise a p* up in a brewery.
👏👏👏

Oh, I'm not bitter as you call it.

It's just another inequality in this unequal society of ours.
Rather shows successive governments couldn't organise a feast of pigeons in a cornfield without messing it up.

Incidentally, why didn't people make a fuss in 2011? I remember having a big moan, but nobody seemed to be listening.