State Pension Awareness.

[TeeDee]

I've thought twice about posting this and have relented. I'm just doing some research.

I wonder if people would mind ( without looking it up ) how much they think the CURRENT entitlement for State pension is please.

So if you could indicate using the Poll what you believe the FULL BASIC STATE PENSION is PER WEEK. Closest figure.

( Remember - No cheating and Looking it up please )

 

[TeeDee]

Only read the following after taking the Poll please.

The basic State Pension

How to claim the basic State Pension and how it's calculated - for men born before 6 April 1951 and women born before 6 April 1953.

www.gov.uk

These Countries Have The Most Generous Pensions

Have a look at the average pension in Europe by country. Compare it with pension data from other countries of the world.

www.weforum.org

 

[TeeDee]

Interesting results so far - Thank You Keep Them Coming.

 

[TeeDee]

So , 15 entries so far.

Were some of you surprised ? Shocked ? Dismayed ?

Did you look at the other countries and see the ones that achieve more in pension payments.

 

[Robbi]

i wonder what the difference is if you were born before 6th April 1961 ?

 

[santaman2000]

Much lower than I would have expected. Much lower than my own and mine was reduced because I began drawing it 4 & 1/2 years before my full pension date.

 

[demographic]

Not that surprised although I didn't know the actual figure I just instinctively assumed it would have been at the lower end of the spectrum.
Saddened would have been a more apt description.

 

[TeeDee]

Its when you look at this graph and seen the disparity.

Its when you play the mental game of working out Where you think your Countries benefits should fit in relationship with others.

Croatia rocks in at the very top with 129 % .

 

[subzeer0]

i have my .gov report here i have to claim in March to get it at June next year

£175.20 per week

 

[TeeDee]

i have my .gov report here i have to claim in March to get it at June next year

Did you anticipate it being that figure or were you previously unaware of what the amount would be?

 

[MartinK9]

Mine's is provisionally £147.50 at the moment, and I have two more years of back dated voluntary payments to reach the maximum I can expect.

I have kept an eye on my contributions for a while.

Still over a decade until I can collect it though.....

 

[TeeDee]

Still over a decade until I can collect it though.....

I'm hoping with the strength of our influential Feminist movement they continue to lobby to have the male age of pension entitlement lowered to bring equality with the Female age of pension entitlement. for some sexual equality.

So maybe you'll get yours Sooner than expected Martin.

 

[Oliver G]

Well that was a depressing look into the future on a Monday morning.

40 more years until I can claim a pension which will not even cover rent on my house, I'm glad I've been putting as much as i can into private pensions, I just hope they don't go bust in the mean time.

 

[TeeDee]

Well that was a depressing look into the future on a Monday morning.

40 more years until I can claim a pension which will not even cover rent on my house, I'm glad I've been putting as much as i can into private pensions, I just hope they don't go bust in the mean time.

Sorry Oliver - I honestly didn't mean to bum anyone out with the post - I've always thought its better to be Forewarned is Forearmed.. , Hopefully it can help plan some financial decisions for the future.

I posted as many of my friends seem to also be unaware and are living life to the fullest.
Again , sorry if I accidently depressed you. Its a wake up call I guess and at your age you do have time to alter/influence the outcome.

 

[John Fenna]

Well - it is more than I am earning at the moment!

 

[Oliver G]

Sorry Oliver - I honestly didn't mean to bum anyone out with the post - I've always thought its better to be Forewarned is Forearmed.. , Hopefully it can help plan some financial decisions for the future.

I posted as many of my friends seem to also be unaware and are living life to the fullest.
Again , sorry if I accidently depressed you. Its a wake up call I guess and at your age you do have time to alter/influence the outcome.

Oh no it's fine, It's an interesting insight into my generation's nihilistic sense of humour that we joke about not having anything in the future.

I would say most people my age (mid to late 20's) are more fiscally conservative than older generations and are planning on being squeezed on both age sides by supporting our own growing families and providing social care for the ageing population.

There are, of course, those that just throw their cash away in all generations.

It'll be interesting to see how other generations perceive themselves and us.

 

[oldtimer]

The problem with planning for the future is that it cannot be predicted. We planned and saved for all our working lives and expected that we would be able to live on the interest on the capital that we had saved though not living the high life.. Not a chance! The current rate of interest does not even keep pace with inflation, so our savings are reducing in value.

We would appear to have done well because of rising property prices, but were charged 14.5% interest on a mortgage for many years, so somebody did well out of us .We have spent the major part of our 59 years together being property rich and cash poor. Housing and associated costs swallowed up half our earnings. Our sons have no expectations of inheriting much as they expect care costs and taxes to swallow it up. Our current aim is to provide funding for our grandchildren's further education- something neither we, their other grandparents or their parents had to do.

I feel sorry for Oliver's generation and that of my grandchildren. At least our generation had expectations of some kind of future despite living with the ever-present prospect of nuclear annihilation. We haven't left much of an inheritance for you, have we? We seem to have used up our share of the earth's' resources and yours as well. Good luck with cleaning up the mess we are leaving you with. We had the party, you get the hangover and the bill!

 

[Paul_B]

Well we're late 40s and expect retirement age to go past 70 yo. Of course we don't think that retirement age will count for much with pensions from state provisions probably being worthless. By worthless I mean if it even exists it'll n probably only pay for one Costa coffee a week. Not that we'll be getting one then, but it's an easy to reckon item you might have purchased one time as a comparison.

It was once thought that every generation is better off and will be better off than the one before. However I read somewhere that researchers actually studied that theory and determined that if it was ever true it was only for the baby boomer generation. Possibly one before too. It'll certainly not true of my generation, whatever I am part of at late 40s age.

 

[subzeer0]

i knw what i was going to get my sone is fraud manager with hmrc and his friend worked in that area ...he told me and to go to ,gov,uk to check for myself

 

[PREPER]

Mine's is provisionally £147.50 at the moment, and I have two more years of back dated voluntary payments to reach the maximum I can expect.

I have kept an eye on my contributions for a while.

Still over a decade until I can collect it though.....

Martin,
Same here, last time I looked around £150. Also a few years short to get to the maximum.
Preper...........