| This will please Russian_Bot on 18:36 - Jul 6 with 1121 views | colinallcars |
Yes, I'm expecting him to reappear. However, it's best to get on first and stress that UK state pension is one of the lowest in Europe and other comparable countries. |  | |  |
| This will please Russian_Bot on 18:43 - Jul 6 with 1095 views | loftboy |
| This will please Russian_Bot on 18:36 - Jul 6 by colinallcars |
Yes, I'm expecting him to reappear. However, it's best to get on first and stress that UK state pension is one of the lowest in Europe and other comparable countries. |
It mentions that in the article, but no doubt he will be here stating that it’s benefit and should be means tested, if that’s the case then why do you have to check on the .gov website to see if you’ve made enough contributions? |  |
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| This will please Russian_Bot on 20:08 - Jul 6 with 975 views | Rangersw12 |
Can't see there being a state pension by the time I'm eligible |  | | |
| This will please Russian_Bot on 20:22 - Jul 6 with 953 views | DavieQPR |
| This will please Russian_Bot on 18:36 - Jul 6 by colinallcars |
Yes, I'm expecting him to reappear. However, it's best to get on first and stress that UK state pension is one of the lowest in Europe and other comparable countries. |
Different variables in play. Qualifying is longer in most. France you have to pay in for 40-43 years. Most European pensions don't have a flat rate so are taking into account the more affluent members. You read about a flat rate here but because of Supplementary payments my pension is enough that I have to pay tax on it which is deducted from one of my other pensions. |  | | |
| This will please Russian_Bot on 20:28 - Jul 6 with 941 views | loftboy |
| This will please Russian_Bot on 20:22 - Jul 6 by DavieQPR |
Different variables in play. Qualifying is longer in most. France you have to pay in for 40-43 years. Most European pensions don't have a flat rate so are taking into account the more affluent members. You read about a flat rate here but because of Supplementary payments my pension is enough that I have to pay tax on it which is deducted from one of my other pensions. |
As I left school at 16 even if I paid for 43 years I would only be 59, I’m assuming I’ll get mine at 68 so would have contributed for 52 years. | |
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| This will please Russian_Bot on 20:58 - Jul 6 with 882 views | DWQPR |
The UK state pension has gone through many various transformations. The basic pension was accompanied by a graduated pension until 1975 and then in 1978 the State Earnings Related Pension (SERPS) was introduced. This was an additional state pension based on 25% of your best 20 years earnings over your entire working life. This was reduced in 1989 to 20% of the average of your entire lifes earnings. Eventually SERPS was replaced by the State Second Pension in 2002 and this was eventually scrapped in 2012. Qualifying for the full state pension was always to make NI contributions for 90% of your entire working life with a minimum of 40 years. This was dropped to 30 years in 2008 and since has been upped to 35 years. The flat rate state pension was introduced in 2016 and works by the individual effectively buying 1/35 of the current weekly rate for every year of making NI contributions up to a maximum of 35 years. Unfortunately last this threshold you cannot get any additional credits or stop paying NI. Currently the flat rate state pension is around £179 per week which is massively better than the old basic state pension which is around £130 per week. Difference is that SERPS/S2P provided for a lot of people a very good top up. The flat rate pension has equalised benefits for everyone. We have lower state pension than most as we tax less than most. We have always been more of a society that would allow the individual to make the choice of self-funding more than the rest of Europe which takes the pressure off the state, especially with an ageing demographic. At one point not so many years ago we had more money imvested in private pensions than the rest of the EU combined. Unfortunately the downside of self-funding is that with more control of income for the individual comes the greater want of buying for the shorter term rather than saving for the longer term. | |
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