The Benefits System

[Frankie Burrows Cap]

Well I doubt that most pensioners can live on £12.500 a year,

Of the 75% of pensioners that own their homes outright I’d imagine the vast majority in the UK could quite comfortably live on £1k a month as a single pensioner or £2k per month as a couple.

 

[Niigata Jack]

£250k if you get it for 20 years and that’s without taking into account the baked in increases every year. Don’t want much do you.

Yes I do after 50 years of physical work ?
I won't have a civil service pension to help me either, you gonna sit at your desk till you are 67/68 ?

 

[Niigata Jack]

Of the 75% of pensioners that own their homes outright I’d imagine the vast majority in the UK could quite comfortably live on £1k a month as a single pensioner or £2k per month as a couple.

What with council tax, energy bills etc, ?

Where did you get the 75% figure from?

 

[Frankie Burrows Cap]

What with council tax, energy bills etc, ?

Where did you get the 75% figure from?

Yep, assuming you’re not a single pensioner living in a 5 bed house (or in some areas of the South East of England), although you’d get a significant discount on Council Tax if that’s the case and clearly most in that situation would have other savings or other pensions.

IFS website
“Around 74% to 80% of pensioner households in the UK own their homes outright, meaning they live mortgage-free. Only a small fraction (around 4%) are still paying off a mortgage, while the remaining pensioners rent privately or live in social housing”

 

[exiledclaseboy]

Yes I do after 50 years of physical work ?
I won't have a civil service pension to help me either, you gonna sit at your desk till you are 67/68 ?

I’ll be entitled to the same state pension as you. No need to get personal about it.

 

[Smurph]

Of the 75% of pensioners that own their homes outright I’d imagine the vast majority in the UK could quite comfortably live on £1k a month as a single pensioner or £2k per month as a couple.

There was an article somewhere, can't for the life of me where, suggested you could live quite comfortably on 10.5k per year at pension age.

My kids will all be in their mid-thirties by then and all totally self-reliant, only outgoings we'd have are your standard bills, such as water, gas and electric and so on.

Mortgage will be done and there is no commute to work.

 

[ThurrockJack]

Well I doubt that most pensioners can live on £12.500 a year, I can claim my state pension in November 2027, I'd have worked for just over 50yrs, so £12.500 a year isn't a decent return in my opinion, I don't care who disagrees it's my own opinion.

Reality doesn't really care about your opinion. Your attitude and the failure understand how good you have got it is precisely why the younger generations despise boomers.

 

[Niigata Jack]

Reality doesn't really care about your opinion. Your attitude and the failure understand how good you have got it is precisely why the younger generations despise boomers.

"Your attitude and the failure understand how good you have got it is precisely why the younger generations despise boomers."

How good have I got it then??

Despise boomers WTF does that mean, they despise people who have worked for 50 yrs do they??

 

[Niigata Jack]

I’ll be entitled to the same state pension as you. No need to get personal about it.

Apologies for that, it was unnecessary

 

[Niigata Jack]

Yep, assuming you’re not a single pensioner living in a 5 bed house (or in some areas of the South East of England), although you’d get a significant discount on Council Tax if that’s the case and clearly most in that situation would have other savings or other pensions.

IFS website
“Around 74% to 80% of pensioner households in the UK own their homes outright, meaning they live mortgage-free. Only a small fraction (around 4%) are still paying off a mortgage, while the remaining pensioners rent privately or live in social housing”

Not all older people people are the same, some got different family lives to most, I'm not retired yet and I may not retire or claim my state pension when its due either, my wife has another two yrs after my date, even though she works part time I may decide to continue.

 

[Glyn1]

I agree, and I hope that we all agree, that £12,500 is nothing to live on. It probably doesn't even cover the electric & gas bills. Surely the basic money should be raised a lot for the people who need it, and not be paid to the people who don't need it.

 

[Glyn1]

Not all older people people are the same, some got different family lives to most, I'm not retired yet and I may not retire or claim my state pension when its due either, my wife has another two yrs after my date, even though she works part time I may decide to continue.

For every year that you defer your state pension, you get an increased payment. I think it's about 5% each year but don't rely on me, you need to check that for yourself.

 

[J_B]

It’s a gamble. You could defer it and die before you get anything back. If you don’t need it because you’re still working and in excellent health it may be a good thing to do.
Roll the dice.

 

[Frankie Burrows Cap]

Not all older people people are the same, some got different family lives to most, I'm not retired yet and I may not retire or claim my state pension when its due either, my wife has another two yrs after my date, even though she works part time I may decide to continue.

Of course, it wasn’t meant as a criticism.

But in the current economic climate, with an ageing population and a health and social care system on its knees then ‘expecting’ the state pension to be any more than £1k per month is unrealistic IMO.

 

[Frankie Burrows Cap]

I agree, and I hope that we all agree, that £12,500 is nothing to live on. It probably doesn't even cover the electric & gas bills. Surely the basic money should be raised a lot for the people who need it, and not be paid to the people who don't need it.

I’m not sure I would agree that it’s ‘nothing’ if you own your own house for a single person.

It’d comfortably cover council tax, electricity, gas, broadband, food with a a bit to spare as disposal income each month.

Your last point is spot on but the reality is that the support is available - 1 in 9 or 10 pensioners receive pension credit and obviously there are things like carers allowance available for those who need it.