Paphos Life

Next April we will get nearly 4% raise .

https://www.thisismoney.co.uk/money/pen ... -2020.html

I read this yesterday but it makes me mad that we have a 2 tier system & those who paid in less are now getting more. Reading the headlines it makes it look as if all pensioners will be on £175 a week - I wish!!

I agree with Cactuslil I cannot see why the two tier system was brought in.

" That means the basic state pension is set to rise by £5.05 a week to £134.25, while those on the full flat-rate introduced in 2016 will see their payouts increase by around £6.60 a week to £175.20."

My pension was under the new system , I got it last year mine is £134 a week just now . It was reduced due to being contacted out . Not many new pensioners get the full amount due to the same reason .

And our employers did not tell us we were contracted out.

A big rise? what! enjoy spending all of that 4%
#
Also 4% of what?

I am well pleased. That HUGE pay rise will do me. Better than a kick in the teeth

4% is a lot more than most workers will be getting.

Have had a quick look at the other benefits and only the State Pension has a two tier system - grossly unfair.

Still keeps the U.K. pension one of the lowest in the EU.

Still keeps the U.K. pension one of the lowest in the EU.

You can thank Gordon Brown for that he killed the best pensions system in the world!

That 4% rise would not buy MPs breakfast.

Paul & Lesley wrote: ↑Fri Oct 18, 2019 11:22 am Still keeps the U.K. pension one of the lowest in the EU.

You can thank Gordon Brown for that he killed the best pensions system in the world!

Again you make statements without any references or sources. I'll provide one for you.

Jim

https://www.channel4.com/news/articles/ ... 71020.html

You could read this if you like!
https://www.telegraph.co.uk/finance/per ... nties.html

And then this
https://www.dailymail.co.uk/news/articl ... lions.html

Who gives a toss!!. As long as I get the BIGGER pay rise than I normally get, then I am a happy bunny.

More concerned about the fact that one allowance that forms part of the UK State pension stops on 5th April 2020. Known as the Adult Dependency Increase. If living in the UK one could apply for Pension Credit or Universal Credit from 6th April 2020. All part of the sweeping changes over the past decade including the currently challenged increase in State Pension Age for women.

zorbathejock wrote: ↑Fri Oct 18, 2019 10:55 am Still keeps the U.K. pension one of the lowest in the EU.

You Brits should count yourselves lucky not to be German pensioners. There is no set minimum raise at all in Germany. However, pensions dropped by 30% after reunification because the pension pot now has to be shared with all the Eastern Germans who never contributed to it (not their fault, I know - but still unfair to Western pensioners).

Paul & Lesley wrote: ↑Sat Oct 19, 2019 8:37 am You could read this if you like!
https://www.telegraph.co.uk/finance/per ... nties.html

And then this
https://www.dailymail.co.uk/news/articl ... lions.html

The Telegraph and Fail: says it all really.

It is 35 years at the moment , minimum 10 years .

https://www.gov.uk/new-state-pension/how-its-calculated

I'm 6yrs short and it's not worth me paying additional contributions.... I still have another 5yrs before I can get my pension.
But I do have 12yrs of contributions paid into the SI fund in Cyprus and that's something I need to check up with overseas part of the UK pensions dept.