Another reason to retire early

Discussion in 'Off-Topic Discussion' started by clanless, Jul 8, 2015.

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  1. shiney

    shiney President, Grumpy Old Men's Club Staff Member

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    We seem to be in agreement on this. :blue thumb:

    That's not quite right, at the moment, but I don't know if it will change, or has changed.

    I also paid into SERPS (State Earnings Related Pension Scheme) which was a voluntary additional contribution which would give an additional state pension. So, for some years I paid extra N.I.C. and when I retired I got more than the basic state pension.

    Conversely, my wife also worked for well over 40 years and paid N.I.C. for all that time but opted for reduced N.I.C. payments (married woman's contributions) and got a much smaller pension than the basic state pension.

    So our pensions bear some relationship to how much we contributed.

    They stopped SERPS in 2002 (I retired in 2001 :old:) but continued it in a form that they called the State Second Pension. I don't know what has happened to it.
     
    shiney, Jul 13, 2015
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  2. Scrungee

    Scrungee Well known for it

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    Pension Credit appears to me to be a pension, just with a slightly different title and also appears to payable (£152.50/week/single person, non-taxable) to anyone of U.K. state pension age eligible for a N.I. number regardless of whether they've contributed a penny of N.I. contributions, or even previously worked in the U.K.
     
    Scrungee, Jul 13, 2015
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  3. Dips

    Dips Total Gardener

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    Wow £152.50 a week is loads. If i get that i would be so happy its £200 more than i live on now a month
     
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      Dips, Jul 13, 2015
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    • shiney

      shiney President, Grumpy Old Men's Club Staff Member

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      That's more than I get with my State Pension and SERPS added together!!!
       
      shiney, Jul 13, 2015
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    • Beckie76

      Beckie76 Total Gardener

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      Charlie996, I'm not denying anyone of anything I was just giving my opinion....which I'm entitled to do, it's a discussion & everyone has their own views.:whistle:
      I do agree with you that it appears the more you pay in the less you get, but I look at it a different way, if you have everything & can afford a good life & you don't need all the mentioned benefits you shouldn't claim them, the money you don't need could be spent on other services for people who are not so fortunate as yourself!
      Yes paying the ridiculous amount of tax & N.I I pay a year really jars me off but that doesn't mean I'd take something I didn't need, I'd rather the money went to someone worse off than me.
      I'm obviously not meaning to be confrontational & again this is just my opinion.
      Now what were we talking about? Oh yes retirement....I can't wait :dbgrtmb:
       
      Last edited: Jul 13, 2015
      Beckie76, Jul 13, 2015
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    • shiney

      shiney President, Grumpy Old Men's Club Staff Member

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      Although I agree with the sentiment I have trouble working out how to decide what 'have everything & can afford a good life' means. :scratch: Who decides, but more importantly, what criteria do you use?

      Some people think that if you don't have a smart phone, an iPad, Kindle and a Sky subscription then you not only don't 'have everything' but are impoverished :noidea:. Everything is too subjective! :what:

      'Afford a good life' is equally subjective. One of my friends considers a good life is being able to go down the pub five times a week and being able to drink and smoke as much as he wants. :doh: I, also, received in the post today an ad for a round the world cruise at £167,000.

      If I 'only' had £150,000 I couldn't afford it but I'm sure that most people would consider that was easily enough money to 'have everything & can afford a good life'.

      So I'd hate to have to try and decide what would be sufficient for people but, as I said earlier, I'm sure that most of the people that have plenty wouldn't dream of applying for the benefits they're currently entitled to.
       
      shiney, Jul 13, 2015
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    • Beckie76

      Beckie76 Total Gardener

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      @shiney I'm sorry I didn't explain myself very well..:doh: I'm really :snooze:
      'Have everything & a good life' what I'm trying to say is if you can afford to provide yourself with enough, food, warmth, light, days out, plants :heehee:, compost :heehee: etc etc, you shouldn't need to claim additional monies regardless if you've paid in more or less than someone else, in my book there's a fine line between need & greed (now I sound like my grandad). I like to believe that we all know when we are doing ok & I like to think that 'most' people would agree that benefits of all kinds should be there to help people who genuinely need some help & not taken by those who don't generally need it/can manage without them.

      Like you have said Shiney I also like to think that people who have plenty wouldn't dream of taking the benefits they are entitled too.
      I hope that makes sense...I'm :snooze:

      :)
       
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        Beckie76, Jul 14, 2015
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      • shiney

        shiney President, Grumpy Old Men's Club Staff Member

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        I think all of us are agreeing. :grphg:
         
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          shiney, Jul 14, 2015
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        • Charlie996

          Charlie996 Gardener

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          My point is that those who pay the most should have equal entitlement and it should never be taken away .

          Whether they choose to take it is quite another matter and up to the individual..
           
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            Charlie996, Jul 14, 2015
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