Latest Moan From You and Me 2024

If no one has to pay NI as a separate cost through their working life, they can't say "We paid in so now we are due a state pension" on retirement. Then, the state pension could really become a benefit (rather than in name only), which, of course, most would not be entitled to.

TBF, govs have to do something as the current system is unsustainable. Their difficulty is the state pension has always been sold to the public as a right if you accrue the necessary yrs. Take away the "accrue" part of the equation (by scrapping NI contributions) and you solve that dilemma. The problem then is what to do with those already claiming or coming up to retirement age. The WASPI saga has shown you can just withdraw stuff at short notice and get away with it.

With a 5 yr term ahead, it makes sense for Labour to do something drastic immediately, when they can blame the Tory mess and have a lengthy period to get other groups within society onside through wage growth, etc. An element of means testing seems most likely, and my guess is granting the DWP powers to access pensioner bank accounts was a necessary precursor step.

If they do go the means test route, no subsequent gov will reverse it due to the cost.

 

They need to make their intentions clear pretty soon as I'm poised to pay several missing years of NI contributions to get nearer to the full state pension.

 

I'd hold fire till after the budget if you can, @LunarSea. Voluntary contributions are never reclaimable, even if having paid them does not increase your pension, AFAIA.

 

why do printer never work when you want them to!!!!!!!!!!!!!! new printer a few month back it would talk to computer then when i got it to talk it wouldn't printer, we have a small window and it may go flying out of said window
I think all this new tec is going backwards, even on the printer it says "Keep it simple" if it was simple it would bleeding work, HP printer

I will be thinking hard aboout staying on this planet!!!!!

 

I thought that you only needed 35 yrs contributions to get the full state pension?
Pay more, like 15 yrs more and you dont get anymore.

 

Ah, but, money "diverted away" actually goes to the Big Boys, through weapons sales, rebuilding programmes, all manner of schemes ostensibly to help poorer countries that strangely never seem to benefit those in need, whereas giving tax payer money to the elderly doesn't generate wealth for the elite.

 

You do ... but you don't stop paying NI on earnings when you reach the magic 35 yr mark. NI contributions only stop once you reach 66 (currently) and even then you may accidentally go on paying them and have to reclaim the money. This can take up to a yr and you won't get any interest on the amount, even though the delay is not your fault.

 

It's a bit more complicated than that if you've ever been contracted out. I've already worked more than 35 years but only hit enough contributions for the full new state pension later this year.

 

Hells Bells @shiney I hope you took those stockings home with you and made use of them to tie up your tomatoes or whatever
All joking aside, that really is apalling advice considering the constant reminders that the NHS is underfunded.

 

Yes, I have paid for 42 years to make up for the COPE deduction as I was once contracted out. It is complicated. Now I get about 50p less than the full New State Pension. It was well worth buying those extra years.