State Pension Changes

#1
I see that from 1st April this year (not an Aprils Fool joke!) that the amount of years in work you have to do to fully qualify is being reduced from 44 years to 30 (for blokes).

So, does this mean then that if you've already paid NI for 30 years that you can stop chipping in?
Can't seem to see what difference it makes if you can't claim it until you're 65 anyhow.

I looked here:

http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/DG_069498

but couldn't find anything. I'm just hoping that I don't have to give the fuckers more money than I have to!
 

ugly

LE
Moderator
#2
It doesnt stop your contributions at all but if you are self employed it can seriously reduce them. (experience based info from a colleague!)
 
#3
ugly said:
It doesnt stop your contributions at all but if you are self employed it can seriously reduce them. (experience based info from a colleague!)
Bugger! Seems like there's no benefit to your average worker then. Best I go sick a lot more then to feel like I'm getting something back!
 

old_fat_and_hairy

LE
Book Reviewer
Reviews Editor
#4
38 more working days and I will have first hand experience of what it is!
 

Sixty

ADC
Moderator
Book Reviewer
#5
jack-daniels said:
So, does this mean then that if you've already paid NI for 30 years that you can stop chipping in?
Definite no JD. You have to keep paying until you're 65 I'm afraid.
 
#6
I've been listening to this on the radio for some time and been concerned that for a country that's on the financial rocks, we are extending the volume of money we are handing out by reducing the qualification requirement. I presume that this will mop up those immigrants who have moved over during their adult lives and choose to stay until retirement.

But then . . . . . . I also had this update from an HR consultant regarding the provision of pensions by employers. At the moment we employers have to make an employee contributing pension available. In future it seems that we employers have have to provide and contribute to an approved pension which effectively mirrors that provided by the state.

Once this is in place, I presume that it will be easy for any Government to massage and increase our obligation at any given budget. I must admit this had slipped by me unseen but isn't this just the start of the privatisation of the old age pension?

Workplace Pension Reform 2012 – the next
stage

The radical shake-up of workplace pensions will,
from 2012, require employers to automatically
enrol their staff into a qualifying pension scheme
and make minimum contributions to that
scheme. The new rules will cover not just
employees but also workers and agency staff.
Employers will be required to make a minimum
contribution of 3% of the worker’s pay into the
scheme.

With only a couple of years left before the new
system is introduced, many employers will want
to start planning now how they will operate the
scheme when it comes into force (and planning
for the additional cost). In particular employers
may wish to establish whether any existing
pension scheme offered to staff is a “qualifying
workplace pension scheme” for the purposes of
the Pensions Act 2008.

The good news is that there will be a phased
implementation and smaller organisations will
have extra time for implementation.
 
#7
Sixty said:
jack-daniels said:
So, does this mean then that if you've already paid NI for 30 years that you can stop chipping in?
Definite no JD. You have to keep paying until you're 65 I'm afraid.
And beyond, I presume, if you either keep working or have an income.

More rewards and incentives to be idle.
 
#8
jack-daniels said:
ugly said:
It doesnt stop your contributions at all but if you are self employed it can seriously reduce them. (experience based info from a colleague!)
Bugger! Seems like there's no benefit to your average worker then. Best I go sick a lot more then to feel like I'm getting something back!
I'll stand corrected if I'm wrong. But, If you leave school at 18 and work until you're 67 that's 49 years worth of N.I.C's that you'll have paid. So all those payments over and above the 30 years won't add a single penny to your own State Pension, but instead it'll go towards funding the ever increasing welfare burden and pay for all those cnut's that can't be arrse to work.!

I mean, even if they haven't contributed a penny towards it they also have a right to equality and a share of the national wealth. Or at least that's what the Lezzer Harman would have us all believe.
 
#9
heard_it_all_before said:
jack-daniels said:
ugly said:
It doesnt stop your contributions at all but if you are self employed it can seriously reduce them. (experience based info from a colleague!)
Bugger! Seems like there's no benefit to your average worker then. Best I go sick a lot more then to feel like I'm getting something back!
I'll stand corrected if I'm wrong. But, If you leave school at 18 and work until you're 67 that's 49 years worth of N.I.C's that you'll have paid. So all those payments over and above the 30 years won't add a single penny to your own State Pension, but instead it'll go towards funding the ever increasing welfare burden and pay for all those cnut's that can't be arrse to work.!
I mean, even if they haven't contributed a penny towards it they also have a right to equality and a share of the national wealth. Or at least that's what the Lezzer Harman would have us all believe.
That seems to be the jist of it I reckon! Robbing twats!
 
#10
ericthellama said:
I've been listening to this on the radio for some time and been concerned that for a country that's on the financial rocks, we are extending the volume of money we are handing out by reducing the qualification requirement. I presume that this will mop up those immigrants who have moved over during their adult lives and choose to stay until retirement.

But then . . . . . . I also had this update from an HR consultant regarding the provision of pensions by employers. At the moment we employers have to make an employee contributing pension available. In future it seems that we employers have have to provide and contribute to an approved pension which effectively mirrors that provided by the state.

Once this is in place, I presume that it will be easy for any Government to massage and increase our obligation at any given budget. I must admit this had slipped by me unseen but isn't this just the start of the privatisation of the old age pension?

Workplace Pension Reform 2012 – the next
stage

The radical shake-up of workplace pensions will,
from 2012, require employers to automatically
enrol their staff into a qualifying pension scheme
and make minimum contributions to that
scheme. The new rules will cover not just
employees but also workers and agency staff.
Employers will be required to make a minimum
contribution of 3% of the worker’s pay into the
scheme.

With only a couple of years left before the new
system is introduced, many employers will want
to start planning now how they will operate the
scheme when it comes into force (and planning
for the additional cost). In particular employers
may wish to establish whether any existing
pension scheme offered to staff is a “qualifying
workplace pension scheme” for the purposes of
the Pensions Act 2008.

The good news is that there will be a phased
implementation and smaller organisations will
have extra time for implementation.
You are correct and the new system is due to start in 2016 and is already causing ructions!

National Employment Savings Trust (NEST) Home Page

Comment

I thought that all employers had to provide a pension scheme but they don't have to fund it, so there are lots of of open pension schemes containing zero dosh! Another one of the Government's half baked ideas!

This NEST business should have no impact on the Army.

Litotes
 
#11
On the plus side im guessing this means i can work until in 48 then **** off to abroad and still be get my full pension? Having done my 30 years and wont have to chip any more in to the chav scum?
 

ugly

LE
Moderator
#12
danny842003 said:
On the plus side im guessing this means i can work until in 48 then * off to abroad and still be get my full pension? Having done my 30 years and wont have to chip any more in to the chav scum?
Yes and no, under current rules you would get the pension but fixed at the time of award unless in an EU country, commonwealth doesnt count.
However in an EU country you will probably become liable for contributions there even if you dont work and definetly if you do and possibly even UK NIC's should the Gov get its own way.
You could however live here, never pay any of them (including voluntary for the self employed) and still get a full state pension provided you can live on nothing or at least nothing declared!
Odd isnt it?
 

ugly

LE
Moderator
#13
The soon to be phased in rules are in theory to ensure that married women now widowed etc are not disadvantaged by losing their wage earner and not having paid anything in but in reality will just shaft the taxpayers for the none tax payers as per usual!
 
#14
Just spoken to the Lying Barstewards.

The 30 years is to give you the Basic State Pension .

and thats it . If you move away from the UK or stop working you will still benifit from the Basic State pension when you get to retirement age. 95 pounds a week in 2009.

If you stay in the UK and keep working you will still need to keep on paying NI contributions. This extra cash goes towards your additional State Pension and a range of other benefits that depend on National Insurance so that would be

National Insurance contributions pay for the following benefits:

the basic State Pension
the additional State Pension
Jobseeker's Allowance - the 'contribution-based' element
Employment and Support Allowance - the 'contribution-based' element
Maternity Allowance
bereavement benefits - Bereavement Allowance, Bereavement Payment and Widowed Parent's Allowance


Trying to find out how much the additional State Pension actualy is , is complicated as it depends on how much you have put into NIC's over the OTHER years after 30 .


Any expats out there who are paying Class 3 contributions and have 30 years in , well your paying twice as Class 3 contributions only cover the basic state pension not the additional state pension. So all you will get is the basic pension.

Just like those on the dole on jobseekers allowance or any other allowances. (Paid for by those working in the UK as their other NIC's) :?


Also you might have to ask to recieve the additional pension , if the Costoms don't have your current address they wont be able to tell you when to start claiming. :D
 

Sixty

ADC
Moderator
Book Reviewer
#15
If you're a member of the Armed Forces Pension Scheme, you're contracted out of the State Second Pension anyway.
 
#17
It's a con that allows slackers to claim a full pension at the expense of us idiots who've worked since we left school and will do so until we are 65. :x :x :x :x
 
#18
Sixty said:
jack-daniels said:
So, does this mean then that if you've already paid NI for 30 years that you can stop chipping in?
Definite no JD. You have to keep paying until you're 65 I'm afraid.
Cannot remember all the details but I retired/opted out at 56 after 40 years in work.
I think I was automatically credited with an extra 4 years contibutions, not sure how the new changes affect me, if at all?
 

maninblack

LE
Book Reviewer
#19
ericthellama said:
I presume that this will mop up those immigrants who have moved over during their adult lives and choose to stay until retirement.
O llama based one, do you not realise that certain countries, such as the USA, have reciprocal agreements with the UK so that any working years completed before immigrating into the UK count toward your total contribution and vice versa.

On this basis The Spousal Unit arrived in the UK aged 35 with 14 years credited payments based on her working career in the colonies.

Toodle pip.

MiB
 
#20
When has this government ever done anything for the British subjects who have worked all their lives, married, not broken any major laws, brought their children up without extra help from a plethora of jobs-worth and never sponged off the state? If you fall into the above category by any degree then like all legislation produced under this foul lot, it is designed to screw you however cleverly worded.
 

Similar threads

Latest Threads

Top