OAP Increase 2016.

There is a gradual increase in the age to draw your old age pension, not sure how it works, but youngsters of today will have to work beyond 65 to draw it. I am sure as they increased the school leaving age to keep the unemployment figures down, they have to increase the years on the end to make up the time lost in contributions at the beginning. In my time most of us left school at 15, and as there was plenty of work, we contributed very early. Nowadays it seems that kids of 15 are treated as almost babies. I am from a lucky generation, plenty of work from day one, went to sea when jobs were plenty, left the sea and went into a job that was a job for life, with a pension. How many kids have that future now??. Kt

#10 It was his birthday this month and I was 16 when he was born and away to sea shortly after so is maybe 63 the last time spoke to him he said he could not retire at 65, so maybe he was referring to he couldn't afford to retire at 65 in that case. I know he will not claim any reductions on his council rent and am sure he would be entitled to them. However is his life and cant interfere. When my mother was alive she got the reduction on rent and no TV licence and such so could survive. However has since lost all these perks and is having to go into his savings to survive, when they are finished, who knows maybe he will then go cap in hand. He worked all over the Xmas and New Year to let the married ones have time at home, and up till now says his firm has not paid him any penalty rates for the holiday time. He must be a different nature to me as would have been the first one knocking at the bosses door and his head if need be. Cheers John S

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Originally Posted by Keith Tindell

There is a gradual increase in the age to draw your old age pension, not sure how it works, but youngsters of today will have to work beyond 65 to draw it. I am sure as they increased the school leaving age to keep the unemployment figures down, they have to increase the years on the end to make up the time lost in contributions at the beginning. In my time most of us left school at 15, and as there was plenty of work, we contributed very early. Nowadays it seems that kids of 15 are treated as almost babies. I am from a lucky generation, plenty of work from day one, went to sea when jobs were plenty, left the sea and went into a job that was a job for life, with a pension. How many kids have that future now??. Kt

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Keith, I also was never out of work, And have a few pension pots i am seeking advice on combining together, I had a chat with a cousin of mine recently he was telling me that although he worked he has been told that anyone born after April 1956, Wont receive a state pension, Another worry for anyone about to draw there pension is quite a few pension pots where invested in what was always considered black gold { OIL } As for our youngsters lord knows the state of affairs, They will find themselves in, in 40 or 50 years time Terry. :eek:

##terry whatever happens in 50 years time .....there will be winners losers and in betweeners....and anyone who pays NI will get a pension......life is a lottery ...the young must learn to adapt to the situation that is current at the time.....nothing stays the same.....we must adapt ....regards cappy

Agree Cappy, I advised my 3 lads all self employed, The day they started work and there all time served tradesmen know, Not only to pay into a private pension, But to save whatever you can afford each month locked into a high savings account then when you have a few grand in that bank..........Open another one in a different bank and just forget about it glad to report they are all doing fine Terry. :cool:

Last nights news.
New Canadian Tire store opening in Calgary.
Positions for 50 employees.
500 showed up to apply. [none looked from the Middle East]
That shows something about our unemployment.
And we are still bringing in refugees.
Thank goodness I am not looking for work.

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Originally Posted by red lead ted

Keith, I also was never out of work, And have a few pension pots i am seeking advice on combining together, I had a chat with a cousin of mine recently he was telling me that although he worked he has been told that anyone born after April 1956, Wont receive a state pension, Another worry for anyone about to draw there pension is quite a few pension pots where invested in what was always considered black gold { OIL } As for our youngsters lord knows the state of affairs, They will find themselves in, in 40 or 50 years time Terry. :eek:

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whatever you do be careful about combining pension pots.there are advisers out there who will take large fees for doing this and dissipate your total fund.It may be advisable to just take the pensions from their exsisting provider and stagger the onset of each pot look at doing a drawdown.As far as anyone born after 1956 not receiving a state pension.Load of crap!!!!!!

I would imagine that the majority of people on this site had to have forty years of contributions in order to receive the state pension when they retire at 65.
The new pension scheme gives more money for only thirty years contributions.
Regards
Vic

today my state pension is £616.56 per 28 days
I have never claimed a bit from the state.
There is a joke here that OAP's are going bus trip to France and coming in illegal and claiming more that way
Ron the batcave

Ron as I said in a previous post, I retired officially in 2002 and the UK pension was 73 pounds a week. If I had paid them about 3000 pounds they would have upped this to 75 pounds. I hung on to the 3000 pounds that I didn't have. 14 years later it is still 73 pounds. Think of all those who started on40 pounds a week. However I have other arrangements re pensions and am not too uncomfortable. However not that well off as to throw it away. I would not like to be in the position that Braid is in. I don't know how he is allowed to keep 2 youngsters in his care if he cant support, especially at his age. If he confirmed that he had received his mail, he might get others sending him help, however if they think it is not getting there no one is going to send. I fail to see if he has a publisher for his books he must get any royalties put into a bank account somewhere. Lets hope he sees light at the end of the tunnel soon. Cheers all the best JS