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Pensions in the UK

Discussion in 'Scotland - education news' started by Marco82, Dec 1, 2015.

  1. Marco82

    Marco82 Established commenter

    Just read an article in the Guardian online which shows how terrible pension levels are in Britain as compared to, well just about the whole of the rest of the western world. The details are stark and should be a call to action.
     
  2. HelenREMfan

    HelenREMfan Star commenter

  3. bigjimmy2

    bigjimmy2 Lead commenter

    Remember that most people won't get the full state pension upon retiring. What is it, you need 40 years of contributions?
     
  4. heldon

    heldon Occasional commenter

    30 years for the foundation amount as of April 2016. The each year thereafter is worth about £4 per weekly to a max of £151 ish?
     
  5. bigjimmy2

    bigjimmy2 Lead commenter

    Has anyone made any plans for supplementing their pensions? I'd be interested to hear.
     
  6. Yoda-

    Yoda- Lead commenter

    Yes. That's about how I understand it as well.

    If you have the Max foundation pension (30 years), you are talking of doing around an extra 10 to 12 years of work to get the new Max pension. This is as long as you pay enough NI contributions every year whilst doing this!

    The new universal flat rate pension is neither a guaranteed flat rate or for everyone. Such a confidence trick.
     

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