How much state pension do you think you will receive?

[Rogero]

The max you can receive is £155. I will be 65 in a few months and will get £133 per month. This is for 48 years of contributions .Who will receive £155.00 ?

 

[GoldWithFalmer]

The max you can receive is £155. I will be 65 in a few months and will get £133 per month. This is for 48 years of contributions .Who will receive £155.00 ?

please tell me you mean a week?

 

[Frutos]

By the time I get to whatever the pensionable age will be at that stage, I expect it to be worth the equivalent of about tuppence ha'penny.

 

[sir albion]

By the time I retire if I live that long it will be work til you drop....Personally not one for thinking about retirement and to be frank not overly keen on living as an OAP

 

[GoldWithFalmer]

i am 43 and an ex employer did not pay my NI contributions for 8 months and i was offered to top it up but declined due to lack of money many years ago,i have also missed 2 years since 19 as unemployed so mine will not be much but i have a private fund on the go although i only started that in 2012....

 

[darkwolf666]

By the time I retire if I live that long it will be work til you drop....Personally not one for thinking about retirement and to be frank not overly keen on living as an OAP

Yep, work til you drop is the current ethos. Retirement age going up to 66 then 67, so won't be long until it's 70. Not sure where all these jobs are going to be for septegenarians!

 

[heathgate]

The max you can receive is £155. I will be 65 in a few months and will get £133 per month. This is for 48 years of contributions .Who will receive £155.00 ?

Well I presume I will get the max... I am 53... never been unemployed even for 1 day, although mine won't kick in until I am 67. I do however also have a very lucrative final salary pension on the go, so far covering 30 years of working in the IT world in the banking industry... so happy days when I put my feet up in a couple of years.

 

[Rogero]

Well I presume I will get the max... I am 53... never been unemployed even for 1 day, although mine won't kick in until I am 67. I do however also have a very lucrative final salary pension on the go, so far covering 30 years of working in the IT world in the banking industry... so happy days when I put my feet up in a couple of years.

I do not think you will get the max. I think if you have another pension you are penalised.

 

[Beach Hut]

Well I presume I will get the max... I am 53... never been unemployed even for 1 day, although mine won't kick in until I am 67. I do however also have a very lucrative final salary pension on the go, so far covering 30 years of working in the IT world in the banking industry... so happy days when I put my feet up in a couple of years.

About where I am, if I can eek out and three years or so then should have a good time when finished with work

 

[KZNSeagull]

Yep, work til you drop is the current ethos. Retirement age going up to 66 then 67, so won't be long until it's 70. Not sure where all these jobs are going to be for septegenarians!

Personal shoppers/home shopping delivery drivers etc at Tescos for all the lazy sods who cannot be bothered to do the shopping themselves.

 

[Butch Willykins]

Late 30's now. I fully expect when I retire the state pension will be means tested and as I've a private pension pot I'll get sod all.

What you pay in tax funds the current welfare bill, it's not a savings account for the future.

 

[Lord Bracknell]

I do not think you will get the max. I think if you have another pension you are penalised.

Only if the other pension has been accumulated alongside reduced National Insurance contributions - which is quite a common arrangement with high-quality employers' pension schemes.

 

[murciagull]

Should get about 135.00 pounds a week (opted out of SERPS for a while so will not get full amount) but when I am 67 ( i am 62 now) will have paid in to the Spanish system for 15 years and get about 600 euros a month from them as well. Cant Wait!

 

[darkwolf666]

Personal shoppers/home shopping delivery drivers etc at Tescos for all the lazy sods who cannot be bothered to do the shopping themselves.

Not forgetting trolley pushers... All real positive full time jobs to keep the old off the poverty line

 

[jakarta]

Not forgetting trolley pushers... All real positive full time jobs to keep the old off the poverty line

As a matter of interest, given the fact that we are all living longer how do you think any Government can finance the state scheme if we have a population that may be drawing a pension for 30 or more years? Please don't tell me you would get Google and Starbucks to pay their taxes...

 

[darkwolf666]

As a matter of interest, given the fact that we are all living longer how do you think any Government can finance the state scheme if we have a population that may be drawing a pension for 30 or more years? Please don't tell me you would get Google and Starbucks to pay their taxes...

Yes we are living longer, but there comes a point when people aren't as capable of being a policeman, fireman or any other physical job. We can't all carry out sedentary occupations that will allow us to work into our dotage. Whathappens to those people?

 

[happypig]

I've been looking at mine this week. I'm 52 and planning to retire in 5 years with a reasonable lump sum and around £1600 a month pension. I've recently started putting AVCs (Additional Voluntary Contributions) in too, to boost it a bit. As far as I can tell, I qualify for a full state pension of £155 but because I contracted out my company pension will be reduced by £40 so effectively I only get the state minimum.

You can check what youll get here : https://www.gov.uk/check-state-pension

 

[studio150]

Effectively none as my company pension will be reduced by any amount that I get.

 

[jakarta]

Yes we are living longer, but there comes a point when people aren't as capable of being a policeman, fireman or any other physical job. We can't all carry out sedentary occupations that will allow us to work into our dotage. Whathappens to those people?

Physical jobs are an issue, I would not want to be a 65 year old bricklayer but I would argue that the majority of UK jobs are now office type.

I know that even factory jobs are largely sedentary, I'm working at a large Plasterboard Plant next week and most of the site operatives sit looking at Control Panels all day!

I am minded to think that decisions about Pension Provision should be taken away from Politicians as by definition they are only thinking of the next 5 years.

 

[happypig]

Effectively none as my company pension will be reduced by any amount that I get.

No it won't. If you've "contracted out" for a long time like I have you will see an effective reduction from £155 to £115. That's how it stands at the moment, don't rule out further fidling.