2024 State Pension Increase

[Diasi]

It seems that the increase will be around 8% as the rise in wages may exceed the inflation figure.

What pisses me off is the continual reporting that only includes the New State Pension figure, so most of us won't get "a whopping £11,400", we'll get around £9,200.

Anyway £11,400 isn't a whopping amount & £9,200 isn't even a subsistence level pension & 8% of bugger-all is still bugger-all.

[klondike]

8% of bugger-all is still bugger-all.

   

[GrannyMac]

I agree. It's not too bad for us whilst we have two pensions, but when the inevitable happens, the survivor's income will be significantly reduced.  There's a case to be made as we get less able for pensioners to claim Attendance Allowance. Age UK have an extremely helpful guide.

Anyone who has been awarded disability benefits prior to retirement, will not be eligible for both.

[peterv6153]

It seems that the increase will be around 8% as the rise in wages may exceed the inflation figure.

What pisses me off is the continual reporting that only includes the New State Pension figure, so most of us won't get "a whopping £11,400", we'll get around £9,200.

Anyway £11,400 isn't a whopping amount & £9,200 isn't even a subsistence level pension & 8% of bugger-all is still bugger-all.

Not sure where your figures come from. Pension Credit ensures that a single person gets £201.05 per week i.e. £10,454.60 p.a. and a couple gets £306.85 per week i.e.£15,956.20 p.a. If you only have an income of £9,200 you are eligible for Pension Credit which brings other benefits as well.

[klondike]

I think the intent must have been to phase out Pension Credit by setting the new state pension above the level it could be claimed. As Pension Credit opens the door to other housing related benefits those only in receipt of state pension are likely to be worse off. 

Older pensioners who made sufficient  financial provision to be ineligible for Pension Credit will be £2k and ever increasing sums worse off than younger pensioners.

[GrannyMac]

Not sure where your figures come from. Pension Credit ensures that a single person gets £201.05 per week i.e. £10,454.60 p.a. and a couple gets £306.85 per week i.e.£15,956.20 p.a. If you only have an income of £9,200 you are eligible for Pension Credit which brings other benefits as well.

Pension credit applies to us oldies only if we haven't got other pensions on top of the state pittance.  Younger pensioners, retiring after 2016, get over £11k without means testing. 

Klondike has it right. Of course those with no other income will still get housing and council tax benefits. 

[Diasi]

Not sure where your figures come from. Pension Credit ensures that a single person gets £201.05 per week i.e. £10,454.60 p.a. and a couple gets £306.85 per week i.e.£15,956.20 p.a. If you only have an income of £9,200 you are eligible for Pension Credit which brings other benefits as well.

Well where do you think they came from?

But even if you did have the brains to work it out it still wouldn't stop you spouting utter garbage since Pension Credit is not part of the State Pension.

[peterv6153]

But even you did have the brains to work them out it still wouldn't stop you spouting utter garbage.

Sorry, not sure what you mean, please explain

[Diasi]

Sorry, not sure what you mean, please explain

Well what do you think I mean?

[klondike]

I was looking at the Pension Credit rules and it seems that nobody retiring after sometime in 2019 can claim that as it has been replaced by universal credit. Those already claiming won't be moved over though. I thought I'd read somewhere that getting any for those receiving the new state pension is on a knife edge but I didn't see that spelled out and am not sufficiently interested to look.

I have always been too poor to benefit directly from Tory policies and too rich for Labour's. Of course Labour's traditional policy of trashing the economy makes everybody poorer but now the Tories appear to have stolen that one.

[peterv6153]

I have no idea.

I made factual statement. No on needs to live on a basic state pension. Every pensioner should receive a minimum of £10,454.60 if single or £15,956.20 if a couple, of total income. That is a fact.

August 16, 2023, 12:27:11 PM
To claim Universal Credit you have to be under State Pension age.

[klondike]

What Phil is saying is that the two are unrelated.

Yes those on less than the minimum where Pension Credit or now Universal Credit can be claimed will get a top up.

Older pensioners who can't claim any extra are worse off than those on the new state pension by £2k and ever rising as pension rises are percentages not fixed sums.

[Diasi]

I was looking at the Pension Credit rules and it seems that nobody retiring after sometime in 2019 can claim that as it has been replaced by universal credit. Those already claiming won't be moved over though. I thought I'd read somewhere that getting any for those receiving the new state pension is on a knife edge but I didn't see that spelled out and am not sufficiently interested to look.

I have always been too poor to benefit directly from Tory policies and too rich for Labour's. Of course Labour's traditional policy of trashing the economy makes everybody poorer but now the Tories appear to have stolen that one.

Yes you're correct, the main aim was to save the money it costs to operate the Pension Credit non-contributory benefit system alongside the contributory State Pension.

Also some of the money to pay for the New State Pension came from New Labour's decision to remove the State Pension adult dependent allowance in April 2010, which cost those of who got married after April 2010 £50 a week.

Your last paragraph applies to me too, plus I've always managed to just be on the wrong side of cut-off dates for changes. 

[klondike]

To claim Universal Credit you have to be under State Pension age.

https://www.citizensadvice.org.uk/benefits/help-if-on-a-low-income/pension-credit/before-you-claim-pension-credit/check-if-you-can-get-pension-credit/

Yes I misread. If one of a couple is under pension age this applies but not otherwise. I missed the initial if

If you're over State Pension age but your partner isn't
If you're already getting Pension Credit, you'll keep getting it unless your circumstances change.

You can't usually make a new claim for Pension Credit.

You can still make a new claim for Pension Credit if both of the following apply:

you reached State Pension age before 15 May 2019
you've been claiming Housing Benefit since before 15 May 2019
Otherwise you'll usually need to claim Universal Credit instead - check if you're eligible for Universal Credit.