state pension rise

[hughnique]

Read this morning that after the scrapping of the WFA, that Rachel Reeve has announced a rise in the pension of about £450, presumably a year, whether it is true, and is it in addition to the normal yearly rise, who knows. But might there be a glimmer of hope that us outcasts will benefit from the WFA cut if it is to be lumped on to the pension, no doubt we will find out soon.

[exile]

Don't get your hopes up. The £450-ish is the normal yearly rise and will appear in April 2025.

[elsie]

See https://inews.co.uk/inews-lifestyle/mon ... il-3324227
The £450 was an estimate when the WFA announcement was made.
The final figures will be given in the 30 October budget.
According to the above, the estimate is now £473 for those receiving the full new state pension. Those receiving the old state pension will receive about £361.

[hughnique]

Remains to be seen then if there is some clause that prohibits the likes of us getting it, again discrimination against older people, do the recipients of the new state pension have bigger heating bills than us then?

[hughnique]

Having reread that Elsie it appears that Rachel Read has somewhat been misquoted or has put out bum info, I read that the WFA was being scrapped and an addition to the pension was approved, now it seems that she says that this is the triple lock award and says this amount will more than compensate for the loss of the WFA, absolute bullshit, this is due as the national yearly increase, not a means of compensating for the monetary loss incurred

[niemeyjt]

But surely in France you have no WFA to lose?

This year, the £460 increase is pegged to average wages which increased by 4%. I am not sure even Ms Reeves will dare to break that pledge.

see https://www.bbc.com/news/business-53082530

[Quiksilver]

But surely in France you have no WFA to lose?

You're right, and of all the crooked, shifty statistic-juggling arnaques that various UK governments have perpetrated, that one really took the sablé! It hasn't been forgotten, though, and never will be while there are elderly Brits still alive and living here struggling to pay their heating bills. It was also a real eye-opener as to how vulnerable pensioners living abroad are to the machinations of UK Gov. We're prime targets for underhanded cuts as they are popular measures with a certain section of the Great British Public. Sad but true...

[exile]

While we are on the subject of UK State pensions, does anyone understand the rationale behind the 2 level state pension?

Males born after April 6th 1951 get more than their older fellows if the number of contributing years is the same. For females the cut point is April 6th 1953. That difference being explained by the changes in when women were eligible for the state pension - age equality not having been fully achieved when this 2 tier system was brought in.

[exile]

I see the Express is now suggesting the increase could be £629pa based on the wage increase levels declared this week.

But it is the Express so don't spend it until there is official confirmation.

[hughnique]

While we are on the subject of UK State pensions, does anyone understand the rationale behind the 2 level state pension?

Definitely not, it appears that newbie pensioners are getting substantially more than us older gits, having paid in less than we did over the years. I still have the words of the man from the Pru ringing in my ears, when I transferred my Post Office pension to them. "You won't want for anything when you retire", nothing further from the truth, I was somewhat lucky that my brother in law was a big cog in the Prudential, and discovered it had been mis-sold to me, so they put another £12K in the pot, still works out at £100 a week, might have been OK 30 years ago, but as for wanting for nothing???