Deleted
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Post by Deleted on Jan 21, 2022 14:02:26 GMT 1
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Post by houpla on Jan 21, 2022 14:21:21 GMT 1
At least you're getting yours, hvm. The UK government robbed me of 7 years-worth of mine. B****s!
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Post by another on Jan 21, 2022 20:33:29 GMT 1
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Deleted
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Post by Deleted on Jan 21, 2022 20:43:10 GMT 1
The devil is in the detail.
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exile
Member
Massif Central
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Post by exile on Jan 21, 2022 23:34:31 GMT 1
Not sure how balanced their views are. To get to the true numbers, which they don't present, needs quite a few hard sums with data that in part is not easy to access. I do accept that the UK numbers are understated but I really doubt that adding in pension credit which goes a long way to balancing the numbers would bring an average UK pension up to a Spanish or French one. The free TV licence for over 75s (is that still valid?) ignores the free TV licence for French people on low incomes - including pensioners. All in all it is difficult to make the comparisons because of different systems and benefits, but I will say this. My 33 years of contributions to the UK system brings me a pension just about equal (depending on exchange rates) to my 9 years in the German system. Anyone who thinks the UK system is generous needs their heads examining. |
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ibis
Banned Member
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Post by ibis on Jan 21, 2022 23:41:03 GMT 1
My 401k ( started 1998) is pretty healthy and I would imagine way above those figures; even with a few heavy penalties for early withdrawals.
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Deleted
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Post by Deleted on Jan 21, 2022 23:54:02 GMT 1
There are some things money can't buy.
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exile
Member
Massif Central
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Post by exile on Jan 22, 2022 1:27:08 GMT 1
Well I just did the sums. A male living in England alone with just the UK state pension and with a small amount of money in the bank (£200) and savings (£500) will have his miserable UK pension increased by a monumental £36 some pence. That stillleaves the UK a long way behind other countries.
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Post by tim17 on Jan 22, 2022 8:30:55 GMT 1
Well I just did the sums. A male living in England alone with just the UK state pension and with a small amount of money in the bank (£200) and savings (£500) will have his miserable UK pension increased by a monumental £36 some pence. That stillleaves the UK a long way behind other countries. You'd have to assume that they'd also be a private pension as well surely? |
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exile
Member
Massif Central
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Post by exile on Jan 22, 2022 10:53:28 GMT 1
No, in the government assessment form it asks for all forms of income that you can think of and I set them all to zero except for the UK state pension.
Try it. Go to the government site for pension credits, go through the questionnaire - it's anonymous. See what result you get.
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Aardvark
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Living in soggy 22 and still wondering what's going on.
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Post by Aardvark on Jan 22, 2022 11:38:01 GMT 1
It appears quite common for people who dispute how hard it is to live on the basic state pension to have other sources of income like private pensions, shares, interest, rental income, etc. They would keep their traps firmly shut if they had only the state pension coming in. In my case I don't even get that but a reduced one because of lack of points built up. Living in France makes it possible for me to live reasonably well, stay well fed, run a car, own my own home, etc. which would be pretty much impossible if I had stayed in UK.
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Post by Polarengineer on Jan 22, 2022 11:47:28 GMT 1
One must not forget that it is (was?) possible to buy those missing years stamps to bring the pension up to a full payout. A couple of thousand for back contributions is returned in no time a good ROI.
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FFS
Member
As usual, in front of my laptop when I'm here
Posts: 2,797
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Post by FFS on Jan 22, 2022 11:56:00 GMT 1
One must not forget that it is (was?) possible to buy those missing years stamps to bring the pension up to a full payout. A couple of thousand for back contributions is returned in no time a good ROI. Easy to say if you have "a couple of thousand" available to buy the missing stamps: if not, you cut your cloth etc, always assuming you can afford the cloth. |
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Post by tim17 on Jan 22, 2022 12:21:02 GMT 1
Obviously everyone's personal circumstances are different.
In the UK it is possible to build up a decent private pension and have a full state pension so upon retirement you don't have to struggle but I fully accept that the UK state pension alone is not enough to live on even if you are a home owner and I also agree with Aardvark that it is easier to live here on a reduced income compared to the UK.
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Post by mangetout on Jan 22, 2022 15:15:38 GMT 1
I had my pension age changed from 60 to 66. In fact the first change was advised well in advance, the later 2 at what I consider short notice. On top of that my private pension has been taken in by the Pension Protection Fund, meaning that it will no longer be increased, which in effect means it will decrease every year. A kick in the teeth for us as my husband only gets a State Pension and my State Pension is small as I was in a final salary scheme meaning I was opted out. The best laid plans of mice and men .........
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