Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

Pension Credit Benefit's at 67


JREWING
 Share

Recommended Posts

Question.

Hit 67....State pension kicks in. You only qualify for 20 years NI state pension. As you only paid 20 years NI.

You have £9k in the bank so qualify for a top up. Pension Credit.

Relative to a private pension, what's this worth in monetary terms..

No council tax, free dentistry.

Also being 67, free bus travel, free prescriptions, winter fuel allowance. No TV licence required.

Some big financial benefits being old and under the means tested allowance.

Compared to a non retired person. All these freebies must be worth at least £2k a year if you qualify for pension credit...

Link to comment
Share on other sites

7 hours ago, Panda said:

Question.

Hit 67....State pension kicks in. You only qualify for 20 years NI state pension. As you only paid 20 years NI.

You have £9k in the bank so qualify for a top up. Pension Credit.

Relative to a private pension, what's this worth in monetary terms..

No council tax, free dentistry.

Also being 67, free bus travel, free prescriptions, winter fuel allowance. No TV licence required.

Some big financial benefits being old and under the means tested allowance.

Compared to a non retired person. All these freebies must be worth at least £2k a year if you qualify for pension credit...

The free travel in OAP in London is worth ~7k/y

If you have a decent- say hourly - bus to nearby towns - like my mum does, and shes pretty rural, the free bus pass is worth 5k alone - free travel plus no car.

Its been a factor in a c few OAPs staying in London rather than pissing off to Devon or somewhere.

Great. Slowly filling up the most expensive pale i nthe UK with freeloader after freeloader, all requiring more n more expensive support staff.

 

 

Link to comment
Share on other sites

The rules have just changed on Pension Credit for couples.When Brown brought it in you could claim once the first person hit 65 (or 67) even if the other partner was 25.Now you cant until both people are over pension age,instead you can only clam Universal Credit,and for a couple thats around £125 a week and less than a single pension,so they will get jack shit.

The new state pension is just above Pension Credit level as well,so it means someone with 35 years NI is certain to be just over the limit to claim.

Edited by DurhamBorn
Link to comment
Share on other sites

5 minutes ago, DurhamBorn said:

The rules have just changed on Pension Credit for couples.When Brown brought it in you could claim once the first person hit 65 (or 67) even if the other partner was 25.Now you cant until both people are over pension age,instead you can only clam Universal Credit,and for a couple thats around £125 a week and less than a single pension,so they will get jack shit.

The new state pension is just above Pension Credit level as well,so it means someone with 35 years NI is certain to be just over the limit to claim.

So you can’t spend the last of your savings on a mail order Thai bride that’s younger than your children?

Link to comment
Share on other sites

1 hour ago, spygirl said:

The free travel in OAP in London is worth ~7k/y

If you have a decent- say hourly - bus to nearby towns - like my mum does, and shes pretty rural, the free bus pass is worth 5k alone - free travel plus no car.

Its been a factor in a c few OAPs staying in London rather than pissing off to Devon or somewhere.

Great. Slowly filling up the most expensive pale i nthe UK with freeloader after freeloader, all requiring more n more expensive support staff.

 

 

You can still get free travel in London from the age of 60. TfL have no money apparently. So increase the age!

Link to comment
Share on other sites

38 minutes ago, DurhamBorn said:

The new state pension is just above Pension Credit level as well,so it means someone with 35 years NI is certain to be just over the limit to claim.

What happens if you retire having below 35 years NI. Would you then just get Pension credit and the benefits that come with it ie no Council Tax. 

Link to comment
Share on other sites

32 minutes ago, Agent ZigZag said:

What happens if you retire having below 35 years NI. Would you then just get Pension credit and the benefits that come with it ie no Council Tax. 

Can't see that being possible or if it's a loophole it staying open for long, as people would just stop worrying about the qualifying years if part-time or self-employed, so only those in full time work chasing a 'career' would be going over 35 years automatically.

Though if they want to ensure no-one gets left behind in pension poverty maybe there is that pension credit loophole for those of us not bothered with the rat-race so pay class 2 NI contributions at the most (unless profitable beyond the tax thresholds to trigger class 4 as well). B|

Link to comment
Share on other sites

49 minutes ago, Agent ZigZag said:

What happens if you retire having below 35 years NI. Would you then just get Pension credit and the benefits that come with it ie no Council Tax. 

Yes,but it wont make any difference as £1 less pension would mean £1 Pension credit.Council tax is means tested off income so you still get 100% council tax benefit if you get basic state pension anyway and then its means tested away.Same as housing benefit,100% at state pension level,means tested away above that.

In affect the government have put the new pension at the level where means testing removes housing benefit and council tax benefit,so any other savings or pension income will be means tested.Someone in the new company pension auto enrole will see their first £100 of pension means tested to £20 if they claim housing benefit and council tax.

It should be noted though that rules on over 65s are changing on housing benefit on new tenancies,where you will only get the rate for a 1 bed place if your single or a couple.The government has tightened things quite a bit for new pensioners,more than they have for "stay at home mummy" types.

Link to comment
Share on other sites

Democorruptcy
3 hours ago, DurhamBorn said:

The rules have just changed on Pension Credit for couples.When Brown brought it in you could claim once the first person hit 65 (or 67) even if the other partner was 25.Now you cant until both people are over pension age,instead you can only clam Universal Credit,and for a couple thats around £125 a week and less than a single pension,so they will get jack shit.

The new state pension is just above Pension Credit level as well,so it means someone with 35 years NI is certain to be just over the limit to claim.

I think that 35 years is certain to go up.

It was 40 then crash Gordon dropped it to 30. Osbanker put it back up to 35. Back up to 40 soon.

Link to comment
Share on other sites

1 hour ago, Democorruptcy said:

I think that 35 years is certain to go up.

It was 40 then crash Gordon dropped it to 30. Osbanker put it back up to 35. Back up to 40 soon.

Yeah its one reason why im going to keep claiming the free years NI for looking after grandkids,specified adult childcare credit xD ,i dont trust them not to put it back to 40 so might as well have them just in case.

  • Agree 2
  • Informative 1
Link to comment
Share on other sites

21 minutes ago, DurhamBorn said:

Yeah its one reason why im going to keep claiming the free years NI for looking after grandkids,specified adult childcare credit xD ,i dont trust them not to put it back to 40 so might as well have them just in case.

But surely if you have no other income They just top it up. Whether 20 or any amount of years as long as you've paid over 10 years

Link to comment
Share on other sites

46 minutes ago, Panda said:

But surely if you have no other income They just top it up. Whether 20 or any amount of years as long as you've paid over 10 years

Top it up with means tested pension credit if you have nothing,but then only when both parts of a couple are over 67.If one is under its Universal credit and thats £125 a week for a couple.

Link to comment
Share on other sites

I'm thinking that the perverse incentives to be single are deliberate. Divide and conquer.

Over the years, I've known of at least 10 flats that were theoretically occupied by a guy who was actually living with a (not so) single mother.

  • Agree 1
Link to comment
Share on other sites

crashmonitor
On 26/02/2020 at 23:19, Panda said:

Question.

Hit 67....State pension kicks in. You only qualify for 20 years NI state pension. As you only paid 20 years NI.

You have £9k in the bank so qualify for a top up. Pension Credit.

Relative to a private pension, what's this worth in monetary terms..

No council tax, free dentistry.

Also being 67, free bus travel, free prescriptions, winter fuel allowance. No TV licence required.

Some big financial benefits being old and under the means tested allowance.

Compared to a non retired person. All these freebies must be worth at least £2k a year if you qualify for pension credit...

That will be most of the migrant workforce when they get to 67. One assumes these liabilities will outweigh any short term benefits. Meanwhile, one assumes if we emigrate and do 20 years in a foreign country we are not going to be looked after by the host at 67.

  • Agree 1
Link to comment
Share on other sites

On 27/02/2020 at 08:47, Agent ZigZag said:

What happens if you retire having below 35 years NI. Would you then just get Pension credit and the benefits that come with it ie no Council Tax. 

Yip , no pension or savings full PC and the add ons 

Happens all the time with people who have worked cash in hand their whole life 

Link to comment
Share on other sites

Agent ZigZag

If you are a homeowner I consider that in the future Councils will be given the authority to view your house as a financial asset and will take that into account when assessing Pension credit.  They will give you all the benefits upfront but place a charge against your house until you die. Lets say a different form of equity release. 

  • Agree 8
Link to comment
Share on other sites

3 hours ago, Agent ZigZag said:

If you are a homeowner I consider that in the future Councils will be given the authority to view your house as a financial asset and will take that into account when assessing Pension credit.  They will give you all the benefits upfront but place a charge against your house until you die. Lets say a different form of equity release. 

I've been saying this for years.  Its why if you buy a crazy overpriced house and have no savings you have access to bennies.  They'll be taking it back later.. 

  • Agree 1
Link to comment
Share on other sites

Agent ZigZag

Or you could do what I do and register for single occupancy and get a 25% reduction. on your Council Tax. Just make sure your not married and payments are made in your partners name. Every little penny helps

Link to comment
Share on other sites

On 04/03/2020 at 14:47, Agent ZigZag said:

If you are a homeowner I consider that in the future Councils will be given the authority to view your house as a financial asset and will take that into account when assessing Pension credit.  They will give you all the benefits upfront but place a charge against your house until you die. Lets say a different form of equity release. 

As someone with no kids I'd be quite happy with some form of State equity release as long as it's a better deal than anything currently on offer from the private sector.

Link to comment
Share on other sites

Democorruptcy
56 minutes ago, Royston said:

As someone with no kids I'd be quite happy with some form of State equity release as long as it's a better deal than anything currently on offer from the private sector.

Governbankments allow corporations etc to pay little tax and funnel our taxes to banks/builders. At the same time as upping our pension age, and making us pay more other taxes like VAT etc.  Why should you also pay your house to them as well? Go get a pitchfork instead! xD

Link to comment
Share on other sites

8 hours ago, Democorruptcy said:

Governbankments allow corporations etc to pay little tax and funnel our taxes to banks/builders. At the same time as upping our pension age, and making us pay more other taxes like VAT etc.  Why should you also pay your house to them as well? Go get a pitchfork instead! xD

I don't disagree with any of that (apart from the pitchforking, I'm far too lazy lazy and apathetic for any of that!)

But still the fact remains I've no younger relatives in need of inheriting my house and there's no one I like enough to want to leave it to them, so at the end of the day it's either some form of equity release or the local dogs home!

Link to comment
Share on other sites

Democorruptcy
8 minutes ago, Royston said:

I don't disagree with any of that (apart from the pitchforking, I'm far too lazy lazy and apathetic for any of that!)

But still the fact remains I've no younger relatives in need of inheriting my house and there's no one I like enough to want to leave it to them, so at the end of the day it's either some form of equity release or the local dogs home!

I still think the governbankment should look after you instead of misappropriating so much of your taxes, they have to take your house instead. Can I just take this opportunity to say I've always liked you. 

Link to comment
Share on other sites

9 hours ago, Democorruptcy said:

Governbankments allow corporations etc to pay little tax and funnel our taxes to banks/builders. At the same time as upping our pension age, and making us pay more other taxes like VAT etc.  Why should you also pay your house to them as well? Go get a pitchfork instead! xD

No one will ever do this. The scoundrel rabble are completely in bondage now. They would attack each other for the scraps before they had the intellectual capacity to identify - let alone confront - their true enemy. I’m convinced the corona bollocks is just a dry run. As soon as AI is ready to replace the 99% then it will be goodnight Vienna. I would never have kids so I can’t say I’m all that bothered. The masses of scoundrels brought it on themselves. The strongest and most intelligent (global elite) won.

  • Agree 2
Link to comment
Share on other sites

1 hour ago, Royston said:

I don't disagree with any of that (apart from the pitchforking, I'm far too lazy lazy and apathetic for any of that!)

But still the fact remains I've no younger relatives in need of inheriting my house and there's no one I like enough to want to leave it to them, so at the end of the day it's either some form of equity release or the local dogs home!

:Jumping:

Link to comment
Share on other sites

Wight Flight
6 hours ago, Royston said:

I don't disagree with any of that (apart from the pitchforking, I'm far too lazy lazy and apathetic for any of that!)

But still the fact remains I've no younger relatives in need of inheriting my house and there's no one I like enough to want to leave it to them, so at the end of the day it's either some form of equity release or the local dogs home!

I've always respected you as one of our finest members 😁

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...