Talk Morgan Forums Community The Malvern Arms Good news from the DWP

Yesterday I got a letter from DWP telling me that as I had survived to a ripe old age, (despite 24 years of dealing with thugs and drug dealers 🤣)I was now entitled to an increased state pension. WHOOPEE. From your next birthday in July we are increasing your pension by 25 pence a week !!! WOW that should help with the inflated price of food and power. I think I will save the £13 per year and invest it wisely so that I don't become a burden on the state.

Well I got £30-41 weekly increase back in March this year, I don't get the full State anyway as I had two other Private Company Pensions.

Unless you got a significant increase back then I'd shout a bit, sounds like a small review to me that will have cost us far more to implement than it's worth in true Civil Service tradition.

I don't think your private pensions should affect your right to a full state pension....

Well it definitely did Nick, I still have the letter I'll dig it out. Quote - COPE agreement "This will be paid as part of your workplace or personal pension schemes. It will be paid by your workplace or personal pension schemes, in addition to your State Pension as above".

I remember it clearly as my wife who has spent most of her life being a full time Mum to our three youngsters and the rest doing work of a voluntary nature would have received very little State Pension. This being the case we bought years back when offered by DHSS, she now receives a full pension and me a reduced one much to my amusement and that's £100 a month more she gets

The sum we had to consider to get her up to a full State Pension was 7k so we gambled that she had to live 5 years to recoup the outlay we joked at the time.
As most of my forward planning is based on protecting her into the future financially (if I conk out before her) this was a very good offer from DWP as unlike my private one's which will provide her with half of the sum we receive at present her State one remains unchanged.

Yes, same here. I don't get the full state pension due to being contracted out into private schemes for part of my working life. An irritating little fact that I wasn't aware of until the time came.

I am using part of that to buy NI contributions for my wife so that she will get a full pension when the time comes.

Gosh. Everyday a learning day. I had no idea it was possible to opt out of NI for pension contributions (or however it's phrased).
Thanks very much for explaining it to me.
Nick

Yes Ian I was surprised about the reduction in my State pension, I first became aware of it when I wrote off to DWP for an estimate of my pension so all a bit stealthy as far as I'm concerned.

Buying back your wife's contributions is a good move I agree.

You are welcome Nick, as you say every day is a school day for the listening

I get the max state pension as I took it out after 2016. I was opted out so in theory should get a bigger state pension.

I had to take my elementis pension at 62 as a senior manager but they cut it by £1.2 k at 66 as the DWP should be paying more than the max from 66. But of course HM Gov changed the state rules so I can only get the max not £1.2k more.

I expect whoever gets in will find new & novel ways to screw us.

True, Stammer has already fired warning shots in our direction