Winter Fuel Cut Savings Will Be Far Less Than Reeves Expected

[naomi24]

//a new analysis suggests that a surge in claims for pension credit since the cut was announced means that any savings could be significantly lower than the Treasury had anticipated. In just eight weeks, applications have increased by 152%.//

 

https://www.theguardian.com/politics/2024/sep/29/winter-fuel-cut-savings-will-be-far-less-than-reeves-expected-new-analysis-finds

 

 

That, together with the estimated extra cost to the NHS of £169 million has the potential of seeing Reeves score a devasting home goal. 

 

https://www.express.co.uk/news/politics/1954936/winter-fuel-payments-nhs

 

 

Has she done her sums - and if so, has she got them right?

[davebro3]

Whoever devised such a system or allowed to get into this state needs a swift kick in the wotsits! Damn savages.

[davebro3]

probably the idiot in chief Gordon Brown?

[THECORBYLOON]

This link from the Government website is a Pension Credit calculator and will give an estimate of what Pension Credit you might be entitled to.

https://www.gov.uk/pension-credit-calculator

[cashier]

It's never been £300/£400 each winter. It's £100 each if you are part of a couple or £200 if you are a single person.

[barry1010]

Single pensioners get:

£200 if you were born between 23 September 1944 and 22 September 1958

£300 if you were born before 23 September 1944

Couples get:

£200 if one or both of you were born between 23 September 1944 and 22 September 1958

£300 if one or both of you were born before 23 September 1944

 

[davebro3]

Wasn't it £200 each for a co-habiting couple (each qualifying) & £300 for one person qualifying?

[davebro3]

I was born in 1946 & got £300

[barry1010]

No, I've just posted the rates above.  £200 or £300 per household dependant on age 

[barry1010]

I assume you live alone, dave

[davebro3]

well they are wrong then...

[davebro3]

I do & my pensioner mate who lives with his younger partner also got £300.

[davebro3]

barry - are the rates you quote for THIS YEAR (which I won't be getting) rather than past years?

[barry1010]

This year.  How old is your mate's younger partner?

[davebro3]

59

[barry1010]

So your mate won't be getting it this year - he can't get pension credit because his partner isn't of pension age

[barry1010]

Last year's winter fuel allowance included an additional 'cost of living' payment, dave - which is why you got more than this year's allowance

[davebro3]

gotto repeat then "Whoever devised such a system or allowed to get into this state needs a swift kick in the wotsits! "

[New Judge]

“Really this is about the preposterous idea that someone can have £50k in savings and still apply for benefits!”

By your reasoning your outrage could really be applied to the entire State Pension payments, Auntypoll.

A person’s savings (and other financial matters) should not (and rightly does not) influence a person’s State Pension payments (which, in my view, includes the WFA).

Actually what’s more preposterous is that a person earning £50k  year will have to pay £2,993 in National Insurance contributions to be credited with a “qualifying year” (the number of those years determining his State Pension sum). Meanwhile  person earning just £6,396 pa but less than £12,584 (or even nothing at all in some circumstances) will pay absolutely nothing in NI contributions but will still be credited with the same “qualifying year”. Both will receive the same State Pension when such years are calculated.

I see the WFA as part of the “State Pension Package”. Lots of pension schemes have additional benefits and the government likes you to believe the State Pension is like a proper pension scheme, by insisting you qualify for its benefits. What it seems to overlook is that few proper pension schemes make payments to those who have made no contributions.

What should influence those payments is the amount of contributions made, but it doesn’t seem to work that way.

The only change that necessary is that the WFA should be added to the recipients' total income for tax purposes. 

[newmodarmy]

Auntpolly...where does your reference to savings of £50000 come from and how does it relate to this question?