Living Wage

[maggiebee]

“The government minimum wage (for over 25s) so that people can live reasonably is £8.72 an hour x 36hrs equals £314.00 x 4 weeks equals £1,256.00 per month x 12 months equals £15070.00 per year.

Why is it that pensioners who have paid half a century’s worth of tax and N.I. are given £8840.00 to live on “comfortably”. What a disgrace it makes me sick pensioners are getting nearly half of the minimum wage.”

[davebro]

It's more like £7500 if you retired before the "new" pension rate was introduced (I find it difficult to see the justification for the difference!).
However if your only income is the OAP you can probably claim other benefits.

[SIRandyraven]

I presume the government thinks that living expenses are less when you are at pension age (66?).
I’m now retired (57) and I must admit my outgoings are now less than when I was in my 30’s.

The state pension is one of the lowest in Europe , yet we are the 5th largest economy in the world.
Funding a free health service for the world isn’t cheap and uses a large chunk of taxation collected.

When I was last working in the uk (2016) as an IT professional I was on £69,500 a year + 10% annual bonus when I took redundancy and retired.
I now say I can live on £20,000 a year easily.
Could I live on state pension?
It would be a struggle and I don’t think I could.
Our council tax is £2,550 a year (madness) and on a state pension that would be a large chunk of income gone paying that.

Pensioners need to be more vocal and unite to put pressure on government to increase state pensions.
This year is an example of where pensions would have gone up 8% plus , yet the government cancelled the triple lock with little resistance.

[pastafreak]

On state pension one of the "benefits" is that your income is so low that you don't need to pay council tax.

[naomi24]

Pensioners without considerable savings get a lot of top ups and other benefits so it's not true to say they're given £8840 to live on.

[anneasquith]

What are these’ lots of top ups’ ?

[barry1010]

anne, pension credit, housing benefit, council tax reduction, help with mortgage costs, help with dental care, glasses and hospital transport costs, help with heating costs.

[ladybirder]

The pedant in me can't stay quiet. Sorry but there are 365 days in a year = 52.14 weeks. Except for a Leap Year of course.

[barry1010]

https://www.gov.uk/pension-credit/what-youll-get

[naomi24]

barry ... not to mention travel passes.... but I'm sure anneasquith knows all that.

[goodgoalie]

If you live in London and are over 60 you get free travel on buses, tube, Docklands Light Railway and London Overground. What a shame I don't live there anymore!

https://tfl.gov.uk/fares/free-and-discounted-travel/60-plus-oyster-photocard

[anneasquith]

Thank you gg. That list list should be helpful to anyone on a basic pension , problem is not all people know how to access these benefits.

[pastafreak]

Pension credit just takes you up to the current full state pension...it fills any gaps.
Help with heating...is that the £200 we get? A drop in the bucket with energy prices going up.

[Kardashev]

I'm on much more than that. maggiebee.

[ToraToraTora]

well if that's all you have to live on maggie I assume you've done nothing to provide for yourself in retirement.

[barry1010]

No, Pasta - it's the Warm Home Discount Scheme that gives an extra £140 off the electric bill if you are in receipt of the guarantee credit element of pension credit. It is paid directly to your energy supplier and comes off your bill.

[douglas9401]

Come on pensioners, stop moaning and gather up all your benefits.

Clearly the world is your lobster.

[pastafreak]

Barry...thanks for reminding me about that. I checked into it earlier in the year, but missed the cut off for applying/notifying my supplier.

[pastafreak]

I've just checked with my supplier...letters are sent out to those in receipt of pension credit.
So that's something to be aware of for anyone who wants or needs to take advantage of it.

https://www.gov.uk/the-warm-home-discount-scheme

[naomi24]

A lot of pensioners use their £200 for things other than heating. It's more of a Christmas bonus to them. In fairness, though, if bills are rising no one else will get extra to help pay them. People at work have to adjust their budget and there's no reason pensioners shouldn't expect to do likewise.

[bednobs]

thought you wanted to put pensioners in prison maggie?