MORE AND MORE LOSSES FOUND ON FLAT RATE PENSION FROM APRIL 2016
The Flat Rate Pension from April 2016 leaves behind forever current pensioners, who lost from 2013 their additional tax allowance from 65, just when the richest 300,000 gained a 5% cut in Income Tax.
REACH 80 - LOSE STATE PENSION - NO OTHER INCOME
Those reaching 80 after April 2016, will not longer get the Category D pension of £66 per week.
This when they will have no other source of income and at a time when it will be mostly women, who tend to live longer than men, and will have also lost gaining 60 per cent of husband's NI contribution history state pension and lost the right to inherit their husband's state pension.
So it is official then.
No state pension, no income from husband, so women aged 80 are airbrushed out of any income.
LOSS OF PENSION CREDIT, STATE EARNING-RELATED PENSION SCHEME (SERPs) AND STATE SECOND PENSION(S2P) AFTER APRIL 2016 UNDER THE FLAT RATE PENSIONYou can remain in work and still draw your state pension.
So the raise in retirement age at a time when chronic sick and disabled benefits are being lost, and sanctions on unemployment benefit more and more, then the state pension gained will be less and less.
As the working poor include a lot of men and women 60 and over, this is a lot of money to lose, when low wages have flat-lined back down to 2002 levels.
BUDGET MADE NO MENTION OF POOREST PENSIONERSMen and women below the squeezed middle already retired will see discrimination as about 30 per cent new claimants under the Flat Rate Pension get more state pension.
This despite that some current pensioners have far, far more than 35 years NI contribution history.
But as SERPs, S2P and Pension Credit end form April 2016, everyone will be short-changed.
Except women MPs who keep their pension age payout at 60 when within ten years of that age.
WHAT WOULD THE SWANS DO DIFFERENTLY?I had to laugh out loud (LOL) when I read a local newspaper letter than UKIP is the party of the working class, when it jumped up and down in rage just as much as government, when the Council of Europe said UK was in breach of international treaty law and under the Social Charter, in its low basic state pension of between £102-£110 per week, and it should be £138.
- Full state pension at 60 of £15,000 from 2015 for citizens irrespective of NI credit history, and even if decide to continue in work past retirement age.
- Tax allowance at 60 of £15,500
- Winter Fuel Allowance from 60 of £500
- Winter Fuel Allowance from age 80 of £600
- Within first parliament end Income Tax and National Insurance (saving poorest 20 per cent tax plus 12 per cent National Insurance - a tax rate of 32 per cent)
- End employer's National Insurance
- Minimum Wage is Living Wage, for all ages and men and women equally.
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