Pension Changes 2015/2016

[essexmat]

Hi all. I have been reading up on the proposed pension changes in 2015/16 and am slightly concerned about my parents.

 

 

They are both 68 years old and my Father gets £190.00p/w pension which is including pension credits and my Mother gets £26.00p/w as she never paid any contributions and worked cash in hand (regrets it now)

 

 

Will they be affected as in my Fathers will drop to the new rate of £148.80 (I think) meaning a drop of £41.00ish and £164.00p/m?!

 

 

Although they get carers, DLA and housing benefit they just about get by so a significant drop like this will put them right in the mire, or, will it balance out so they do not lose out as a couple?

 

 

I really am quite concerned about this so any pensions people that understand this more than I do I would appreciate any input.

 

 

Thanks

[honeybee13]

Hello there.

 

Do you have a link to these particular changes please?

 

HB

[essexmat]

https://www.gov.uk/new-state-pension/overview

 

 

I could be misinterpreting things or simply not understanding them. Mostly concerned that my Fathers will drop from 190 to 148 and my Mothers stays the same thus losing around 168 a month

[honeybee13]

Thank you.

 

Just to check, will your parents reach State pension age on or after 6th April 2016 then?

 

HB

[essexmat]

They already receive pension/pension credit. They were both born in 1946

[Nystagmite]

I think this only affects those who would be eligible for their pension in 2016. People on the current system, (IE, your parents) aren't affected.

[antone]

Correct - the new system affects only new pensioners. Nobody currently in receipt of the SRP will lose money.

[essexmat]

Thanks all, sorry for the delay, been out most of the morning. That is good to know, so in fact due to their ages there is no change at all. Relief to them I am sure!

 

On another positive note just had some good news, my landlord has extended my lease for another 24 months with no rent increase. Now I just need a well paid job andI am more settled!

[Old Cogger]

his pension reflects SERPS added to pension like a lot of us, have been told makes no difference as serps was an add on during working life if not opted out so entitled