Certainly rail fare increases are still based on RPI, as are some final salary schemes-my old one has it written into the scheme rules, and it would take a members' vote to change it. Outside this sort of situation there certainly should be some consistency if CPI or RPI should be the measure, which is a different debate but CPI is the common measure nowadays internationally.CPI is a less generous measure compared to RPI.
That's why pensions go up by CPI but your broadband goes up by RPI plus something on top.
Last I heard MPs' pensions were still on RPI. Fancy that!
And if you do that you get no state pension.
If you're registered on the Govt site, I think all you then need is your login, password and NI number.I tried checking what pension i am due on the gov website but they wanted my live capture, photo of my drivers licence , what i had for breakfast and a smear test , i gave up , will be a surprise i guess
I will try that , taIf you're registered on the Govt site, I think all you then need is your login, password and NI number.
I think you have to have paid NI for 10 years to get a pension. But this is one reason why NI is so important to keep. If you have worked all your life and paid NI, there is a genuine psychological link to what you've paid in and what you get out. If NI is abolished that link disappears and so it makes it easier in the long run to means test the state pension. There's an interesting book called the DEFICIT MYTH that is worth a read if you're interested in this sort of stuff.And if you do that you get no state pension.
And if you do that you get no state pension.
You would expect that like any private scheme.And if you do that you get no state pension.
Thanks for that observation.You really need to read up about SERPS, private pensions, benefits accrued etc before embarrassing yourself further.
Oh, and you can only get a state pension of any sorts after ten full years NI contributions, and a full one only after 35 years full NI contributions.
Comfortably smug.You would expect that like any private scheme.
For some it allows them to concentrate on the benefits system with their stamp paid whilst hunting for a job.
All that haste though having to go to a Job Centre every so often.
I preferred to work and paid my NI. Now I am retired it is. my objective to maximize the time I have to live to get some of my own money back.
Not really, just trying to understand why my basic math's worked last year at 10.1 percent increase for it all whereas this year with the same mix of pensions the 8.5 percent is not working.Comfortably smug.
Thats the problem though, it is only a psychological link not an actual one. I dont suggest we get rid of NI and there still should be a fixed number of qualifying years, but why should you stop paying NI when withdrawing from a pension, as Im sure we can all agree it pays for more than just pensions.I think you have to have paid NI for 10 years to get a pension. But this is one reason why NI is so important to keep. If you have worked all your life and paid NI, there is a genuine psychological link to what you've paid in and what you get out. If NI is abolished that link disappears and so it makes it easier in the long run to means test the state pension. There's an interesting book called the DEFICIT MYTH that is worth a read if you're interested in this sort of stuff.