‘Old folk have no chance’ – Fury mounts over basic state pension

State pension: Carole Malone criticises rate for OAPs

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Chancellor Jeremy Hunt’s move to implement the state pension triple lock and give everyone a 10.1 percent increase from April has failed to quell pensioner frustration. Many feel unfairly treated and have been pouring out their hearts to Express.co.uk.

There are now two state pensions, and which one you receive will depend purely on the date you retired.

The new state pension was introduced for those retiring from April 6, 2016, and was designed to simplify the system.

It rolled basic state pension, State Second Pension (S2P) and state earnings-related pension scheme (Serps) entitlement into a single payment.

From April, it will pay £10,600.20 a year to those who made the maximum 35 years of National Insurance contributions.

The old state pension, paid to those who retired before April 6, 2016, will pay just £8,121.20, a staggering £2,479 a year less.

Those who built up entitlement to S2P and Serps during their working lifetimes will get more pension on top of that.

However, many do not have any additional state pension, and will receive a pittance as a result (although they may claim pension credit).

The two-tier system was introduced more than six years ago but remains a live issue for millions who feel helpless and abandoned.

Reader jandevon said. “You can bet basic pensioners feel hard done by. We are treated like 2nd class citizens.”

Jandevon pointed out that many on the basic state pension actually made far more NI contributions.

Before 2010, to get the full basic state pension men needed to pay NI for 44 years and women for 39 years.

That was cut to 30 years for the final six years of the old scheme.

Many pensioners on the old basic state pension will be frustrated to see headlines suggesting they will be getting £10,600 a year, when in practice they won’t.

Irvin Carl Jackson wrote: “State pensions should all be the same whether you’re a woman, old generation pensioner or a young pensioner. Absolutely disgrace.”

READ MORE: State pension to hit £10,600 but older pensioners get £2,500 less

Reader mugginsnumberone said: “Some will say older folk need more money to get by. Definitely not less.”

Many Express.co.uk readers pointed out that the gap between the two pensions will only widen over time. Both rise by the same percentage each year, but the basic state pension has a lower starting point.

Fed-up from London said it is “ridiculous” that an older pensioner gets less money every week than a younger one. “Old folk don’t stand a chance.”

Many railed at the sheer complexity of the system, including diactivated. “Why do they have to make everything so complicated? Just give every pensioner the same amount.”

Reader lilyswan agreed, adding: “Cost of living and energy hikes affect all, regardless of when they retired. Price increases don’t depend on age.”

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However, reader mableone, who retired in 2009 on the old state pension after 50 years at work, said headline figures are “misleading” because many on the basic state pension get Serps on top.

Mableone wrote: “As Serps increases in line with inflation, my old state pension plus Serps will rise to £11,300 a year.”

That is true for some but offers little consolation for those who do not get S2P and Serps. Women living on the old state pension are particularly hard hit, as they often gave up work to raise a family, so made fewer NI contributions.

Many expected to live on their husband’s pensions at retirement only to see their hopes dashed by death or divorce

Reader Porter held out little hope of government action. “They are just waiting for us oldies to kick the bucket then it won’t be a problem anymore.”

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