New OAP pension rates.

[Workingman]

I have just received the new rates for the coming year. My pension will be £230.26 per week equal to £11,963 per year after tax. I pay tax because my military pension and some minor work pensions take me over the tax free allowance of £12,570.

Those on basic pension will get £177.44 per week but they can, and should, claim pension credits.

I am not comparing because if we all budget responsibly we will not be "poor" in the real sense, However, what bugs me is that the government and DWP officially describe the OAP as a benefit. It is not! Most of us paid in to the scheme for all our working lives through national insurance. The OAP is effectively like any other occupational pension but run by the State.

[cromwell]

Yes, this needs watching.
I start to get twitchy when the state pension is referred to as a benefit; especially so when in the next breath there is talk of means testing it.

[Kaz]

I get mine in 6 weeks!. I've had the letter informing me of the amount, it's £11.5k pa, £884 per 4 week period.

[Workingman]

That's the old rate for a full pension, Kaz. Your letter might be out of date. The new rate is £230.25 or £921 per 4 week period. Do check just in case.

When my letter arrive I checked the website and it has not been updated.

[saundra]

I wi just pay more rent and income tax won't benefit me
Glad you are finally getting it kaz

[Kaz]

Thanks Saundra, only 6 years late xxx

Frank, the letter was only a few weeks back.

[Workingman]

Frank, the letter was only a few weeks back.

So, it was issued under the old rules. Check it out for an update!

[Kaz]

Ok, thanks.

[Kaz]

Just spoke to 'is nibs! Seems you're right, the letter told me what I would get currently, so mine also goes up in April

[cruiser2]

I have not yetgota letter.

I thought Rachel from Accounts said pensioners would get £400 in April. But she did not say which April.

Any increase will be taxed so I will not receive the full amount. I get a pension from the firm I worked for as well as the
State Pension.