New state pension 'at least £155' ($240 Au or $248 US)
The idea of a flat-rate state pension has been discussed for some months
Plans to reform the state pension will be unveiled next week - with a new flat-rate scheme to start in 2015 or 2016, the BBC understands.
The flat-rate pension could be worth at least £155 for new pensioners.
Detailed plans are expected to be published next week, outlining how the system would be introduced.
The current full state pension is £97.65 a week for men and women, but is topped up to ensure a minimum income of £132.60.
The current minimum income guarantee also ensures couples get £202.40 a week through the means-tested pensions credit.
"It is assumed that inflation-linked increases will take the means tested guarantee up to around £155 by the middle years of this decade," said the BBC's chief economics correspondent, Hugh Pym.
"The government may decide to bring in the new single pension at a slightly higher level."
This would also be higher than the figure of £140 a week previously mooted by the government.
http://www.bbc.co.uk/news/business-12924666
Pension me off
Pension me off
“If you trust in yourself, and believe in your dreams, and follow your star. . . you'll still get beaten by people who spent their time working hard and learning things and weren't so lazy.”
Re: Pension me off
You can be bought for a thousand bucks a month?
Seems rather modest to me. What is the minimum age when one can start to cash in?
Seems rather modest to me. What is the minimum age when one can start to cash in?
Re: Pension me off
Darling? I agree 100% with dgs49. That appears to be an extremely paltry amount for a pension. Certainly not something I would look forward to retiring on.
You do realize younwill be getting more than a months worth of UK pension a week on your superannuation when you retire here?
You do realize younwill be getting more than a months worth of UK pension a week on your superannuation when you retire here?
Bah!
Re: Pension me off
I can be bought a damn sight cheaper than that dgs, depends who is buying though 
So what is the universal pension that each citizen of Aus/USA/Cananda wil receive on retiring then?
And what age does it start from?
So what is the universal pension that each citizen of Aus/USA/Cananda wil receive on retiring then?
And what age does it start from?
“If you trust in yourself, and believe in your dreams, and follow your star. . . you'll still get beaten by people who spent their time working hard and learning things and weren't so lazy.”
Re: Pension me off
OK. The pension rates for Aus are as follows. (These are fortnightly rates.)
Single person: $670.90*
Couple: $505.70* each
* The above payments do NOT include the Pension Supplement amount which is currently a maximum of $58.40 a fortnight for singles and $88.00 a fortnight for couples (combined).
However, we won't be on a pension ad we will have funded our retirement nicely with our Super fund.
Single person: $670.90*
Couple: $505.70* each
* The above payments do NOT include the Pension Supplement amount which is currently a maximum of $58.40 a fortnight for singles and $88.00 a fortnight for couples (combined).
However, we won't be on a pension ad we will have funded our retirement nicely with our Super fund.
Bah!