{"id":9222,"date":"2013-01-21T04:00:04","date_gmt":"2013-01-20T21:00:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/letters-tories-flat-rate-pension-plan-will-end-in-tiers\/"},"modified":"2016-03-27T13:34:32","modified_gmt":"2016-03-27T06:34:32","slug":"letters-tories-flat-rate-pension-plan-will-end-in-tiers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/letters-tories-flat-rate-pension-plan-will-end-in-tiers\/","title":{"rendered":"Letters: Tories' flat-rate pension plan will end in tiers"},"content":{"rendered":"


\nBefore we all get carried away and congratulate Iain Duncan Smith and the Tories for their magnanimity (flat-rate pension of \u00a3144 per week from 2017) in introducing an increased state pension, let’s not forget that \u00a3144 is only \u00a31.30 more that than the current (2013) means-tested pension of \u00a3142 with pension credit (Duncan Smith’s flat-rate state pension branded a con-trick, 14 January). Let’s also remember that the pension-credit element of \u00a3142.70 was introduced by New Labour because it didn’t reintroduce (as it promised to do) the link to average wages rather than prices for the annual uprating of the basic state pension.Furthermore, this magnificent \u00a3144 from 2017 is probably less than what the basic state pension would have been had not Margaret Thatcher’s Conservative party made the abolition of this link, to average wage increases, one of the first things that they did in 1980, shortly after getting elected. We currently have, expressed as a percentage of a country’s median average wage\/salary, the second-lowest state pension in the EU. This in the incorrectly labelled fourth (or fifth) richest country in the world and the (so-called) second richest in the EU. Let’s not also forget that when the basic state pension, in its current format, was introduced in 1978, the NI contribution rate was 6% of relevant earnings between the lower and upper earnings limit. It is now 12%.A Schr\u00f6derUlverston, Cumbria Continue reading…
\n
\nSource : theguardian.com
\nRead more…Letters: Tories’ flat-rate pension plan will end in tiers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Before we all get carried away and congratulate Iain Duncan Smith and the Tories for...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-9222","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2oK","jetpack-related-posts":[{"id":53313,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/poorest-face-double-whammy-if-tories-ditch-triple-lock-on-pensions\/","url_meta":{"origin":9222,"position":0},"title":"Poorest face \u2018double whammy\u2019 if Tories ditch triple lock on pensions","date":"April 30, 2017","format":false,"excerpt":"\r Removal of minimum rise could push many into povertyPlans to ditch the triple lock on the basic state pension would represent a \u201cdouble whammy\u201d for the poorest pensioners, many of whom have already lost out under this month\u2019s new flat-rate pension, according to a leading pension expert.Pensioners who rely\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9214,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/single-tier-pension-qa-what-the-state-pension-changes-mean-to-you\/","url_meta":{"origin":9222,"position":1},"title":"Single-tier pension Q&A: what the state pension changes mean to you","date":"January 14, 2013","format":false,"excerpt":"\r The government has announced plans to simplify the state pension by introducing a single-tier system. Who are the winners and losers?The government has confirmed its plan to launch a single-tier state pension. The long-awaited changes will see everyone entitled to a standard rate of \u00a3144 a week in today's\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36304,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/state-pension-to-rise-by-2-5-in-april-2017\/","url_meta":{"origin":9222,"position":2},"title":"State pension to rise by 2.5% in April 2017","date":"November 29, 2016","format":false,"excerpt":"\r Weekly payments will increase from \u00a3155.65 to \u00a3159.55 while the old state pension will rise to \u00a3122.30 from \u00a3119.30The government has confirmed state pension will rise by 2.5% in April 2017, as a report shows that the \u201ctriple lock\u201d promise on payments could push up the cost of providing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5322,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/20-million-mainly-low-earners-to-lose-out-under-pension-reform\/","url_meta":{"origin":9222,"position":3},"title":"20 million \u2013 mainly low-earners \u2013 to lose out under pension reform","date":"February 21, 2016","format":false,"excerpt":"\r Experts say low-earners will bear the cost of reform that promised to be fairer and simpler \u2013 and its impact will be greater than that of tax credits, which forced U-turn Twenty million people will lose out from the introduction of a new flat-rate state pension with the burden\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5040,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/warning-over-final-salary-schemes-as-combined-pension-fund-deficit-grows\/","url_meta":{"origin":9222,"position":4},"title":"Warning over final salary schemes as combined pension fund deficit grows","date":"May 14, 2013","format":false,"excerpt":"\r PPF figures reveal shortfall up \u00a320bn to \u00a3256.6bn as DHL becomes latest firm to consult with staff on closing schemeFinal salary pension schemes could be consigned to history in just three years, experts have warned, as it emerged that the combined deficit of UK pension funds increased by \u00a320bn\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1538,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/most-workers-will-be-worse-off-at-retirement-under-new-universal-state-pension\/","url_meta":{"origin":9222,"position":5},"title":"Most workers 'will be worse off at retirement' under new universal state pension","date":"October 26, 2015","format":false,"excerpt":"\r Analysis by financial experts shows less than half of people retiring next year will pick up full new state pension and says majority will lose out long termMost workers reaching retirement will be worse off under the new universal state pension, expected to be set at \u00a3155 a week,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/9222"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=9222"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/9222\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=9222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=9222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=9222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}