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What are you going to spend your pension rise on?

On checking our bank statement online this morning, I see my weekly state pension is up by £6.41. I am going to have to think of all the things I can buy with it.

I read in the newspapers that people age 80 will be getting an increase of 25pence a week. Are you going to treat yourself or will it be used towards the gas and electric bills?

17 Answers

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  • 9 years ago
    Favorite Answer

    Mine was up by just over £8 but I will be taxed on occupational pension at end of month so that will drop it back to £6.Have not had occupational pension rise for about 8 years even though current workers (BT) had rise of nearly 9% a couple of years ago,the BT pensioners got nothing more.

    Did lash out today & had scone & coffee in town instead of waiting until I got home.

  • 9 years ago

    Having had a number of jobs since entering the job market aged 12 in 1941, I have acquired a number of (small) pensions, including both US and UK OAPs. Some go up in January, some in April (either from the UK tax year or because of my birthday). One goes up by 6% regardless, another by 3% regardless, my OAPs go up by whatever the respective governments pretend is the annual inflation rate, others up or down according to the stock market. As the total is (still) a little more than I need to live on and as my 1994 divorce settlement left me with only the cash to buy an old, drafty and tiny 2 up and 2 down, I have been spending all my spare income since I paid off the mortgage on making it livable and insulated. This will be helped even more this year by an expected windfall from my US income tax than from my UK OAP increase for the over eighties. But ask me again in 2013 when I hope to have had this very long drawn out house improvement project finally finished. Although by then inflation will probably have wiped out any surplus at all.

  • hb12
    Lv 7
    9 years ago

    Mine went up $5 but other benefits went down $4. Some prices are up 40% to 80% so I'm making out like a bandit. How about a long vacation in a country where everything is half price. That would work if I can get up out of this chair for lunch.

  • TSK
    Lv 7
    9 years ago

    Perhaps in view of the fact most workers are NOT getting increases, nor in many cases had one for SEVERAL years, you should just be happy with it....? The 25p extra, for the over 80's, is a thing from way back, and NOT new, when that was worth something...Try not to Read the Daily Mail too often.....

    Source(s): Have to wait til 66 for mine!
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  • Peggy
    Lv 6
    9 years ago

    Lucky you, my increase is only £4.10. Those over 80s will be receiving the advertised rise PLUS the 25p age related rise as well.

    Mine goes straight into the bank where it will stay until I need to take some out. Over one quarter I should have £53.30 extra towards the next gas bill, woopee!. My last one was almost £300

  • 9 years ago

    I'm in th U.S., so I'm not getting a pension rise. However, whenever I do get extra money, I never think about how to spend it. It goes right into my checking or savings, and I use it for whatever I truly need. As a senior citizen, my emphasis is on getting rid of things, rather than accumulating things.

  • 9 years ago

    Going to make the best of it as | don't think ever our State Pensions will go up as much. Between my husband and myself we get £18.17 a week more. Since our Council Tax is still frozen in our area for another year we may as well enjoy it this year as something like that is no doubt where it will go to in future years.

  • Anonymous
    9 years ago

    So that's why my Mum has asked me to check out which widescreen HD TV to buy, an extra 25p a week.

    Spending my inheritence I'll be bound.

    Currently my head is spinning with the choice, and I haven't even started looking for the wall mountings and covers to hide the cables.

  • Kini
    Lv 7
    9 years ago

    We dont have state pensions except what we worked for and that is paid monthly. There is a cost of living every few years. It doesnt matter how old you are, there is no favoritism for older people in the US.

  • 9 years ago

    Grab that cash with both hands and make a stash

    New car, caviar, four star daydream

    Think I'll buy me a football team

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