The State Pension

[Woolverhampton_Blue]

The State Pension in its current format is fast becoming an unsustainable burden on working people. I believe it currently accounts for around 11% of the annual budget and over 50% of welfare spending.

With the older demographic having played a big hand in delivering Brexit, and now doing something similar with Reform, is it time for us to look seriously and making a change? They are biting the hands of those who fund their benefits, and I feel it should no longer be tolerated.

My suggestion would be to scrap the triple lock immediately, before gradually moving to a means tested State Pension in tranches. The poorest will retain their full entitlement, but it will essentially be a generous form of Universal Credit for the elderly. We can use the money saved on education and skills training.

Discuss.

 

[Daveysgingerlovechild]

@Bruce Wayne @peteblue - a topic for you gents

 

[Daveysgingerlovechild]

The State Pension in its current format is fast becoming an unsustainable burden on working people. I believe it currently accounts for around 11% of the annual budget and over 50% of welfare spending.

With the older demographic having played a big hand in delivering Brexit, and now doing something similar with Reform, is it time for us to look seriously and making a change? They are biting the hands of those who fund their benefits, and I feel it should no longer be tolerated.

My suggestion would be to scrap the triple lock immediately, before gradually moving to a means tested State Pension in tranches. The poorest will retain their full entitlement, but it will essentially be a generous form of Universal Credit for the elderly. We can use the money saved on education and skills training.

Discuss.

Define the poorest. I've a terrible feeling many, who would currently be considered comfortable in working age, will not have made sufficient provisions to survive without the state pension alongside an employer or private pension. Assuming they have one.

 

[toffee82]

You do realise that this will disproportionately effect subsequent generations that aren't currently in receipt of the state pension.

 

[Bedfordblue]

 

[Woolverhampton_Blue]

Define the poorest. I've a terrible feeling many, who would be considered comfortable, in working age will not have made sufficient provisions to survive without the state pension alongside an employer or private pension. Assuming they have one.

Well right out the gate, anyone with a defined benefit pension providing an annual income of over £30k should be ineligible.

It’s harder with defined contribution arrangements. I suppose you would have to do cash flow modelling for an individuals pot from retirement age to the average life expectancy, also factoring in savings and property value. You could then arrive at some sort of formula for deciding eligibility.

I agree about people not having made sufficient provision for retirement and it desperately needs addressing, but I honestly don’t think a State Pension will be the long term answer to that.

 

[Rita_Poon]

Well right out the gate, anyone with a defined benefit pension providing an annual income of over £30k should be ineligible.

It’s harder with defined contribution arrangements. I suppose you would have to do cash flow modelling for an individuals pot from retirement age to the average life expectancy, also factoring in savings and property value. You could then arrive at some sort of formula for deciding eligibility.

I agree about people not having made sufficient provision for retirement and it desperately needs addressing, but I honestly don’t think a State Pension will be the long term answer to that.

This won't get fought tooth and nail at all.

 

[Woolverhampton_Blue]

You do realise that this will disproportionately effect subsequent generations that aren't currently in receipt of the state pension.

I can guarantee that many people currently “paying in” will not receive one. I’m simply advocating we bite the bullet and bring it forward.

 

[blulouie]

 

[summerisle]

The State Pension in its current format is fast becoming an unsustainable burden on working people. I believe it currently accounts for around 11% of the annual budget and over 50% of welfare spending.

With the older demographic having played a big hand in delivering Brexit, and now doing something similar with Reform, is it time for us to look seriously and making a change? They are biting the hands of those who fund their benefits, and I feel it should no longer be tolerated.

My suggestion would be to scrap the triple lock immediately, before gradually moving to a means tested State Pension in tranches. The poorest will retain their full entitlement, but it will essentially be a generous form of Universal Credit for the elderly. We can use the money saved on education and skills training.

Discuss.

Do you eat Soylent Blue ?

 

[Woolverhampton_Blue]

This won't get fought tooth and nail at all.

Honestly mate, if the older generation want to vote Conservative and Reform that’s fine, but they can at least do us all a favour and live by the principles of those parties (look out for yourself, pull yourself up by your bootstraps, etc) rather than expecting the benefits a well funded welfare state provides. State Pensions and the NHS are very socialist ideals, and they clearly don’t seem to be leaning that way in the voting booth. Let’s give them what they’re voting for.

 

[Woolverhampton_Blue]

Do you eat Soylent Blue ?

I prefer Soma, personally.

 

[Rita_Poon]

Honestly mate, if the older generation want to vote Conservative and Reform that’s fine, but they can at least do us all a favour and live by the principles of those parties (look out for yourself, pull yourself up by your bootstraps, etc) rather than expecting the benefits a well funded welfare state provides. State Pensions and the NHS are very socialist ideals, and they clearly don’t seem to be leaning that way in the voting booth. Let’s give them what they’re voting for.

"I'm alright Jack!" has been around for decades, it's just become more accepted.

Nadhim Zahawi confirms nearly £5m paid for tax error

The ex-chancellor says he is sorry for not giving more details in his ministerial declaration.

www.bbc.co.uk

Not many people get away with forgetting to pay their tax, funny how the system works.

 

[tonyhorne]

Well right out the gate, anyone with a defined benefit pension providing an annual income of over £30k should be ineligible.

In a few short years, that will be practically no-one ...

 

[Woolverhampton_Blue]

"I'm alright Jack!" has been around for decades, it's just become more accepted.

Nadhim Zahawi confirms nearly £5m paid for tax error

The ex-chancellor says he is sorry for not giving more details in his ministerial declaration.

www.bbc.co.uk

Not many people get away with forgetting to pay their tax, funny how the system works.

I would much prefer we get better at taxing wealth than removing benefits from either the working or the elderly, but here we are.