The State Pension

[Woolverhampton_Blue]

You do realise that being able to get 30k most have worked very hard and sometimes contributed to company schemes ,not in high earning jobs ,remember.
And having contributed to the system, should basically give up entitlement?

I’m not suggesting we take people’s company or personal pensions away from them.

People are working very hard and contributing right now, but they won’t receive many of the benefits enjoyed by the generations preceding them. Why is that fair, but means testing an increasingly unaffordable state benefit unfair?

I'd have loved to have more family, couldn't afford it.
I'm now retired, early,to let future tax payers do the job I might be declining them.

I hope you have a long and happy retirement

 

[GrandOldTeam]

Watching you lad

 

[Alanbileysfeathercut]

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.

Go full tory mate.
No NHS either,pay for everything until your skint.
Sod any kids inheritance ,which could get the deposit or move to a new bigger house,bigger family.
Means test everything...

 

[summerisle]

Dibs on left overs.

I'll leave you my Diary of a, Shouldn't Something Be Happening, Opium Eater

 

[Rita_Poon]

I'll leave you my Diary of a, Shouldn't Something Be Happening, Opium Eater

Swap you my dvd copy of 'once upon a time in america'.

 

[chrismpw]

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.

Bad tory thinking this.

The population is growing, so theoretically there are more st the bottom of the age range than the top. You're talking about the aged demographic that paid for and gave you, as an infant, the NHS without which probably ½ the current population would have died earlier with terrible infant mortality rates. You want to pay them back by stopping their support as they become as enfeebled as a baby, with age?

The answer is not to kill off the aged (as Boris' plan with covid undoubtedly was) nor stop supporting them, it is to find it by taxing the wealthy 1% that owns 90% of the wealth, or whatever.

The solution is so easy. What's more, the 1% would still be enormously wealthy even after the tax.

Get out if the mindset that they sow - age v age, men v women, or whatever demographic of your choice v the other. That's how the establishment wants you to think.

 

[summerisle]

Swap you my dvd copy of 'once upon a time in america'.

...before you were deported because of posts on Grand Old Team.

 

[peteblue]

If you paid in millions of pounds via taxation then you had the privilege of earning a very good living that has no doubt afforded you a very nice life, and I’m happy for you.

I work in financial planning and spend my days gazing through people’s personal finances, so I feel I have a fairly accurate assessment on this topic based on a very large sample size, whereas your workings are most likely based on the small sample size of you and your mates down the pub. Forgive me if I’m wrong.

I was due a very large pension, stolen by Brown. Others were less fortunate but we all put in 45-50 years of work. My pension is enough for me and my wife to live comfortably but many others struggle far more than you do. No one gave us nice inheritance money, we worked every hour we could get while raising a family and whatever we have we earned. It does my head in listening to todays youth crying about what pensioners get, even though they put the years in to get it. Many pensioners still work well into their 70’s because they have a work ethic and need the money. It’s time people like yourself looked at yourselves, stop whinging and put in the hours and the years of work.

Sorry to say it like this and I didn’t mean to have a go at you, but I’m in my 70’s and still put in hours each week, to employ staff while extracting absolutely no pay. Many pensioners do similar, be it working, charity work, looking after others. If you want to have a go at anyone look at the politicians, not pensioners……..

 

[Alanbileysfeathercut]

I’m not suggesting we take people’s company or personal pensions away from them.

People are working very hard and contributing right now, but they won’t receive many of the benefits enjoyed by the generations preceding them. Why is that fair, but means testing an increasingly unaffordable state benefit unfair?



I hope you have a long and happy retirement

You should know when taking into account early retirement, the equation is based on the state pension top up at ,for me 67,which helps decide whether to stop working.
Here's something else you should know, I recieve zero benefits from the day I take early retirement till pension age.
And historically hard working folk tend not to live that long after retirement ,that's why most will retire early and spend a good chunk of the 25% ,all good for the economy.
And you can't really take much of the other 75% without getting taxed and a chunk of inheritance tax.

 

[Rita_Poon]

This again.

 

[Woolverhampton_Blue]

Go full tory mate.
No NHS either,pay for everything until your skint.
Sod any kids inheritance ,which could get the deposit or move to a new bigger house,bigger family.
Means test everything...

It’s the 50+ demographic who seem to be most in favour of that sort of thing. That 29% for Reform in the 65+ band are the definition of turkeys voting for Christmas.

 

[blulouie]

Go full tory mate.
No NHS either,pay for everything until your skint.
Sod any kids inheritance ,which could get the deposit or move to a new bigger house,bigger family.
Means test everything...

Yeah
tax their savings , means test them for hard earned saving to have a comfortable end of life with their families.
Make em work til they are 80 or 90 , then send them down the Salt Mines.

If that doesn't do it take the Winter heating allowance off them.

 

[davids]

View attachment 306401

It’s the 50+ demographic who seem to be most in favour of that sort of thing. That 29% for Reform in the 65+ band are the definition of turkeys voting for Christmas.

Still trying to work out my place,voted stay and never thought of voting anything other than Labour.

 

[chrismpw]

Sorry to say this, but you are an idiot. Pensioners spent a lifetime paying into a system that paid previous pensioners a pension without any moaning. Public sector pensions are gold plated, private pensions pay far less and those without either need looking after. I personally have paid in several million to the state via taxation and for this receive a standard pension. A previous Labour government with Gordon idiot Brown as chancellor ruined both my industry and the pension schemes in place in both the U.K. and those of the people of the companies we owned in the USA. You go on, like Reeves and Starmer do, about working people, well what do you think pensioners did for 50 years apart from raising selfish children who moan about pensions. Do yourself a favour, stop and think for a moment, before going on about pensioners……

I agree with this - apart from the bit about Gordon Brown, who ran the best economy since WW2 - until a global banking collapse forced him to use the UK reserves to give the everyday Joe their money back in the banks, because greedy bankers, starting un the US and the UK proved they didn't have a clue about the economy despite their bonuses. The tory media pinned it on Brown alone, and failing out the banks - when in reality, he was bailing out everybody with their salaries and savings in those inept banks. You too, Pete, unless your accounts are in the Cayman Islands?

 

[Rita_Poon]

I agree with this - apart from the bit about Gordon Brown, who ran the best economy since WW2 - until a global banking collapse forced him to use the UK reserves to give the everyday Joe their money back in the banks, because greedy bankers, starting un the US and the UK proved they didn't have a clue about the economy despite their bonuses. The tory media pinned it on Brown alone, and failing out the banks - when in reality, he was bailing out everybody with their salaries and savings in those inept banks. You too, Pete, unless your accounts are in the Cayman Islands?

[makes note of another double space. Hmm]

Re that tory media, they're not up in arms about the covid ppe lanes are they, went for Rayner over £1600 of potential capital gains possible fraud (was it balls!) yet the mystery Spaniard that got hundreds of millions worth of failed ppe contracts can't be found or details of his relationships prior to his vip lane status award.