Discussion
I don’t understand why there isn’t more push back to increases in the state pension age are people really that stupid that they don’t realise what’s being done to them? I remember Poll Tax riots and the amounts people are loosing having their state pensions delayed are far higher but there’s never any protest and you see little discussion.
Do victims not realise that the government are taking £11000 off them for every year that it’s delayed? There was agreement that they’d receive their state pension at 65 but the government reneged. No way the French would roll over there’d be public unrest.
There are many wealthy people receiving the state pension at 65 and many poor people who aren’t going to receive it until at least 67. Future pensioners loosing out to current pensioners with the triple lock aggravating the situation.
Do victims not realise that the government are taking £11000 off them for every year that it’s delayed? There was agreement that they’d receive their state pension at 65 but the government reneged. No way the French would roll over there’d be public unrest.
There are many wealthy people receiving the state pension at 65 and many poor people who aren’t going to receive it until at least 67. Future pensioners loosing out to current pensioners with the triple lock aggravating the situation.
Victims… 
What magic money tree do you propose using to freeze the age at 65 and pay it for longer in line with higher life expectancy and triple lock it?
Especially since the country doesn’t appear to want a proper mature immigration discussion and policy to prop the tax take up as the population ages.
What magic money tree do you propose using to freeze the age at 65 and pay it for longer in line with higher life expectancy and triple lock it?
Especially since the country doesn’t appear to want a proper mature immigration discussion and policy to prop the tax take up as the population ages.
I’m 43 currently and I have a fairly good private pension setup which should see me retire at 55 drawing my pension, I may choose to work past that but it will be my choice.
I was brought up believing there won’t even be a state pension by the time I reach a state pension age, I still believe that or I will be means tested out of it
I was brought up believing there won’t even be a state pension by the time I reach a state pension age, I still believe that or I will be means tested out of it
Looked at this recently & being quite blunt,
I suspect those that require the state pension as main source of retirement income will probably find they only every paid about £30-40k of NI in their whole working life… so it’s a likely to be good deal for those that rely on it.
Folk whine about having paid for it all their lives etc but it is, despite what some argue, a benefit for many.
I suspect those that require the state pension as main source of retirement income will probably find they only every paid about £30-40k of NI in their whole working life… so it’s a likely to be good deal for those that rely on it.
Folk whine about having paid for it all their lives etc but it is, despite what some argue, a benefit for many.
Jamescrs said:
I’m 43 currently and I have a fairly good private pension setup which should see me retire at 55 drawing my pension, I may choose to work past that but it will be my choice.
I was brought up believing there won’t even be a state pension by the time I reach a state pension age, I still believe that or I will be means tested out of it
I'm a couple years younger but view it the same.I was brought up believing there won’t even be a state pension by the time I reach a state pension age, I still believe that or I will be means tested out of it
I view the state pension as a bit of a Ponzi scheme with elements of a pyramid scheme as it relies on more people paying in, those working now are paying for those retired now and on and on it goes. People are living longer so there's more of them. It relies on more people joing the work force and paying tax/NI contributionsto prop it up. I expect people in our age bracket will get something all be it later than the current changes in a few years. My kids <10 will get bugger all and I expect much of the social safety net will also be gone unless governments make some tough choices.
Franco5 said:
There are many wealthy people receiving the state pension at 65 and many poor people who aren’t going to receive it until at least 67. Future pensioners loosing out to current pensioners with the triple lock aggravating the situation.
I personally would move the “triple lock” onto the guaranteed income level - pension credit or whatever.This would mean we are only giving the full cost of living increases to those who require it & big committing as a country to give large state pension increases to those who may not need it as they have alternative income.
I started work full time at 16 years of age, I understand that school leavers now leave at 18 and many go on to further educafion so are starting their working life in their twenties.
This alone is one sound reason to raise the age at which SP will be paid.
'er indoors was assured that she would be able to retire at 60, then equal rights came along and the ladies had to wait until they were 65!
This alone is one sound reason to raise the age at which SP will be paid.
'er indoors was assured that she would be able to retire at 60, then equal rights came along and the ladies had to wait until they were 65!
Jamescrs said:
I’m 43 currently and I have a fairly good private pension setup which should see me retire at 55 drawing my pension, I may choose to work past that but it will be my choice.
I was brought up believing there won’t even be a state pension by the time I reach a state pension age, I still believe that or I will be means tested out of it
Same here. I’ve always assumed I need to take responsibility for my own pension provision and that by the time I retire the state pension will be worthless and/or means tested.I was brought up believing there won’t even be a state pension by the time I reach a state pension age, I still believe that or I will be means tested out of it
Too many feckless wasters draining the public purse and it’s only going to get worse once Starmer and Co are in office.
FreeLitres said:
If anyone aged 45 or below are still paying the basic default 5% of their wage into their workplace pension - wake up. You will not have enough pension to retire on.
It's easy to say that, but, people can't necessarily afford to pay more given the cost of living, house prices etc etc and if they can, there is a balance to be made. Pay loads in and die before being able to see it, or pay less and enjoy life now while alive. Ive just got back from holiday and the state of most of the older people around the pool was a total disgrace. They must be bone idle most with massive bellys, blokes with cup sizes bigger than the women which says much about their self respect and self control. I just hope they don’t start peddling Ozempic before their obesity catches up with them then we might be in with a fighting chance.
I’m 60 and have just retired (see my other thread) and clearly remember everyone being told that they really need to sort a pension of their own, so I did, back in 1988 or 1989 (?). So, anyone who hasn’t heeded that advice only has themselves to blame. I regard myself as quite fortunate, and it looks like I will get a state pension in seven years time.
Perhaps governments should have, with hindsight, introduced the current system of compulsory workplace pensions back in 1990?
And of course, anyone who thinks they can trust what a government says, and then plan their future around that, is being extremely naive.
Saying all that, having people on zero hours contracts with not enough hours, and people on minimum wage that can’t get by without so-called benefits leaves me feeling sick and angry. How the actual **** are those members of our society supposed to provide for their old age?
I’ll tell you how: the current government would prefer it if they literally worked til they dropped dead. Simple as that.
Perhaps governments should have, with hindsight, introduced the current system of compulsory workplace pensions back in 1990?
And of course, anyone who thinks they can trust what a government says, and then plan their future around that, is being extremely naive.
Saying all that, having people on zero hours contracts with not enough hours, and people on minimum wage that can’t get by without so-called benefits leaves me feeling sick and angry. How the actual **** are those members of our society supposed to provide for their old age?
I’ll tell you how: the current government would prefer it if they literally worked til they dropped dead. Simple as that.
Retired in October, started work as a contractor in March…. Wife wanted me out of the house.
State pension is about a quarter of my pension provision so far, the triple lock on a pittance is still a pittance.
My wife and I both have delayed pensions (66) so what, I don’t want to be paying more tax.
State pension is about a quarter of my pension provision so far, the triple lock on a pittance is still a pittance.
My wife and I both have delayed pensions (66) so what, I don’t want to be paying more tax.
Whilst I do agree to an extent that you should prepare yourself without expecting anything from the state, it is a bit of a p!sstake. I'm 42, paid in since I was 16 without a single break in employment and barring an early death expect to pay in until my state pension age of 68 (currently). That's 52 years in total and potentially they'll be nothing at the end of it, statewise. I've paid into a workplace pension since 16 years of age. I've never received any benefits whatsoever, not that it's a bad thing of course and been wholly self-sufficient so far, but it is galling seeing many people getting something for absolutely nothing.
Tony1963 said:
Perhaps governments should have, with hindsight, introduced the current system of compulsory workplace pensions back in 1990?
And of course, anyone who thinks they can trust what a government says, and then plan their future around that, is being extremely naive.
Saying all that, having people on zero hours contracts with not enough hours, and people on minimum wage that can’t get by without so-called benefits leaves me feeling sick and angry. How the actual **** are those members of our society supposed to provide for their old age? .
The compulsory work place pension certainly ain’t going to be the magic bullet for a while. It only started phased between 2012 & 2018.And of course, anyone who thinks they can trust what a government says, and then plan their future around that, is being extremely naive.
Saying all that, having people on zero hours contracts with not enough hours, and people on minimum wage that can’t get by without so-called benefits leaves me feeling sick and angry. How the actual **** are those members of our society supposed to provide for their old age? .
I know one of our family’s employees aged 65, his compulsory pension started Dec-16.
7.5years & he’s accrued only £10k of a fund through his & our contributions (always been paid about 50p more than minimum for a 40hr week & had about average 20hrs overtime each month - his pension contributions are calculated on all earnings.
I recon that £10k pension is worth about £12/wk if he retired now & took an annuity?
(His state pension accrued in same time is about £48)
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