Pensioner Bonds
Discussion
A Tory MP has broken ranks and articulated just what I feel about these; that they are a cynical election ploy.
The rate pensioners will be getting, so in effect the rate the rest of the country will be paying them for borrowing money off them, is higher than the rate we could have got from the Central European Bank. So it's a form of intergenerational theft.
And these aren't pensioners sitting around a one bar heater eating beans out of a tin whilst wrapped up against the cold in a tartan shawl, but well organised affluent pensioners with spare cash to invest. Just the type of people who always vote in elections and usually vote Tory.
Sickening really.
The rate pensioners will be getting, so in effect the rate the rest of the country will be paying them for borrowing money off them, is higher than the rate we could have got from the Central European Bank. So it's a form of intergenerational theft.
And these aren't pensioners sitting around a one bar heater eating beans out of a tin whilst wrapped up against the cold in a tartan shawl, but well organised affluent pensioners with spare cash to invest. Just the type of people who always vote in elections and usually vote Tory.
Sickening really.
Eh?
Which bit of "interest rates in UK are negative to inflation and even more negative after tax" has the OP failed to grasp?
A lifeline for older people who aren't claiming benefits and sponging off the state sounds entirely reasonable to me. After all, why should savers subsidise borrowers?
Which bit of "interest rates in UK are negative to inflation and even more negative after tax" has the OP failed to grasp?
A lifeline for older people who aren't claiming benefits and sponging off the state sounds entirely reasonable to me. After all, why should savers subsidise borrowers?
Claudia Skies said:
Eh?
Which bit of "interest rates in UK are negative to inflation and even more negative after tax" has the OP failed to grasp?
A lifeline for older people who aren't claiming benefits and sponging off the state sounds entirely reasonable to me. After all, why should savers subsidise borrowers?
In a free market, why should the government (and by default, us) borrow money from comfortably off pensioners at a higher rate of interest than they (and that means we) could get elsewhere? Which bit of "interest rates in UK are negative to inflation and even more negative after tax" has the OP failed to grasp?
A lifeline for older people who aren't claiming benefits and sponging off the state sounds entirely reasonable to me. After all, why should savers subsidise borrowers?
TwigtheWonderkid said:
A Tory MP has broken ranks and articulated just what I feel about these; that they are a cynical election ploy.
The rate pensioners will be getting, so in effect the rate the rest of the country will be paying them for borrowing money off them, is higher than the rate we could have got from the Central European Bank. So it's a form of intergenerational theft.
And these aren't pensioners sitting around a one bar heater eating beans out of a tin whilst wrapped up against the cold in a tartan shawl, but well organised affluent pensioners with spare cash to invest. Just the type of people who always vote in elections and usually vote Tory.
Sickening really.
What's IHT if not 'intergenerational theft'?The rate pensioners will be getting, so in effect the rate the rest of the country will be paying them for borrowing money off them, is higher than the rate we could have got from the Central European Bank. So it's a form of intergenerational theft.
And these aren't pensioners sitting around a one bar heater eating beans out of a tin whilst wrapped up against the cold in a tartan shawl, but well organised affluent pensioners with spare cash to invest. Just the type of people who always vote in elections and usually vote Tory.
Sickening really.
If you were 65 today with savings, would you (a) put them where they'd get the best rate for no risk, or (b) other? Perhaps you didn't look that far ahead. Perhaps the problem is that you're starting from the position of 'socialist', rather than actually thinking.
If pensioner poverty/lack of care for the elderly upsets you - as it does me - then that's a different matter. How much benefit money has been spent on foreigners when it could have been spent looking after the elderly? And while I'm on the subject of 'fair', why do I have to pay for other people's children?
Simpo Two said:
TwigtheWonderkid said:
A Tory MP has broken ranks and articulated just what I feel about these; that they are a cynical election ploy.
The rate pensioners will be getting, so in effect the rate the rest of the country will be paying them for borrowing money off them, is higher than the rate we could have got from the Central European Bank. So it's a form of intergenerational theft.
And these aren't pensioners sitting around a one bar heater eating beans out of a tin whilst wrapped up against the cold in a tartan shawl, but well organised affluent pensioners with spare cash to invest. Just the type of people who always vote in elections and usually vote Tory.
Sickening really.
What's IHT if not 'intergenerational theft'?The rate pensioners will be getting, so in effect the rate the rest of the country will be paying them for borrowing money off them, is higher than the rate we could have got from the Central European Bank. So it's a form of intergenerational theft.
And these aren't pensioners sitting around a one bar heater eating beans out of a tin whilst wrapped up against the cold in a tartan shawl, but well organised affluent pensioners with spare cash to invest. Just the type of people who always vote in elections and usually vote Tory.
Sickening really.
If you were 65 today with savings, would you (a) put them where they'd get the best rate for no risk, or (b) other? Perhaps you didn't look that far ahead. Perhaps the problem is that you're starting from the position of 'socialist', rather than actually thinking.
If pensioner poverty/lack of care for the elderly upsets you - as it does me - then that's a different matter. How much benefit money has been spent on foreigners when it could have been spent looking after the elderly? And while I'm on the subject of 'fair', why do I have to pay for other people's children?
2. You are asking me what I'd do if I were over 65. I'd grab the pensioner bond, who wouldn't. Not actually what I'm discussing though.
3. I never said pensioner poverty upset me. Just pointed out that this bond doesn't help poor pensioners.
4. I suspect the money spend on British elderly people far exceeds the amount spend on foreigners, but I don't know the figures. Why not start a thread about it if you want views on that topic.
5. Paying for other people's children, start a thread on that too if you like.
Any views on what I've posted?
Those who decry the principle of the PB will point to the fact that if the state wanted to stockpile money, it could do more cheaply with a Gilt issue right now and that it should be encouraging investment into stimulating the economy, not salting it into silos.
Others point out that in contrast, younger people are benefiting greatly from interest rates and tax cuts which those now entering retirement were not able to do 20/30 years ago, maternity and paternity benefits (which also come at a cost..) and now that their mortgage is paid off.
This might excite some comment though, someone suggesting that because some women draw the state pension early, they are discriminated against on the grounds that the PB isn't available until aged 65.
http://www.bitterwallet.com/women-to-miss-out-on-p...
There might be some who might have the temerity to question the single issue agenda which asks why some who already benefit from receiving the state pension earlier can't also receive another benefit on top. The very cheek of it.
Others point out that in contrast, younger people are benefiting greatly from interest rates and tax cuts which those now entering retirement were not able to do 20/30 years ago, maternity and paternity benefits (which also come at a cost..) and now that their mortgage is paid off.
This might excite some comment though, someone suggesting that because some women draw the state pension early, they are discriminated against on the grounds that the PB isn't available until aged 65.
http://www.bitterwallet.com/women-to-miss-out-on-p...
There might be some who might have the temerity to question the single issue agenda which asks why some who already benefit from receiving the state pension earlier can't also receive another benefit on top. The very cheek of it.
Ginge R said:
This might excite some comment though, someone suggesting that because some women draw the state pension early, they are discriminated against on the grounds that the PB isn't available until aged 65.
But pensioner bond is just a nickname. It's actually called the over 65 fixed savings bond. Gassing Station | Finance | Top of Page | What's New | My Stuff