Pension Injustice.

HAYSIE

France to raise state pension age – and Britain could be next


https://www.msn.com/en-gb/money/other/france-to-raise-state-pension-age-and-britain-could-be-next/ar-AA16bh6v?ocid=msedgntp&cvid=ecf2a323fb884567a9f0a3d9745c948d

rabdeniro

Has it not already happened here.

Essexphil

Outrage in France for suggesting Pension age will rise to 62 to 64.

We are already at 66, and about to go up to 67. There will soon be an announcement putting it up earlier to 68 than currently planned.

Does it have to go up? Yes. But that is no reason why the UK's has to go up further and quicker than everywhere else.

Except, of course, if the Tories want to tax the poor to fund the rich. As per usual. Just bankers bonuses seem to be sacrosanct.

Twice-because if you are a man you have to pay in for an extra 3 years and receive 3 years less money than in 2011. And 8 years twice for women. Which is a truly massive amount of money.

HAYSIE

State Pension age timetable - GOV.UK - From …
https://www.gov.uk/government/publications/state-pension-age-timetable/...
The Pensions Act 2014 brought the increase in the State Pension age from 66 to 67 forward by 8 years. The State Pension age for men and women will now increase to 67 between 2026 and 2028. The government also changed the way in which the increase in State Pension age is phased so that rather than … See more

HAYSIE

State pension age 'to hit 70' despite falling life expectancy and 'many will die too soon'


https://www.msn.com/en-gb/money/other/state-pension-age-to-hit-70-despite-falling-life-expectancy-and-many-will-die-too-soon/ar-AA16m9eN?ocid=msedgntp&cvid=0e0faaa456764137b2e925ce6b527de6

Essexphil

This Government is certainly ahead of the curve.

Pension ages are rising throughout the World. Inflation is higher than it was all around the World. Energy prices are going up all around the World.

That is all true. But what this lying, cheating, morally, ideologically and fiscally Bankrupt Government won't admit to is this:-

Pension ages are higher here than all comparative nations, going up faster than most, and pay out less than most comparable nations.

Inflation is higher here than all comparable nations.

Energy prices are higher here than all comparable nations-even though we are less reliant on Russian/Ukraine supplies than all comparable European nations (unless you count Norway).

No Government has ever taxed so many, so much. To support so few rich people.

goldon

Why is our Phil not PM and running the Country.....? hic!

Essexphil

goldon said:

Why is our Phil not PM and running the Country.....? hic!

Because it's a lot easier criticising things that are done badly than actually doing things yourselves

stokefc

goldon said:

Why is our Phil not PM and running the Country.....? hic!

Best poster on here imo

stokefc

I'm falling bits now i dread to think 12 years ahead never mind 15

Bean81

I'd like to see employers and employees contributions be compulsory. I realise that comes with its own short-term problems, but it would be hugely beneficial in the long run.

As with any state funding, there's a question about who should pay. Not so long ago, people had an average of 10-15 years claiming state pension. Shorter life expectancy came with a lower NHS burden, plus there seemed to be and more reliance on family caring for their own elderly. Now people average 18-20 years on state pension, which £189k-£200k lifetime pension awards plus potentially £25k-£100k in care home support. Somebody that averages £30k per year salary for 30 years will pay about £190k in income tax and NI in their lifetime.

HAYSIE

madprof

Hmmm

ACEGOONER

Bean81 said:

I'd like to see employers and employees contributions be compulsory. I realise that comes with its own short-term problems, but it would be hugely beneficial in the long run.

As with any state funding, there's a question about who should pay. Not so long ago, people had an average of 10-15 years claiming state pension. Shorter life expectancy came with a lower NHS burden, plus there seemed to be and more reliance on family caring for their own elderly. Now people average 18-20 years on state pension, which £189k-£200k lifetime pension awards plus potentially £25k-£100k in care home support. Somebody that averages £30k per year salary for 30 years will pay about £190k in income tax and NI in their lifetime.

Employers already are obliged to offer a workplace pension, to which both they contribute and the employee. It works on the basis of negative affirmation ie the employee has to opt out to stop paying in and getting employer money. Its been law for several years in this country.

Bean81

^^ indeed. Many staff opt-out in my experience and many xompanies offer **** all as a % of salary. At my place of work, the company offers double the employee contributions up to 10%. Auto enrol is 2% employee I think. A lot ofnyounger staff in particular opt-out, even though it's free money. Even better with the tax break on contributions.

I'm also making an assumption that people on zero hour contracts get nothing. I could be wrong about that.

PaintedOne

Bean81 said:

^^ indeed. Many staff opt-out in my experience and many xompanies offer **** all as a % of salary. At my place of work, the company offers double the employee contributions up to 10%. Auto enrol is 2% employee I think. A lot ofnyounger staff in particular opt-out, even though it's free money. Even better with the tax break on contributions.

I'm also making an assumption that people on zero hour contracts get nothing. I could be wrong about that.

how can it be free money if you not around to use it?

Enut

PaintedOne said:

Bean81 said:

^^ indeed. Many staff opt-out in my experience and many xompanies offer **** all as a % of salary. At my place of work, the company offers double the employee contributions up to 10%. Auto enrol is 2% employee I think. A lot ofnyounger staff in particular opt-out, even though it's free money. Even better with the tax break on contributions.

I'm also making an assumption that people on zero hour contracts get nothing. I could be wrong about that.

how can it be free money if you not around to use it?

And that's the mindset that leads to people not making any plans for their retirement then moaning when they have no money when they get there, you can't have your cake and eat it.

VespaPX

HAYSIE

State Pension 'must rise to 75' in huge financial warning


https://www.msn.com/en-gb/money/other/state-pension-must-rise-to-75-in-huge-financial-warning/ar-AA1iMlRx?ocid=msedgntp&pc=NMTS&cvid=cf036a68855e49d1a1d9df3c3a1478c1&ei=25

HAYSIE

The year the state pension will start to collapse – whoever wins the election


https://uk.yahoo.com/finance/news/state-pension-start-collapse-whoever-070500895.html

Essexphil

That article is spot on.

No political Party dares do anything other than kick this particular can down the road. Simply because to tell the truth is something the voters will not accept.

The election would be won by whoever promised the impossible. Not the 1 that told the truth. Simply because voters will vote for whatever suits them in the short term.

There desperately needs to be a cross-party, in-depth discussion on this topic. Using real figures from real experts, rather than effectively forcing politicians not to tell the truth on this topic.

It's not a Party Political issue. For decades, Retired people pretend that it is their contributions that fund today's state pension. And it is not true. It has always been today's workers that fund today's state pensions. Not their own.

It's not today's pensioners "fault". But they did not pay in anywhere near enough while working to fund the pensioners then. Resulting in a massive shortfall. So massive that there needs to be huge cuts. And today's pensioners believe that burden should only fall on today's workers and tomorrow's pensioners. Not them. Not this year. Not any year.

That position is becoming increasingly unsustainable.