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