Join us FREE, we're FREE to use
Web's largest swingers site since 2006.
Already registered?
Login here
Join us FREE, we're FREE to use
Web's largest swingers site since 2006.
Already registered?
Login here
 | Back to forum list |
| Back to Politics |
| Jump to newest |  |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? " Why can't the 6th  Largest economy in the world afford pensions? | |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? Why can't the 6th Largest economy in the world afford pensions?"we are 37th in GDP by capita. Which is a more pertinent way of measuring "wealth". Unless you think I india could support a state pension like ours ? | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"Do we really have worst pension in Europe, I often see this stated but never see any evidence that this is true. Also you'd have to factor in how much tax you pay in each country. I wouldn't be surprised if pensions in Sweden for example are better, bit their tax rates are also higher as far as I know." Whilst it doesn't exactly answer your question a UK government breifing paper by Roderick McInnes addresses most of it. 'Pension: international comparisons', House of Commons Library Breifing paper CBP00290, 9 April 2021. The last paragraph of the summary states: 'The UK devotes a smaller percentage of its GDP to state pensions abd pensioner benefits than most other advanced economies. Income from occupational and persional pensions is a relatively important source of pensioner income in the UK, in contrast to many other countries where state provision (financed either through social insurance contributions or general taxation) is dominant.' The UK is rated 28 out of the 36 countries listed (note not all of them are European). Switzerland and Netherlands were the only lower ranked European contries. | |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? Why can't the 6th Largest economy in the world afford pensions?"Can the 1st, 2nd and 3rd? Paying them and affording them are not the same thing. | |||
| Reply privately | Reply in forum | Reply +quote |
"Do we really have worst pension in Europe, I often see this stated but never see any evidence that this is true. Also you'd have to factor in how much tax you pay in each country. I wouldn't be surprised if pensions in Sweden for example are better, bit their tax rates are also higher as far as I know. Whilst it doesn't exactly answer your question a UK government breifing paper by Roderick McInnes addresses most of it. 'Pension: international comparisons', House of Commons Library Breifing paper CBP00290, 9 April 2021. The last paragraph of the summary states: 'The UK devotes a smaller percentage of its GDP to state pensions abd pensioner benefits than most other advanced economies. Income from occupational and persional pensions is a relatively important source of pensioner income in the UK, in contrast to many other countries where state provision (financed either through social insurance contributions or general taxation) is dominant.' The UK is rated 28 out of the 36 countries listed (note not all of them are European). Switzerland and Netherlands were the only lower ranked European contries." You supplied everything but the spoon!  | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"Why is this country not in the top 5 richest countries in the world. The Tudors, The Empire, The CommonWEALTH, North Sea Oil, Overseas investments, American connections, The Black Economy, The Pink Pound. The 24/7 economy. Where's it all going? It doesn't add up. " The distribution of that Wealth. As a collective ranking is high. But when divided amongst the population as a whole it is not. Simple mathematics really. It has been this way in the British Isle for centuries. It won’t change just because some think they have ‘stuck it to the man’ by voting Brexit, or refuse a vaccine or have 1000s of followers on socials. | |||
| Reply privately | Reply in forum | Reply +quote |
"Why is this country not in the top 5 richest countries in the world. The Tudors, The Empire, The CommonWEALTH, North Sea Oil, Overseas investments, American connections, The Black Economy, The Pink Pound. The 24/7 economy. Where's it all going? It doesn't add up. " speed bumps in speed bumps out.... the spainish dont even know what a speed bump is and certainly wouldnt pay for a five man team and traffic lights and...to fit one... french have no health a safety department employing 1000s because they have the laws anyway... we brits do like to piss money away on pontificating/nonsense/pomp etc etc coz we do things right lol The baby boomers were all working at one point and the pension contributions were spent elsewhere... like all good fraudsters do! guillotine please  | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"The UK state pension is a big pyramid scheme, people underneath paying for the people on top." trouble is, it's an upside down pyramid. | |||
| Reply privately | Reply in forum | Reply +quote |
"The UK state pension is a big pyramid scheme, people underneath paying for the people on top.trouble is, it's an upside down pyramid. " Ain't that the truth.  | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? Why can't the 6th Largest economy in the world afford pensions?"The pension system was never designed to support a large number of older people. It has essentially been unfunded since inception. This means that as liabilities rise (older people are not dying as often as they used to because of better medical care) then the general tax base needs to pay for it. The problem is that the tax base is increasingly reliant on a smaller and smaller (relatively) base of working age people to pay that deficit. This becomes increasingly unsustainable and hence why governments are trying to extend the working age to offset it. In addition the state is responsible for public worker pensions and lot of those are final salary which means that your payout is based on your final salary irrespective of how much money is actually in your pension pot. To all intents and purposes those are unfunded as well and represent a very large future liability. This future unfunded liability is why private sector pensions stopped final salary years ago. | |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? Why can't the 6th Largest economy in the world afford pensions?
The pension system was never designed to support a large number of older people. It has essentially been unfunded since inception. This means that as liabilities rise (older people are not dying as often as they used to because of better medical care) then the general tax base needs to pay for it. The problem is that the tax base is increasingly reliant on a smaller and smaller (relatively) base of working age people to pay that deficit. This becomes increasingly unsustainable and hence why governments are trying to extend the working age to offset it.
In addition the state is responsible for public worker pensions and lot of those are final salary which means that your payout is based on your final salary irrespective of how much money is actually in your pension pot. To all intents and purposes those are unfunded as well and represent a very large future liability. This future unfunded liability is why private sector pensions stopped final salary years ago."Added to the population increase vs decreasing number of workers/contributors | |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? Why can't the 6th Largest economy in the world afford pensions?
The pension system was never designed to support a large number of older people. It has essentially been unfunded since inception. This means that as liabilities rise (older people are not dying as often as they used to because of better medical care) then the general tax base needs to pay for it. The problem is that the tax base is increasingly reliant on a smaller and smaller (relatively) base of working age people to pay that deficit. This becomes increasingly unsustainable and hence why governments are trying to extend the working age to offset it.
In addition the state is responsible for public worker pensions and lot of those are final salary which means that your payout is based on your final salary irrespective of how much money is actually in your pension pot. To all intents and purposes those are unfunded as well and represent a very large future liability. This future unfunded liability is why private sector pensions stopped final salary years ago."When baby boomers were working the system had more paying in than taking out, trouble is in time of plenty they never invested the funds, its been badly managed. | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"Review will look at bringing forward plans, meaning millions born in 1970s waiting longer to draw pension. https://www.theguardian.com/money/2021/dec/15/increase-uk-state-pension-age-68-could-come-eight-years-early-review?CMP=Share_AndroidApp_Other A man living in the London borough of Westminster could be expected to live until the age of 84.7 years, in Blackpool it would be 74.1 years - not much time for the poor chap from Blackpool to enjoy his pension if he only retired at 68! The UK already has one of the lowest pensions in Europe and the government is now considering bring forward the date at when the pension age is 68. The triple lock was dropped this year due to higher wages yet, inflation is running at its highest in 10 years so those high wage increases are needed to keep up (or perhaps have helped to drive inflation). ...not everyone can afford a private pension to supplement the state pension. Are pensions and retirement a thing of the past? Why can't the 6th Largest economy in the world afford pensions?
The pension system was never designed to support a large number of older people. It has essentially been unfunded since inception. This means that as liabilities rise (older people are not dying as often as they used to because of better medical care) then the general tax base needs to pay for it. The problem is that the tax base is increasingly reliant on a smaller and smaller (relatively) base of working age people to pay that deficit. This becomes increasingly unsustainable and hence why governments are trying to extend the working age to offset it.
In addition the state is responsible for public worker pensions and lot of those are final salary which means that your payout is based on your final salary irrespective of how much money is actually in your pension pot. To all intents and purposes those are unfunded as well and represent a very large future liability. This future unfunded liability is why private sector pensions stopped final salary years ago.
When baby boomers were working the system had more paying in than taking out, trouble is in time of plenty they never invested the funds, its been badly managed. "It was fundamentally mismanaged from the very start and is not actually that generations fault. It is actually the fault of their parents generation. They are merely the lucky recipients of that mismanagement. | |||
| Reply privately | Reply in forum | Reply +quote |
"a new strategy is being discussed whereby people becoming inactive by retiring early will be required to to undertake mandatory community service in ethe region of 20 hours per week until retirement age. "The strategy that needs to be enacted is for people to properly fund their old age. That is the only way it will work but that has always been politically very difficult for parties of all sides. | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"a new strategy is being discussed whereby people becoming inactive by retiring early will be required to to undertake mandatory community service in ethe region of 20 hours per week until retirement age. "I doubt that very much! Source? If someone works 40 years starting at 16 and retires early at 56, would they them have to work for another 10 years to "do time"? On the other hand, someone who goes to college, takes a few years out, goes back then decides to do a degree at University, takes a few extra years to finish. Starts work mid to late 20's - let's say 28. Works until retirement age of 66 ie 38 years... Both reach the age of 66 to draw a pension yet one works 38 years and other 50 years. Life's a bummer, and then... you die! | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
"the conservative thintanks investigating this on behalf of the government are convinced it will increase gdp dramatically along with the total tax take. when retirment age is raised to 68 they see it as the only viable tool left in the box. "We are in such a state that we must force the elderly to work longer.. How badly run is this country. | |||
| Reply privately | Reply in forum | Reply +quote |
"a new strategy is being discussed whereby people becoming inactive by retiring early will be required to to undertake mandatory community service in ethe region of 20 hours per week until retirement age. "or they could drop their hours to 20 and not retire early lol | |||
| Reply privately | Reply in forum | Reply +quote |
"a new strategy is being discussed whereby people becoming inactive by retiring early will be required to to undertake mandatory community service in ethe region of 20 hours per week until retirement age.
I doubt that very much!
Source?
If someone works 40 years starting at 16 and retires early at 56, would they them have to work for another 10 years to "do time"?
On the other hand, someone who goes to college, takes a few years out, goes back then decides to do a degree at University, takes a few extra years to finish. Starts work mid to late 20's - let's say 28. Works until retirement age of 66 ie 38 years...
Both reach the age of 66 to draw a pension yet one works 38 years and other 50 years.
Life's a bummer, and then... you die!
"relative 40 years old and still not actually ever done a job for more than 12 weeks | |||
| Reply privately | Reply in forum | Reply +quote |
| |||
| Reply privately | Reply in forum | Reply +quote |
| Post new Message to Thread |
| back to top |  |
