Pensions… again

My mother was born in 1927, lived through a world war, rationing, having their family home destroyed by bombs, as did her brother and contributed to tax and NI until she died. Her contributions funded pensioners of the future. I never heard her or her brother once moan that they shouldn't be contributing to the economy to fund pensions.

I would be interested to know op if you have parents or grandparents? Are you resentful of them in some way?

@GoodnightAdeline Maybe the state pension increase is unaffordable but I’d rather our collective taxes were used to prevent elderly people (and other vulnerable groups) freezing in winter or needlessly ending up in hospital due to, for example, hypothermia / anxiety / depression / malnutrition than some of the many other ways this government chooses to spend our money.
Annual rises are supposed to keep the state pension, benefits and wages in line with the cost of living although I imagine this falls short in real terms as it does for us all.
Sure, there may be some wealthy pensioners who can live well without the state pension. Not many will be magnanimous enough to decline it though. My guess is that the state pension will be means-tested in the future.

How do you feel about the reductions in NI contributions that have been rolled out since last year? They are 4% down now with the better paid workers making the biggest savings. Just wondered if you think this is affordable given the dire state of the economy. Of course we all know this is just an electioneering gimmick, perhaps honouring the pension triple lock at this point in time is too…

waves merrily

You mean the lockdown that we all endured?

You don't seem to understand that wealth is often down to luck and not age.

My husband died during lockdown, so the last couple of years of his life were fairly miserable.

He was brought up in a rural area. Left school at 15. (His parents wanted him to stay on, but the HT didn't think that someone from his background could progress: his parents were working class.)

Got the minimum wage as a forestry worker. Did 3 yrs in the army. Back to his home village and got the basic agricultural wage. Took whatever other odd jobs he could. None of them paid a pension - his NI contributions were supposed to be for that.

Went to night school. Sat the local uni entrance exam. Became a late entrant teacher.

When he retired, he got his State Pension plus a teaching pension of 8k. He was paying tax until the day he died, so from a monetary point of view, he contributed for 67 years.

If you assume that the majority of pensioners are well-off, it's because you're basing your ideas on your own social circle.

I'm in Scotland. Have never voted Tory in my life.

Theoretically, I get my pension in 3 yrs.

If you don't agree with the state pension, I assume you will be refusing yours?

Our state pension is one of, if not the lowest in Europe. It isn't a freebie you pay NI contributions to qualify for it. £221 a week is much less than the NMW for 37 hours a week, how do you expect pensioners to live, or do you want everyone who retires on a Friday to be exterminated by the following Monday?

Oh I'm absolutely fine. I live in a country where national superannuation has also just been increased, and I haven't heard anyone moaning about it the way you are.

You are ranting, you won't leave it alone even though the majority of posters disagree with you.

The UK state pension is a legal Ponzi Scheme.
if the government had invested my NI contributions into any worthwhile investment it would pay for my pension.
But arguably that’s what they did by investing in the country’s infrastructure. So you could say that my generation built the infrastructure that later generations enjoy, in return for the State Pension.

🤣🤣🤣

OP if your generation stopped buying cappuccino every time they walked to the end of the road, stopped paying others to paint their finger nails, and bought handbags from the market , they’d have a lot more spare cash 😂

How so?

Wow the replies on this thread are incredible! Can't believe the vitriol to a perfectly reasonable question!

Even the Institute for Fiscal Studies says the triple lock is unsustainable in the long term. It's not controversial.

8.5 million of whom, are pensioners.

@JenniferBooth yes agreed & I believe care workers should be paid similar to nurses and teachers with the same perks (like a pension). I wasn't bashing people on low incomes. I think the fact that pension credit exists highlights the fact that the current pension isn't enough to survive on. So I agree if should increase with current cost of living increases.

I'm not the one moaning on here because pensioners are getting a bit more money. I don't generalise about generations, either.

Also, and most importantly, YOU didn't do anything. You just lived your life under the circumstances that prevailed at the time. Austerity and Covid lockdowns happened to you - you didn't make policies to change them. Just as inflation and high mortgage rates happened to pensioners. We all just live our lives and do the best we can. Blaming a whole generation for government's mishandling of the economy and for what is passed on to the generation coming after them is equally idiotic whether the blame is passed from young to old or the other way round.

Apologies @rubylovexx that's what I meant. That pensions should remain and should continue to increase and if anything needs to give, it should be the child related stuff. As you said, the current pensioners didn't get that level of government assistance. If current generations are concerned there will be no pension in the future, they need to stop demanding support for everything so that there can be. Public funds are limited and if you're choosing to use your share when young for child costs then don't be surprised if there's not enough when you are old.

@toomuchfaff

"Are you annoyed that pensioners are getting an increase? Their gain isn't your loss? What are you moaning about?"

Actually their gain is all of our loss. The increase in state pension is funded by taxpayers, some as this thread shows are happy to see this prioritisation of Govt spending on state pensions and others who would rather see the money spent on other areas such as education or NHS.

But I either case the money comes from taxpayers.

Pension age comes to us all ..will you turn it down when you get there or give yours to charity

Sorry OP but the state pension is right for those that have paid their dues. I’ve paid NI contributions and tax for 43 years and will continue to do so for another 7 years. Once the state pension kicks in I will also continue to pay tax.

I appreciate that the age criteria changes as it has done for me by 7 years.

But also there are some of us who have not had children but continue to contribute to their education and general welfare due to our taxes, but fully acknowledge this is part of life and the future. Do you think I should ask for a rebate on my taxes as my lack of children means they don’t need education, doctors, dentists etc?

You don’t think it’s an indicator of general inability to manage things for the benefit of the country?

State pension is the lowest in Europe. Lots of people don't get the maximum anyway, particularly women who had carer's responsibilities.

Cannot believe this statement

Great Granparents