AIBU to wonder why a pensioner struggling financially would not use housing equity?

@ByTheSeas I'm stating a fact. Many people didn't have those things until later back then although I admit the ILs were a bit quirky. It wasn't about money although they'd have had others think it was.

MIL thought TVs were a negative thing that stopped dc from playing and reading (old fashioned teacher)
FIL didn't much like the telephone and never used it.
FIL onlyn learnt to drive when the bus route changed.

In the 60s it was fairly common for people not to have telephones, cars, tvs. I accept the ILs were outliers.

Also often forgotten is that women had few rights. MIL became pg in 1960, DH born Aug 61. MIL was a teacher. She had to leave her job Easter 1961, before she looked "unseemly". No mat pay, no mat leave, no entitlement to her job back. No TV until 1974, no phone until 1978, no family car until 1970. She was evacuated from her family during WW2.

IHT on unused pensions: does not affect pensioners, it affects their beneficiaries.

IHT thresholds frozen: as above

Tax allowances frozen: welcome to the world the rest of us inhabit

House sale funds: what do you mean by “effectively”? It either is or it isn’t, where’s your evidence?

Proposed council tax changes: “proposed” is the operative word here, and again, welcome to the world the rest of us inhabit

PPT or LTV: again, “mooted”, and again, that would affect everybody

Retirement ages change: I doubt the current cohort of pensioners need to worry about that, do you?

Is the above literally all you could come up with? Some policies that make absolutely no difference to pensioners, but affect their beneficiaries. Policies that do and will affect us all, and a change in retirement age that will have absolutely no impact on the current cohort of pensioners?

Give me a break. Was perpetual victim hood taught in schools or something?

The only statistical fact that has so far been provided on this thread was by me: only 36% of the cohort born between 1937-1946 were in FT work for more than 75% of their adult lives. That’s it. So all this guff about current pensioners having worked all hours and poured blood, sweat and tears is nonsense. As a cohort, you most certainly didn’t. And seeing as we can’t make policy decisions based on Sally next door, we need to make them based on trends.

Now I appreciate that is difficult to swallow because for some reason so many of today’s pensioners act like they were on the front line or something, but these are the facts.

I am paying the appropriate, proportional rate of tax for my income. Just like you should be. Except I don’t moan about paying it.

The invlusion of pension pots in tje eatate for IHT was to close a tax avoidance loophole that opened up after the pension freedoms brought in by George Osbourne. Previously you had to use a DC pension pot to buy an annuity, but that was changed to allow people more freedom, so they could leave money in the pot or draw out lump sums from the age of 55 to spend on what they liked. As they were not counted in the estate for IHT purposes but could be used to store money (and there are great tax breaks for lutting money in to them), they became a great tax dodge for high earners.

It still won't affect that many people as you woild have to be pretty well off to have a DC pension pot that you a. don't need to use to fund your retirement and b. that is large enough to tip your estate in to IHT.

Have you considered that the reason why a smaller proportion of people born1937-46 were in full time work? I would think those were mainly women, as many men of that age were very much of the ‘breadwinner’ mentality.

Looking after a home and family has certainly changed in my lifetime, born in ‘46, and even more so for those older than us. No fridge, no freezer, no washing machine, no microwave, no car, no supermarkets, no convenience foods. Few homes had central heating, many had no bathrooms or indoor lavatories. Clothes were often hand sewn, or knitted. Women often looked after older relatives who lived with them.

Life has become much easier in those respects, far less labour intensive, allowing younger generations of women to use childcare and develop careers, and therefore work for a bigger % of their lives.

IHT on unused pensions: does not affect pensioners, it affects their beneficiaries.

IHT thresholds frozen: as above

Tax allowances frozen: welcome to the world the rest of us inhabit

House sale funds: what do you mean by “effectively”? It either is or it isn’t, where’s your evidence?

Proposed council tax changes: “proposed” is the operative word here, and again, welcome to the world the rest of us inhabit

PPT or LTV: again, “mooted”, and again, that would affect everybody

Retirement ages change: I doubt the current cohort of pensioners need to worry about that, do you?

Is the above literally all you could come up with? Some policies that make absolutely no difference to pensioners, but affect their beneficiaries. Policies that do and will affect us all, and a change in retirement age that will have absolutely no impact on the current cohort of pensioners?

Give me a break. Was perpetual victim hood taught in schools or something?

The only statistical fact that has so far been provided on this thread was by me: only 36% of the cohort born between 1937-1946 were in FT work for more than 75% of their adult lives. That’s it. So all this guff about current pensioners having worked all hours and poured blood, sweat and tears is nonsense. As a cohort, you most certainly didn’t. And seeing as we can’t make policy decisions based on Sally next door, we need to make them based on trends.

Now I appreciate that is difficult to swallow because for some reason so many of today’s pensioners act like they were on the front line or something, but these are the facts.

How does it vastly benefit me? I get SP. I have a PP and 50% of my late husband's PP. I pay the right amount of tax. FFS explain how I'm vastly benefiting ? And I do want you to tell us what your solution would be.

I am paying the appropriate, proportional rate of tax for my income. Just like you should be. Except I don’t moan about paying it.

No. Because you don’t want a solution. Why change a system that vastly benefits you, eh?

I know how taxes work-why are you assuming I don’t? I still don’t agree with you. I am a homeowner, have a DB and a private pension, have investments and savings, and I still don’t agree with you.

But I love that you assume I must be poor because I want equality.

It would be lost on you.

It would be lost on you.

So your solution is ......

My dad worked from the age of 14 when his own father died. He worked until the age of 66 and died of a heart attack at the age of 68. That still doesn’t change my viewpoint. Because the UK government cannot base policy decisions on my father’s or my circumstances.

Income tax is one thing. Other taxes arising from earnings that have already been taxed is another. Pensions are the exception to that because of the tax breaks involved and I've no beef about the IHT on personal pensions.

We pay all taxes that we are legally required to pay and have never endeavoured not to do so.

My husband worked in the chemical industry from age 15 to 65 and died from pancreatic cancer at 67. He didn't take much from the system so that should please some of the know it alls on here.

I am paying the appropriate, proportional rate of tax for my income. Just like you should be. Except I don’t moan about paying it.

only 36% of the cohort born between 1937-1946 were in FT work for more than 75% of their adult lives.

That will be because a lot of them are dead, particularly those who were miners (remember them?) and other manual workers and women live longer than men so are over represented in that cohort. Women frequently worked part time

Current pensioners were predominantly born between 1945 and 1960, do you have corresponding figures covering that age group?

Is that an inference that we have never supported society.

Come on why don't you tell us how old you are, what you earn, how much tax you pay and how much you have had in UC/free childcare/tax credits, etc. How much you are paying into your pension and how old you were when you started.

Tell me you don’t understand how statistics work without telling me you don’t understand.