Over 50s to be made exempt from income tax

[SerendipityJane]

for a year.

Admittedly, the Express, so no basis in reality, but an interesting "idea" to tempt older people back to work.

Given that these people didn't give up work because they are loaded, not sure how many would take up such a generous offer.

Also not sure how 16-49 year olds would feel about subbing up this generation.

www.express.co.uk/finance/personalfinance/1720385/Income-tax-over-50s-exemption-Rishi-Sunak-work

For me, the real news here is the complete lack of connection between government and the governed. Never ends well, even if you do eat cake.

Says who ?

I don’t think anyone is going to remove something that people have spent 40 years paying for.

The NHS is a contract between old and young. The young pay on the understanding that they will receive when they are older. It is there basis of the NHS.

To remove the pension would mean that only people who started work after a certain date would not be responsible for paying it.

Sign me up! I'd love to work tax-free.

Maybe increasing state pension for every year you work past the 35 would encourage the over 50s to go back to (or remain in) work?

I've got 37 years contributions and (theoretically) another 10 years of work in front of me, paying NI which won't make a penny difference to my pension entitlement.

Reducing NI contributions after the 35 years would work for me as well.

You might want to check this. Prompted by another thread I checked my national insurance record and found that although I already have 37 years full national insurance and 3 years at a reduced level I need to do another 2 years to get the full state pension. Was shocked as I knew I was over 35 years!

less ageism, less thinking that 50 year olds have the same enthusiasm and energy as 20 50 year olds don't have the same energy and enthusiasm as 20 year olds is this what you meant to say? - Employers should want to employ people who as a group are low on energy and a bit meh? It's a hard sell when that's how a group want to describe themselves.

More likely it will be taxed to non - existence if you are above a certain income on your private pension. We have assumed we'll get nothing from the state pension in our retirement planning.

50 year olds don't have the same energy and enthusiasm as 20 year olds is this what you meant to say?

Speaking only for myself, there is a qualification:

50 year olds don't have the same energy and enthusiasm as 20 year olds - for the bullshit of "culture" and "values" that modern corpspeak uses in place of wages and conditions.

Well if we're making ageist generalisations I've heard a few people say recently that it's the 20 YOs that aren't willing to put the effort in, do their share of the unpopular jobs or use their initiative and will stand around waiting to be told what to do but expect a lot of give from their employer but not willing to return the favour.