To think state pension needs to be means tested , most sill claim way more than put in due to life expectancy. The current simply can't afford it anymore, it's out biggest single outlay..

[wishedforchild2016]

Aibu ?. Interested hear opinions for/against..

Yes it will be, that’s why we now have auto enrolment. Government will set up for, say, 15 yrs time with a very high income level to start and pension reviews will bring it down over time.

I haven't been paying NI contributions since 1979 in order to get fuck all at the end of it.

So I agree, it’s unaffordable.

Problem is - how far do we push the middle classes in paying more and more tax, to receive less and less in return from the state they’re funding?

I thing means testing will be a massive deterrent to low and even middle earners to save

I think a system you pay into and can get support from has better buy in from society as a whole and I think it woukd break the social contract

I think it is means tested in terms of tax as the bigger incime the more tax the pensioner pays.

I could just about see carring on with NI contributions.

I cam also see taking away triple lock so the pension is universal but has less value, then having pension credit to stop poverty.

Apologies for spelling errors in subject box ,can't seem to edit for some reason. Hopefully get gist.

So, in my case, I worked since aged 20 full time until 67. I had 2 short mat leaves (less than 6 months each), paid for childcare in full ( not eligible , just, for tax credits), paid my NI plus saved hard for a private pension. Had a decent life, comfy but not wealthy
so now because I’ve chosen to prioritise paying into a private pension I forgo my state pension???
thats fair not!!

With the changed demographics we cannot afford the state pension & healthcare models. People need to pay a lot more, everyone needs to, not just young people.

It should be like other European countries where what you get is based on how much you paid in.

Triple lock needs to be paused

The problem is the middle and higher earners are not going to want to pay in to receive nothing or less than those who don’t pay in.

We are heading towards disaster though, the generation after mine are known as generation rent. With a low birth rate. What happens when this generation, with no property to sell to pay for care and a declining working population need a pension/somewhere to live.

YABU, you can’t pull the rug out from people like this, it’s part of the contract the state has made with the people. It would result in the collapse of saving among the low and middle earners. I think any government that tried it would find itself with a poll tax moment - they’d certainly be swiftly voted out and find themselves in the political wilderness for at least twenty years.

Don't be ridiculous. Why should I have paid in all my working life just to give my pension away to those who have less money than me? I've already funded the benefits systems, social care etc. so you are not taking my paltry pension.
The UK has the lowest pension in Europe and we don't get it until we are almost dead as it is!

To clarify I’m not 67, I’ve got 9 years to go but am planning to carry on working until then. My DH is planning the same. My DM has dementia and in a care home, my FIL has Parkinson’s and in a care home . I am well aware how much care costs and want to ensure we are in a position to pay for care.
why should I be penalised for working and saving after the event?

Can DH get a refund? He died before he was ever able to claim

it’s part of the contract the state has made with the people.

the state broke the contract with young people some time ago...

Not affordable for those countries either. State pension is effectively a Ponzi scheme, and it will fall apart at some point given declining birth rate.

Maybe you should just get out what you put in??? That may solve the issue 😂

I think a lot of people fail to understand the state pension in the UK, there is no personal pot paid by anyone, its a benefit in the same way contributions based JSA is. “I’ve paid for x years” yes you’ve paid NI that isn’t a pension pot and if you put that each month into a pension it would likely be worth less than the state pension.

I’m surprised it isn’t already means tested, I assumed from a young age I wouldn’t get it due to what I pay into a private pension, so my pension play is all based around not having it.

The UK has the lowest pension in Europe

Lacks context.

Private pensions are far more common here vs other countries (except Germany)

And crucially the UK has a flat rate whereas other countries base the pension on what you actually earn.

Plus lower & middle earners pay more tax

here we go again, bashing pensioners. There are many things wrong with the whole of the welfare system, as we all know, and much abuse of it. People can't choose whether they get older, but they can choose how many kids to have, whether to keep themselves healthy and fit (most people), whether to work, etc etc. Pensions are paid to those who have paid into the system, unlike many other benefits.

@Labraradabrador but more affordable than our model

I actually don’t think you can means test it when people retiring have a contribution based pension pot. They would just chose not to take much out so they qualified for the pension.

I think any government that tried it would find itself with a poll tax moment - they’d certainly be swiftly voted out and find themselves in the political wilderness for at least twenty years.

Which is why no government can actually have a hope of trying to change things & increase productivity

I don't think it should be means tested for people who have been working with the understanding they will get a state pension. I think it would be fair to say that state pension will be means tested when today's 18 and unders retire but I don't suppose the government are all that interested in what will happen in another 60 years.

Its like that in some countries.