To think the old style pensions should be capped.

[Blindering]

ok, I am in Ireland so unaware of how UK pensions function but my neighbour who worked as a college lecturer but retired in 2008 in his 70s gets 600 euro a week in pension, equivalent to 513 stg.
This is on top of a 150k pay off he got when he left the job which I believe all civil servants here were getting.

But aibu to think a bachelor living in a house with the mortgage long paid off has no need for over 500stg a week? Like what would one need the money for at that stage in life?

Was it not part of his contract of employment and taken into account in the overall remuneration package?

Yabu? You don't know what his costs are. And you don't get paid based on what you need? I don't pay more to the guy in my team who has a young family more than than the young single woman, because they both do the same work.

Edit: just to note I say 'old style pensions' because I don't know if they have being changed since he retired for the next generations but in general I think it's madness that people in their golden years are getting whopper pensions every week. Seems wasteful.

Yabvu

Yabu.
Imagine all life working to have nice pension and then... Having shit because someone somewhere decided we all should have same nothing... Or even more. Because you are single and manged to pay off mortgage, you should get less.

It's absolutely none of your business.

I imagine he's getting back what he paid into his pension for all those years. Not sure why it's fuck all to do with you, but you sound incredibly jealous.

Also wondering why/how you know exactly what a bachelor in his 70s got from his retirement fund unless you've been through all his financial papers. I have no idea what my DAD got as a pension payout - never mind any of my neighbours.

''Because you are single and manged to pay off mortgage, you should get less.''

his generation got all the cheap housing here.

No, I think old style pensions should be reinstated for everyone.

This drive to beat down everyone else’s living standards is the equivalent of battery hens pecking one another til they have no curly yes or feathers left.

^in general I think it's madness that people in their golden years are getting whopper pensions every week. Seems wasteful.*

I’m sure you’ll feel the same way when you’re in your own ‘golden years’.

Bloody agist nonsense - he worked for it, he earned it under the rules, what’s it to you?

And how do you have such insight into the ins and outs of your neighbour’s finances anyway?

Is this figure state pension, pension from his college or both together? State pension is much less than that in the UK and I don't think many pensioners would get a private pension that high.

Even so, there are a lot of people of working age who have an income of over £2000 per month. By the time you pay bills, food, house maintenance or rent, a car and an annual holiday it's not that high. These items are payable regardless of age.
I appreciate he has no children to keep at that age, but nor do many younger adults. He has probably paid off a mortgage but some pensioners pay a mortgate or rent.
Why do old people automatically need less money? They may need to pay for care, cleaning or gardening.

''Also wondering why/how you know exactly what a bachelor in his 70s got from his retirement fund unless you've been through all his financial papers.''

he told me.

Not everyone that age will have a paid off mortgage. Many will be caring for even older relatives, or their spouses who do not have such a pension. When you start looking at people in terms of what they 'deserve' instead of what they worked for according to the terms and conditions of their job, you're creating an ethical and practical minefield. You sound a bit jealous.

It amazes me how people know so much about their neighbours. I just about know my neighbours names let alone their income.

YABU
In a utopia I would be all in favour of people having what they need, rather than acruing huge wealth (I'm not suggesting your neighbour has done so, however).

BUT more importantly, pensions are deferred salary - he has paid in to this pension throughout his working life.

''Not everyone that age will have a paid off mortgage.''

eh I struggle to think of anybody in their mid 70s still paying a mortgage.

Like what would one need the money for at that stage in life?

The stage of life when you've worked for 40 years and now are free to do what you want? I can think of loads to do with it. |

''The stage of life when you've worked for 40 years and now are free to do what you want? I can think of loads to do with it. |''

and the entire generation below them can't afford housing because the govt is paying whopper pensions to older generation.

Like what would one need the money for at that stage in life?

Wine, women and song.

Or, you know, all the same as the rest of us (food, bills, clothes, entertainment, presents for loved ones, holidays, house maintenance…) without the mortgage payment.

Is it a very small town where you live. ?

My Mum died a few years ago and I was absolutely gobsmacked by her retirement income, I only realised when I was sorting out her affairs. She retired on more than I have ever earned. I'm 50 and work part time and have never worked for an employer who provided a pension scheme. On the other hand she worked hard all her life and was always a generous soul, so I didn't begrudge her it. She was a telephonist and she also got a big chunk of my Dads pension, he died in his mid 50's so never got to enjoy his.

eh I struggle to think of anybody in their mid 70s still paying a mortgage

My mortgage will be paid back when I'm 77. You can actually get a small mortgage at 70.

@Blindering

''Not everyone that age will have a paid off mortgage.''

eh I struggle to think of anybody in their mid 70s still paying a mortgage.

PLenty of people that age never bought a house, never had a mortgage; so they'll be paying rent all their lives.

Out of their pensions.