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?

Gosh you are so unreasonable. What about other pensioners who get ill, need to pay a carer? Elderly are so vulnerable to diseases and mental decline at that age.

Tbh you do not sound like a very nice person. Blaming others and all that.

You can't do this stuff retrospectively. Each generation will make their choices based on what's on offer at the time. if you had been born earlier you would have taken advantage of what was on offer then. It's not the pensioners fault that those things were available to them and they aren't to you.

Are you basing your own choices now on what may or may not be available to your children when they are adults? Of course not, because you have no idea what will happen in the future.

I was sadly ill informed when I was younger. I had no idea about pensions, just that my employer paid one. I'm paying for that now because my workplace pension is pitifully poor (I would have paid more in if I had known what it would mean 40 yrs down the line) and I can't get a state pension until I'm 68.

@Blindering

''The standard of living now is vastly better that it was 50 years ago.''

then how come massive amounts of the younger generations can't afford their own house?

People accepted a lower standard od living and made huge sacrifices to buy a home. 36 years ago we bought our first home amd furnished it with stuff from friends and family. The only item we bought new was a cheap bed. We didn't have a tv for the first year. Did without a washing machine for more than a year and then had a gifted ancient top loader. We had one foreign holiday in the first 16 years that we were together. We lived off cheap food like mince. Those were the things we did to afford a very modest home and that was on a decent wage.

Would young people want to live like that these days? I'm not talking about people on the poverty line because that's not what we were. Many did that to buy their own homes.

If you are for real op I'm glad that I'm not as bitter as you appear to be. I suspect that you're on a wind up.

And for the love of god will you please learn to bold your quotes op.

@Blindering

''Changing the rules AFTER people retire, when they don’t have the chance to increase their savings or contributions any more causes hardship and is unfair.''

and increasing house prices so much that many of the younger generation isn't fair either and no younger generation can't cut their cloth as they don't have the same chance to save and pay into pensions and get similar returns. If pensioner got 300stg a week it is more than enough and the money was used to help the younger generation.

The government and pension providers don’t set house prices.

Would also like to add that my in-laws spent so much of their 'fortune' on in house care followed by nursing home fees that they had barely anything left.
If you're a pensioner, with nothing, you'll still get the equivalent care.

YANBU (but you're not allowed to say it out loud)

@Blindering

''OP, I don't understand the pure venom of some of these responses. I think it is misdirected to think current pensioners should receive less, but I understand the frustration with the clear intergenerational inequality in this country that a lot of people refuse to believe exists.''

I don't either and the irony is I have seen so many baby boomers write on mn before they are glad they aren't young or starting off as the younger generations have being given a bad hand and yet I am crucified for pointing it out.

You are not being crucified for pointing this out. You are being crucified for refusing to accept that you are wrong about the cause, and for deliberately ignoring the realities of how pensions work.

A bitter, judgemental and unpleasant OP.

YABVU.

Suggest you work harder or get a better job, then you'll have better provision when you are older.

@stillsleeptraining

YANBU (but you're not allowed to say it out loud)

Any chance you could elucidate? I’m sure a lot of posters would love to understand the clear, factual, well thought out reasoning that the OP is having difficulty explaining thus far.

OP you are jealous.
Don't be a hater.

The responses have been the same old predictable nonsense - but OP if there'd been a poll it would have been very much YANBU - people just don't want to read the deluded stuff that's all.

Just because you don't go into a care home doesn't mean you don't need care. My MIL lives in her flat on her own, and has a care bill of over £1,000 per month

Likewise. Mil is 94 and has carers in every day. She pays for it herself, over 1200 a month. I doubt she'd have enough help if we relied on NHS. The original poster of this thread is clearly young and without clue.

I am headteacher and I pay in close to £800 pcm into my pension fund, my employer pays in also!

I have worked bloody hard for my pension and will continue to do so until I retire.

By which time I will get a good pension, and one I deserve and have worked and saved hard for.

So you OP can wind your neck in!

@nodtik

I am headteacher and I pay in close to £800 pcm into my pension fund, my employer pays in also!

I have worked bloody hard for my pension and will continue to do so until I retire.

By which time I will get a good pension, and one I deserve and have worked and saved hard for.

So you OP can wind your neck in!

Well done. I hope you enjoy it for as long as possible.

Let the haters (OP) hate.

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

And you would have better uses? Disgracefiul.

What a beady-eyed, mean-spirited post,. OP

@knittingaddict I know there are some people these days that fritter money and consequently can't buy a house, but there are others, like me & my partner, who live frugally and still can't afford a house. Most of our furniture is second hand, all appliances we've had to buy are the cheapest we can get, we never go abroad and have had one holiday in the past three years, we don't drink at all apart from Xmas, we don't smoke, we eat cheap food (everything from scratch, lentils featuring heavily) and yet home ownership is not possible. We also both have a second part time job. The sheer amount we pay in rent takes a huge chunk of money, and makes it very hard to save. In contrast, my dad at my age has a mortgage on his own for a small flat in the south east and then met my mum and they were able to move in a few years into a 3 bed semi in the south West. My dad worked in a factory and my mum was a nurse, in a comparable job skill levels to me and dp now. They had to live frugally because of interest rates, but at least they had the opportunity to be property owners despite being working class. Now in their 60s they have paid off the mortgage. I feel like for my generation, even if we do everything right on paper and go to university and work hard it's still not enough to accomplish having a decent standard of living owning your own home. I know it's anecdotal, but personally, I feel like gen x and millenials have been dealt a bad hand.

I'm not saying I agree with the OPs novel ideas for wealth redistribution, but it gets very tiresome sometimes the trope that we're just not trying hard enough.

Op, I really feel that you are way over invested in your neighbours business.
You are obviously very bitter and jealous.

Why not take up gardening in the home YOU own ? Or take up knitting ? Painting, volunteering ? Anything that will give you another hobby, the one you have is really not healthy.
I will never be able to buy a home as I have nothing. I don't think I made bad choices at the time but the jobs that I worked in paid crap money and didn't offer any pension scheme.
So Thank God I am nearly 60 and in poor health so I won't be scrabbling around on the pittance that i may finally get from the government.

However I won't be whinging and whining about people having more money than me as that has been my entire life.
Life is not fair and I don't know anyone except you that seems to think it could be.
Just as a matter of interest are you willing to give up your home and your pension money in order to help fund someone else ?
Probably not eh ? 😉

@Blindering

''Me and my partner rarely go on holiday, eat out about twice a year and run a small cheap old car and are a million miles away from being able to buy, so it isn't a life of hedonistic luxury preventing us.''

and yet this thread has us believe those not on the property ladder or going into a good pension is at fault for not saving or investing in a good pension when it's already being pointed out it's different from the past.

100% of nobody has said you’re at fault for ‘not saving or investing in a good pension’.

But people have said you’re deluded to think retrospectively trying to control the past will do fuck all about the future.

you are young and inexperienced, and just a bit ageist. We've all been there. You'll grow up and get old, and then you'll be speaking from a platform of a bit more knowledge

Truth.

''100% of nobody has said you’re at fault for ‘not saving or investing in a good pension’. ''

go back and read the thread and many said it, they were corrected by several who pointed out it didn't work like that anymore as returns weren't the same and were ignored.

@NoSquirrels

This was a good question from ajandjj

OP - say you save into an interest-bearing account, how would you feel if someone came along when you were about to retire and said there was more money in there than you needed, so decided to take some to distribute to others.

Would you be happy with that?

Third time’s a charm, Blindering. Any thoughts on @ajandjjmum original think-piece poser?

@Blindering

''100% of nobody has said you’re at fault for ‘not saving or investing in a good pension’. ''

go back and read the thread and many said it, they were corrected by several who pointed out it didn't work like that anymore as returns weren't the same and were ignored.

Feel free to quote them.

There’s a button for it. Three dots at right side of the original post.

Happy to wait.

Headnorth said it as did 2 other posters, too tired to go back ad look.

@Blindering

Headnorth said it as did 2 other posters, too tired to go back ad look.

I read all those. HeadNorth was agreeing with you not saying you needed to save better so

say you save into an interest-bearing account, how would you feel if someone came along when you were about to retire and said there was more money in there than you needed, so decided to take some to distribute to others.

Would you be happy with that?