Parental income

[glassdarker]

So, context, just seen 10% pension increase.

At same time I've been talking about doing something jointly with my mum and dad. So as a result we talked about income. My parents worked in manual/ administrative roles, neither went to Uni, but worked hard all their lives. Retired ten years ago, own house and car. I appreciate that many pensioners won't be in that position.

They both have small final salary schemes (one less than 10k, one less than 20k). They both get full state pensions. After normal bills their disposable income is a 2k a month. 2k a month ! I am blown away !

But bloody hell we are both higher rate tax payers and we are counting every penny (though we have a lot of extra spend due to a disabled DC). But AIBU to be a bit shocked by the difference in how we are experiencing the cost of living crisis ? I am glad they are doing OK and we don't need money from them but I am still a bit jaw dropped by this... and fantasy spending even 1/4 of that monthly disposable income !

In your own words, your parents have worked hard all their lives. For I'd guess about 50+ years?

Yet you begrudge them their retirement and pensions? After they brought you up during really financially difficult periods (such as miners strikes etc curing the 70s). Contributing tax and NI.

You sound like a lovely daughter.

Would that be "fair"? How about childfree getting a big boost in payout because they haven't cost society as much as parents have, all these years?

The older generations have had far more dc then the younger ones, birth rates have fallen off a cliff & will continue to do so due to col.

You will no doubt inherit a big chunk of your parent's assets

That's a huge part of the problem. What about the people who can't inherit from parents?

And children cost money but they're also tax payers of the future!

And pensioners are the taxpayers of the past and present. You can’t just dismantle the bits of the social contract you don’t like, it’s all or nothing.

Only for those who retired after April 2016. Those who retired before that date are on lower pensions. They did that so they wouldn't have to pay pension credit to as many pensioners

@Wishawisha even in the public sector the pension schemes aren't so generous for recent entrants.

For fucks sake it's not a fucking competition. I am so sick of hearing jealous people moaning about pensioners.
My DH is a pensioner and gets £734.00 every four weeks plus £120.00 private pension every month. He's worked for over 40 years but unfortunately couldn't work for 12 years due to ill health and couldn"t claim any benefits which means I have to work until I'm 70 to pay our mortgage.
The reason some pensioners are well off is because they were financially savvy while working.

Many of the people on tax credits didn't pay enough NI to get a full state pension. They already get lots of benefits others dont. Do you really want to punish those who paid in at the expense of those who didn't?

And pensioners are the taxpayers of the past and present. You can’t just dismantle the bits of the social contract you don’t like, it’s all or nothing.

The social contract has already been dismantled for much of the young

Has it? In what way?

The reason some pensioners are well off is because they were financially savvy while working

That's rubbish! Some is simply luck of the housing market

Yeah that’s the ‘golden generation’ who lived at one of the luckiest times in history. The vast majority of British people are poorer than their parents were.

My great-uncle drew a very generous state final salary pension for nearly fifty years. Nice.

I fully expect the generation being born now to scrap all state pensions and tell us to sod off, on the basis of climate change.

And children cost money but they're also tax payers of the future!

They're also the non-workers, burglars, scammers and the ones going in and out of prison all their lives. Laughable how everyone assumes that all these children are going to be model citizens.

@Blossomtoes

state pension age increasing when healthy life expectancy hasn't.

You can add lack of social housing, housing costs, no growth in wages.

The meanness here....

If people have good private pensions they've worked for them for a long time. If they get the full state pension then they've contributed for a long time.

They've worked, paid their mortgage, raised kids, etc. So they've got good disposable income then good for them.

They're also the non-workers, burglars, scammers and the ones going in and out of prison all their lives. Laughable how everyone assumes that all these children are going to be model citizens.

But surely this can be said of some of todays pensioners or is coming crimes or not working a new thing?

The meanness here....

I think it's dreadful to heap some much onto the young when things like free prescriptions at 60 won't exist for them. It's likely the NHS won't exist in its current form.

I think you’ll find it’s not younger people that’s happened to. I expected to get my state pension when I was 60 when I started work 52 years ago. When I was 43 it moved to 61. When I was 59 it moved to 65. Lack of social housing, housing costs, no growth in wages affect people of all ages.

I was responding to the time-worn argument that its worth spending money on children now because they're all going to be find upstanding citizens dutifully paying their taxes and we need them because of a decreasing birth rate and people living longer. It always assumes that all these children are going to turn into those fine upstanding citizens when obviously some of them won't and won't contribute.

MrsDanversGlidesAgain · Today 16:14

And children cost money but they're also tax payers of the future!

They're also the non-workers, burglars, scammers and the ones going in and out of prison all their lives. Laughable how everyone assumes that all these children are going to be model citizens.

I hope this is a joke? This is the most ageist post I've seen in bloody ages!

Exactly. The pensioners paid into the scheme in good faith; changing the rules on them because of envy and begrudgment is patently unfair.

Children MAY be the taxpayers of the future if they don't end up as dependent adults, criminals, unemployable, teen parents, addicts, etc.; it's hardly a given. Look at how many people do not pay now, and what a shit job millions of parents are doing.

They should 100% be means testing additional help for pensioners. Mine are lucky baby boomers and very comfortable. My inlaws have about 6 holidays a year. Neither of them need any more money. There are people far more in need.

Then again, "the young" have had more opportunity to attend university, benefit from cancer treatments their elders could only dream of, have access to more affordable travel and enjoy technology that seems like something out of a sci-fi movie to many who grew up in the pre-digital era.

For every supposed downside to being a youngish adult today, there are many upsides.

Also, it's always overlooked, but the global population has doubled in the past 50 years. If you think that competing for dwindling resources with an ever-burgeoning group of other humans is actually going to become easier, dream on.

Everything from potable water to fossil fuels to food to shelter is going to be even more expensive and inaccessible as the years go on, because we have bred ourselves into commodity status and there is alway someone out there among those 8 billion who will do the job cheaper and accept lower lifestyle, because of survival.

Anyone who thinks life "should be" easier for each succeeding generation is ignoring the reality of overpopulation and competition on an ever-shrinking, ever-heating globe.

Maybe they’ll give you their extra £16 a week if you ask nicely.

I hope this is a joke? This is the most ageist post I've seen in bloody ages!

How so? I'm simply pointing out that not all children are going to grow up to be the dutiful contributors to society some people think they are. What's ageist about that?

And frankly, you think that's ageist, you haven't read some threads about pensioners.