Pensions… again

[GoodnightAdeline]

https://amp.theguardian.com/money/2024/apr/08/uk-state-pensions-benefits-changes-april-triple-lock-rise

Another pension increase we can’t afford when working people are grappling with the cost of the country.

What will be the endgame in all this? Where will we be in 20 years?

Lived under austerity all of my adult life to save the economy and was under house arrest for months to prevent a virus overburdening public health services and spiralling us into yet more debt. You?

Because there was a second state pension paid in addition to the basic state pension for those who had accrued it by paying the earnings related NI contributions, or from a private scheme if they elected to opt-out and not pay those extra contributions. Anyone who does not earn as much as the current state pension from other sources can claim the means tested Pension Credit.

Probably that those awful boomers haven't had the courtesy to die yet and save her taxes.

Funnily enough that was ALL of us.

Yes and lockdowns didnt come without a price either,

Some of us started our adult life in a world where the government invested money in the future of the country and its citizens.

Those who came of age during austerity probably had the benefit of schemes like sure start and the child trust fund while growing up.

Austerity was for me was it? Or was it the government putting us under the cosh to ‘make things better in future’ (with varying degrees of success)

For decades OP, we weren’t in a position to be paying the pensions of your grandparents (or grandparents or parents, or both, depending on your age) but we didn’t grumble endlessly about it - as seems to be what happens now…

(I won’t go into the fact that some of us couldn’t afford to have children and other major life decisions we made like that).

Great Granparents

Well no because you weren’t paying sky high rents, mortgages and living costs simultaneously post pandemic and with the economy well and truly pooped.

Cannot believe this statement

State pension is the lowest in Europe. Lots of people don't get the maximum anyway, particularly women who had carer's responsibilities.

You don’t think it’s an indicator of general inability to manage things for the benefit of the country?

Sorry OP but the state pension is right for those that have paid their dues. I’ve paid NI contributions and tax for 43 years and will continue to do so for another 7 years. Once the state pension kicks in I will also continue to pay tax.

I appreciate that the age criteria changes as it has done for me by 7 years.

But also there are some of us who have not had children but continue to contribute to their education and general welfare due to our taxes, but fully acknowledge this is part of life and the future. Do you think I should ask for a rebate on my taxes as my lack of children means they don’t need education, doctors, dentists etc?

Pension age comes to us all ..will you turn it down when you get there or give yours to charity

@toomuchfaff

"Are you annoyed that pensioners are getting an increase? Their gain isn't your loss? What are you moaning about?"

Actually their gain is all of our loss. The increase in state pension is funded by taxpayers, some as this thread shows are happy to see this prioritisation of Govt spending on state pensions and others who would rather see the money spent on other areas such as education or NHS.

But I either case the money comes from taxpayers.

Apologies @rubylovexx that's what I meant. That pensions should remain and should continue to increase and if anything needs to give, it should be the child related stuff. As you said, the current pensioners didn't get that level of government assistance. If current generations are concerned there will be no pension in the future, they need to stop demanding support for everything so that there can be. Public funds are limited and if you're choosing to use your share when young for child costs then don't be surprised if there's not enough when you are old.

I'm not the one moaning on here because pensioners are getting a bit more money. I don't generalise about generations, either.

Also, and most importantly, YOU didn't do anything. You just lived your life under the circumstances that prevailed at the time. Austerity and Covid lockdowns happened to you - you didn't make policies to change them. Just as inflation and high mortgage rates happened to pensioners. We all just live our lives and do the best we can. Blaming a whole generation for government's mishandling of the economy and for what is passed on to the generation coming after them is equally idiotic whether the blame is passed from young to old or the other way round.

@JenniferBooth yes agreed & I believe care workers should be paid similar to nurses and teachers with the same perks (like a pension). I wasn't bashing people on low incomes. I think the fact that pension credit exists highlights the fact that the current pension isn't enough to survive on. So I agree if should increase with current cost of living increases.

8.5 million of whom, are pensioners.

Wow the replies on this thread are incredible! Can't believe the vitriol to a perfectly reasonable question!

Even the Institute for Fiscal Studies says the triple lock is unsustainable in the long term. It's not controversial.

How so?

OP if your generation stopped buying cappuccino every time they walked to the end of the road, stopped paying others to paint their finger nails, and bought handbags from the market , they’d have a lot more spare cash 😂

🤣🤣🤣

The UK state pension is a legal Ponzi Scheme.
if the government had invested my NI contributions into any worthwhile investment it would pay for my pension.
But arguably that’s what they did by investing in the country’s infrastructure. So you could say that my generation built the infrastructure that later generations enjoy, in return for the State Pension.