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?

OP, many younger people regard it as normal to do A'levels and a degree, not actually making it into the workplace until they are 21 or 22.

I'm 60 and already have 43 years NI paid. Eight more than I need to claim a full pension. I've no plan to retire yet so if I work another 7 years I will pay 50 years NI.

I've paid higher rate tax for 34 years. Not worked part time when I had small children at home, nor taken a 'gap year'.

At what point does that justify my state pension in your mind? How old will you be when YOU have 50 years NI paid?

You are being extremely short sighted. Don't you realise that the state pension you will receive in the future will be based on the state pension today plus any further additions over the years.
You are short changing yourself in your future years.

Because they have completely different economies, demographics and structures? Saying we can just copy other countries is so simplified as to be nonsense.

No they don't Same demographics, same service based economy with declining manufacturing. There's no reason why we shouldn't keep our elderly from starvation.

Don't make the fairly basic mistake of thinking that if we didn't increase pensions then the money saved would go to the NHS.

In 30 years time I hope to still be alive to get what's left of my state pension.

For that reason I'm against any weakening of state pension provision.

It sounds like you're financially better off than me if you are in favour of taking steps that will negatively impact your state pension provision when you get to retire. Congratulations, I guess. :-)

What makes you think that? Where is your evidence to back up your thinking? Or do you not really have any and you are just spouting crap about something you are completely clueless about?

Because they have a totally different way of funding their pensions. You are comparing apples and pears when you look at other European country’s ‘state’ pensions. The employer makes all of their contributions into the employee’s ‘state’ pot in most EU countries. So you don’t retire and have a state pension and a private or employee pension, you just get a state pension based on what you, your employer and the government have paid in over the years.

Europeans pay LOTS more in than us, so the state pension looks higher.

They won't if they fall for the 'we can't afford it' line, continue to refrain from voting, and get the pension phased out. The fact that the pension is a ponzi scheme is not the fault of pensioners, who just did as they were asked when they were working and able to contribute. Blame governments for making a hash of things, not the people who have contributed for decades.

The same is true of the NHS and education, so the people you would see struggle in their old age are the ones whose tax/NI paid for you to be born, your childhood vaccinations and any other healthcare you needed before you started paying your way, your education and any other public services that you used in that period. I vote for you to sod off too.

Prove we will be able to afford it? Any decent projection says we can’t.

So I’m 10 years off my pension having paid taxes all my life, had no free childcare, lost CB (which is starting up again for our bracket) have to fund our kids through uni, support parents in old age and contribute towards other state benefits but now apparantly we should just forget about our pensions. Err no thanks.

Couldn't have put it better myself.

How old are you OP, and how many years NI have you already contributed?

This isn’t about morality or anything like that, it’s about affordability. Pension liabilities are bigger than our GDP, is that sustainable in your view?

Both major parties support the triple lock as do 91% of posters on your thread.

YABU

You'd hate me, then.
I get a pension, my husband gets a pension, we both get PIP and we get pension credit.

Why would I hate you?

No it isn't about morality. It is about fairness.

I note you are avoiding telling us your age or how many years NI you have contributed to the pot, which I assume means you haven't put in much.

Rather than targeting pensioners, I suggest you take a close look at yourself and considered how much YOU have contributed !!

Projection based on what? A nation’s finances are not like a household’s. They just aren’t. We can afford whatever we decide to afford. Though if some effort were put into improving the country rather than Tory MPs’ mates bank accounts it might be easier.

Heavens.
Because you are always complaining about benefits, especially pensions.

What money has gone to their mates bank accounts?

And I am utterly sick of seeing ageist posts on here.

I’m 32, and I’ve contributed 13 years.

Gosh anyone would think my AIBU was ‘let’s abolish the state pension starting tomorrow’

Don't give us that faux-naive response.

@GoodnightAdeline what is your solution then?

a) we pay a shitty pension, compared to other countries, to keep pensioners alive or b) we let them freeze or starve

I'm interested in your plan c.