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?

I don’t think we can afford any of it as we are skint, but the pension increase should be the most disposable as it is benefitting the wealthiest recipients (on the whole).

No because you’re being careful not to. Your intention is clear though. Answer the question about which other non means tested benefits you think should not be increased as they are unaffordable, and I guess you can prove that wrong. Or not.

I’m happy for it to go up. I will be extremely pissed off if, after paying my tax & NI, they abolish or means test it before I get it in 2043.

I’ve been led to believe I will get a state pension so I want it.

I don’t think any non means tested benefits should rise at the moment as we cannot afford it.

So you think pensions should be means tested then? Why not just say that?

We have the lowest pensions in Europe. Would you rather pensioners starve or freeze to death?

If you pay in for 35 or 40 years you might not be in a good position to work after 67 either. The pensioners that also have a private pension will be paying tax on the pension so a big chunk goes straight back to Hunt. The mark of a civilised society is they look after their elderly and disabled. Why don't you agree with this. Pensions in the UK are among the lowest in Europe. Pensioners might not agree their taxes should be used to subsidise childcare places for 2 and 3 year olds, particularly as they would have had to pay for any childcare they used themselves. No government support when their DC were young. Both views would be mean spirited and wrong.

Worked since you were 14? Babysitting? Paper round? No you have not been working and contributing income tax since you were 14 so stop lying.

So in fact, it IS old people you object to.
You just haven't said so in so many words.

We turned our heating off before we really wanted to.
It's not possible to heat our little bungalow and buy food as well.

Why would they starve and freeze to death? I’ve made it very clear I think it should be means tested. Anyone who doesn’t qualify will not starve or freeze. The hysteria on here is wild (as is the paraphrasing 😳)

Glad to hear that you're not agitated by means-tested benefits, OP. Surprised though, given that means-tested pension credit is only about £3pw less than the full state pension that you are so agitated about.

I retired last autumn at age 66 having been sold a dream when I was a teenager that that I would be able to retire at aged 60.

I am now in receipt of my state pension, the enhanced mobility rate of PIP (because I am disabled) and a v. small index linked local government pension.

I am really fortunate in that I managed to hang on to my property that I purchased with a mortgage in 1989 through the ridiculous interest rate rises a year or so later and finally paid off about 8 years ago so it's now mine.

So, while I don't need to pay any rent or mortgage, and have a nice amount of savings, I am grateful for the extra £100 per month I will be receiving (after tax) thanks to the increases in the state pension, the local government pension and the PIP mobility payment.

It means I can allow myself to keep the heating on a bit longer (given this spring is rather damp and wet!) and cope with the ever-increasing food prices (and shrinkflation) we are seeing in our supermarkets and corner shops. And, perhaps, go out for lunch at a cafe at some point when the weather is better...

Better that I am able to live independently than than making me a burden of the state by putting me in a workhouse?

Right, so I'm late 30s, have already been working full-time for 20 years with no years off and will, according to various analysts and think-tanks, be forced to work until I'm 74 before being eligible for a state pension.

The fact that your generation consistently voted for governments who didn't plan on how to fund the state pension (especially when it's been known for years there was going to an aging population issue) shouldn't be my generations burden to bear, so you can sod off.

To borrow a phrase from your generation, maybe you should have got a better job and saved more if you wanted a good pension.

So how are you going to means test?

I’m 62 and currently have 46 of years tax and NI contributions. I’ve always worked full time. By the time I get to the minimum age of 67 (God willing - my parents didn’t live till that age)I will have 51 years under my belt. I think I will have done my bit by then and deserve a pension to keep me when I’m too old and in too much pain from my chronic health issues to work.

Touché…

@GoodnightAdeline - you haven't made anything terribly clear. You've just huffed and puffed. The State Pension is something we all pay into through taxes, it's a contract with the government. It's not a benefit, it's our money. So we can't just change that contract on a whim. Look at the WASPI women scandal.

Boomers taxes paid for your education. They paid for your health care. They paid for you to have child benefit when you were a child. Even now many boomer's pay taxes that pay for your DC to go to school and others to go to nursery. Boomers did not choose when they were born. I'm a boomer and I'll be claiming my pension in 4 years time. I also have a Teachers Pension and income from btl houses. Because of this I'll be paying 40 percent tax on my pension. I don't begrudge this. Why do you begrudge boomers their retirement pension?

The fact that your generation consistently voted for governments who didn't plan on how to fund the state pension (especially when it's been known for years there was going to an aging population issue) shouldn't be my generations burden to bear, so you can sod off

And you can sod off with your assumptions.

We've always voted Labour.

There are some disgusting posts on here.

No wonder our government has been able to appeal to the politics of envy and a race to the bottom.

I’ve made myself extremely clear. You don’t pay ‘into’ anything, there’s no vault sat there containing everyone’s NI contributions. Today’s pensions are paid for by today’s workers, and so on.

Very well put.

Yes, thanks to my retired husband (retired at 50)
I can afford holidays, luxuries, have three different homes and not worry about supermarket prices.
Same point to my comment as to this thread.

Well don’t panic, if she hasn’t contributed her 35 years, she won’t get the full pension. And let’s not cloud the water with the socioeconomic reasons why women mainly go part time after having children 🙄.
In contrast to your MIL, you’ve presumably gone back full time and decided it’s ok that other tax payers foot the bill for tax free childcare for the children you have chosen to have. Swings and roundabouts really.