AIBU to think that I shouldn't have bothered working and paying into National Insurance for the 35 years I have done so?

[HauntedBungalow]

When all I will get is the bare State Pension. Whereas other people who did not make these contributions and/or did not work will get Pension Credit plus all the other nice little add ons like Council Tax Support, free boilers and now Winter Fuel Allowance? AIBU to think I'm a mug for bothering to work all those years?

The problem is how NI was handled at the end of the baby boomer era

Bare with me:

Obviously the idea of NI is that you pay in when you can, and take out when you need.

Mostly, this means people will pay in when they're younger and working, and take out when they are old, retired and have more health care costs.

My parents' generation are now retired and taking out, but that generation never paid enough in to cover the obviously, predicted cost they would need.

Instead, during the 80s and 90s, they were only paying in enough to cover the costs of the older folks who were taking out then. The ratio of payers in to takers our was pretty good - lots of workers and not so many pensioners to put it over simply - so they didn't need to pay much NI, for the pensioners at that time to get a good deal.

Fast forward 40 years, and the ratio has flipped: in comparison there's now loads of pensioners and few workers.

Because the government is still forced to rob Peter to pay Paul (there's no other option now) there just isn't money to go round. Today's workers are taxed at a higher rate, and yet there's not enough money to look after our old folks.

I say no other option. The other way of improving the payers in to takes out ratio is mass immigration of working age people, but we all know how that has played out...

It didn't have to be this way. It was already clear 40 years ago what the demographics were looking like. The government knew how many babies were being born and would end up shoulding the cost.

Other countries, like Germany, planning ahead, got the workers in the 80s to pay more tax and saved / invested that money, which it is now using to fund better service for their older people.

So in conclusion, I blame my mum and dad's generation for voting for Thatcher's economically illiterate tax cuts! 🤦‍♀️

I agree, the whole thing is thouroughly depressing. I work my arse off for very little, will never own a house yet pay around £250 pcm into my NHS pension, wtf am I bothering? My quality of life is totally shit and I could really use the money now. I will be screwed if and when I am ever able to retire and am suffering now for what?

If I live that long as am totally burnt out. Would be better off fucking it off and waiting for my pension credit to kick in

Epitomises the unfairness of it all. As they say, 'Comparison is the thief of joy'.
I can understand why you feel as you do OP. Same applies to other situations. Someone in my family working FT to support his family is worse off financially than another who chooses not to. As I said, very unfair. Don't let it chew you up. Take care

Exactly. Yay I get to work in a hot room, drive an old car, work out the logistics of work/kids/life, pay taxes and sell everything own if I end up needing care. Meanwhile my neighbours in the 8 years I have lived next to them have had brand new windows fitted, a new kitchen, new cars all whilst doing f all. What a joy to be the one paying for it!

Exactly...

Understandable that you feel like that. The system seems very unfair. Take care

It’s incredibly frustrating sometimes. My mum will lose her winter fuel payment, meanwhile ex MIL who has all her savings in her son’s bank account (over 150k due sale of land in her country of origin) gets pension credit and all the benefits that brings. Two of her son’s pay her bills and they never paid any tax or NI in the years they lived in the U.K. as ex FIL was self employed and just never declared any income. Makes you wonder doesn’t it, why you work so hard (she has never worked, ever).

Capitalism. We've never had a socialist government.

I voted reform, not labour. The only real chance we had if turning the country round. Yes I don't agree with everything they stand for, but labour or conservatives were never going to do what is best for the country as a whole

Ahhhhh, I have similar experiences. When my boiler broke I had to get a bank loan. I've worked overtime most of my life to keep the boat afloat (single mum).
Then there are people who choose not to work (or the min amount to retain benefits) and get everything paid for them. All so unfair

Indeed, so unfair

@Dinglednagledoo you are correct but it’s not a popular view.

Um... it was less than a month ago that the government changed. The last 14 years have been a conservative government who have left more people not working, a higher benefits bill and a larger national debt than ever before.
You can't realistically blame somebody other than the Tory government for this mess.

theres no pension credit with the new state pension….only for people on the old one

I hear you OP and feel as disgruntled as you and PP. Tbh I didn’t vote Labour as I expected them to penalise those who’ve worked.

When my boiler broke, I had similar circumstances. I used to think yes I don't claim everything for nothing, but at least I'll have progression, hard work, and a career to show for myself, which might lead to having a better life. But clearly nowadays, it doesn't count for much unless you're a ££££s earner and can afford to live well above the rest.

The reality is average wage earners actually take home more or less the same net amount as someone being topped up by or someone living solely off the state. So both are screwed but one is juggling everything thinking they are doing the right thing to better themselves whilst the other is no better off financially but has an easier time of it.

I really don't want to minimise the pain you are feeling but holidays are great and the memories last forever.
We live in shit times (on so many levels) and financially a lot of us are screwed.
To some extent, we have to 'suck it up' and be thankful that we live in a society that at least gives us 'somthing', many countries have no provision for health, nor old age; and those that do have sky high taxes

I totally admire you for working and bringing up your kids alone (I did it with just one child and appreciate how hard it is). You have every right to be proud. I totally get how you feel about the unfairness of it all. Hold your head high

So your in-laws have been committing long-term tax evasion, which is a serious crime.

You could always dob them in if you resent it so much.

It all went to court, big multi party action, we were all guns blazing, both times, but we lost. Pensions weren't protected 25 years ago. When they brought in protection, a lot of employers stopped doing pensions altogether. That was the next 15 years of my working life, plus I had kiddies. I've had ten years of paying into a pension that someone couldn't rob. Much good it's done me.

What about the people caring for profoundly disabled children, saving the state thousands each week by doing so. Who work part time but can’t work more than 12 hours a week or they’re penalised and lose carers allowance but can never quite quite earn enough to pay into the system or save??

this is socialist Mumsnet

🙄

well Surely you paying that in to get a an extra sum to add to state pension when you retire so you won’t be on the bones of your arse in retirement years?

you won’t get pension credit….that’s only for older people who get the old state pension.

Unfortunately, the last government were too incompetent so people voted for change. But at least they rewarded work and saving.

lol, how do the Tories reward work? Have you seen what has happened to wages?