Concerned that Labour govt might fleece me in upcoming budget?

[RightOh9oo]

Aibu to be concerned that Labour government might fleece myself/family in the next budget?

If they remove the right to UK pension for all, by making it means tested....I think I'll stop working this year. I'm early 50s, does anyone else feel like this?

I'm going without so much to save in my private pension, so no holidays to speak of.

Does anyone know what is in store in the upcoming budget?

More fucking bollocks speculation to create fear and division.

It's beyond pathetic now.

@ThreeFeetTall

yeah, hid forbid should I be able to eat when I retire after paying into it for 50 years.

If they remove the right to UK pension for all

Clearly OP is a shill for the government, trying to cover up the real bombshell, which is that Labour are going to announce compulsory euthanasia for the over-70s. 🙄

People’s stupidity is frightening.

Not the OP though unless they were 3 when they got their first job 😂

There is no credible source saying the government are even considering this.

It would be incredibly incredibly unpopular.

This, and surprise surprise the 'OP' is a brand new poster who'll we'll never see again.

But that won't stop certain people on here believing it.

Oh someone might take that seriously. Just wait for "I'm 71. AIBU to worry that Labour will euthanase me in the forthcoming budget"?

I do think I am likely to pay more tax but don't see it as being fleeced

"Well I wouldn't put it beyond them, that's all I'm saying. Where's Boris when you need him ?"

You don't pay into a state pension. You pay into a private pension.

It's means tested, though. Like the OP fears might happen here.

Bring on the Australian system.

Why miss out on holidays etc now if you’re earning ok and are presumably in good health?

It's means tested.

An average household over their lifetime has paid 140,745 in national insurance contributions (in real terms).

Life expectancy at 65 is around 20 years for men and 22 for women. So let’s say 19 and 21 from retirement age. A couple gets 23,004 a year, times 20 years that is around £460k. Significantly more than what the average household has paid in to the system.

The “paid in all my life” argument doesn’t make sense at all when you are asking younger people with higher planned retirement ages and a higher tax burden than you had to pay more tax in order for you to get more pension.

Our pension system only works when the generation underneath is significantly larger than the one above and as fertility has declined this is no longer the case. When the retirement age was introduced it was 65, the life expectancy at the time was also 65! This isn’t a sustainable system unless we significantly increase fertility, reduce the generosity of the pension or increase the age of retirement.

Op is right I see that article it was on www.Imtalkingoutmyassbecausepeopleonmumsnetbelieveanything. Org.co.uk

I’ve heard they are going stop pensioners eating cheese.

And the maximum is 2.5 times the amount of a UK pension.

Giving up work this year sound fabulous OP.
You are lucky Labour is providing you with this opportunity.

I heard this but their still discussing dairylea

I assume those processed slice things will still be allowed as they bear no resemblance to actual cheese?

That's what starmer is saying at this point