To think we shouldn’t have to contribute to soch if we don’t intend to use it?

[slozenger]

For example, I don’t want a state pension - so I should surely be able to opt out of soch based contributions percentage. And just pay a lesser amount to cover anything I do take advantage of.

We just call it tax where I live - much simpler, and everyone knows what we mean.

You think “most people” earn over £75k per year? Every year, across their whole lifetimes? Not most households, most individuals?

Probably if they’ve been working 40+ years yes. Promotions etc

You didn’t read that properly.
Not EARN 17k but pay 17k in tax.

Why are you paying your taxes defiantly? Who are you defying? Sounds like you’re complying tbh.

Also you aren’t a contribution but a contributor. Sounds like some of everyone’s taxes should be spent on sending you back to school for a few years.

Hence the apostrophe to soften the 'c' & demonstrate it is an abbreviation & not an anacronym.

Nope, not heard of those either.

Newcastle? Ringtons, obviously. Much better than Yorkshire Tea.

Right what do you call the chizzer then?

Yes you're right, most people get 75k on average per year for their whole working life. Because... promotions.

OP where are you working that you get paid 75k+ and don't have to understand numbers, words or the economy? Are there any jobs going?

The op's a witty leg puller.

This I highly doubt.

I do understand it. Obviously……. I just don’t always agree with some aspects of it

Don’t make me pull out my payslip.!

She works in the chizzer. Cash in hand. Don't tell the Soch.

Funny 😂 even in london median wages are way lower than this

China? India?

My mind is blown by people who think they are oh so superior for using a term which apparently hasn't been in use for decades and isn't used now. Wow, I'm in awe of you (NOT). At least I know that 'at least' is two words, not one.

OP where are you working that you get paid 75k+ and don't have to understand numbers, words or the economy? Are there any jobs going?

Reform party HQ?

You don't agree with "some aspects" of calculating averages?

Do you find them...mean?

Great idea. I don't want to go to prison so I don't want to pay for them either. Down with Soch!!!!

I’m not sure what SOCH stands for, I’ve googled and it doesn’t come up with anything so I’m guessing it’s an outdated term no longer used. But no @slozenger , just typing SOCH is not self explanatory

Median actually.

Ah, that'll be why she's so evangelical about 2002 Hindi language crime thriller mystery film 'Soch'

It’s actually a form of racism to assume in order to judge someone’s political views.

Yes this. Moreover there is a difference between someone who is a net contributor within a particular year (I am) and someone who is a net contributor across their whole lifespan (I doubt I am yet and possibly may not ever be - haven't done the maths).

Then the very good point several posters have made that today's contributors are paying for today's pensioners. You don't object to paying for children but they'll be adults and then eventually pensioners, and today's pensioners were once children so what's the difference really?

Further, it would be impossible and too expensive to administer. Imagine verifying and record keeping all the opt-out and ensuring any state pension claims would be barred. And what if you had to change your mind? That your private pension crashes, you lose your assets, you need a state pension to feed yourself. Does the state just let you starve and kick your non-contributing body into the gutter when you croak?