Who is going to pay for your state pension/ care in old age?

[itsadlibitum]

Apparently birth rates are falling, and this is putting future pensions (and I would imagine general tax income) in jeopardy as the population will proportionally age.

What's the solution? Should we just write off our paid for "right" to a state pension and state support for care in older age?

Does this change your view on public investment in supporting people to have children if you otherwise thought this was a personal choice and you should support/ pay for your own children?

AIBU to think that NI contributions for "pension" is essentially government mandated mis-selling and state pension will go out the window in the next few decades?

Crikey, I hope that isn't the answer.

I do support assisted dying, but an incentive to shorten your own life in return for some sort of benefit package for your offspring? 😱

That said, there's a few right wing politicians I would be willing to nominate as test cases.......... 🤔😂

I'm a Waspie and feel like I've been robbed.
Where l worked we didn't get to add to a private pension.. nor told anything.
( No husband.. no nothing) it's theft.

With my combined small private and state pension I am paying approx £2500 income tax and have enough disposable income to help support the economy by being a self funding consumer. I have enough savings and equity in my home to fund approx 10 years worth of care should I need it. I’m just an average person whose salary never went above £50k a year.

I don't think anyone would rely entirely on state pension, but £12k a year isn't to be scoffed at to bulk up a private pension. I assume you took yours into account?

Will we need more children in the workforce once AI takes over the world and we're all plugged into the Matrix??? 🤔

At least, you'll have a state pension. At this rate, my generation and below will probably have none.

Actually, on this, i am pretty sure life expectancy increases are slowing/ stalling so even not taking into account healthy life expectancy, I don't think we can rely on future generations always outliving those before them.

@Jane143 healthy life expectancy is different to life expectancy

That’s likely true

My mum didn’t work when I was a kid; she doesn’t have a state pension. My dad retired at 50 on a decent final salary pension.

im 54, quite enjoy working, might try and retire in ten years or so if I can.

having more kids to pay for the older generations is stupid; that’s just a pyramid scheme.

I agree with this. And it's actually my biggest gripe with the whole thing, I think it's disingenuous.

They still collect their UK pension and spend it in their home country.

It definitely is.

Maybe some of them (which they should be entitled to if they've paid enough NI to qualify for it, contributing to the UK economy instead of their own and therefore not getting a pension at home), it's still cheaper than looking after them here.

I'm not expecting a state pension. I am paying additional contributions on my workplace pension so I can retire 2 years early. The way things are going, I will still be too old to enjoy much of a retirement.

It gets my goat when wealthier people moan about how hard done by they are that they have to sell their house to pay for their care and whine about inheritance.^^

My area of work is with elder adults, and by the time I get to retire, the retirement age will be so high that I'll basically finish my last shift and then check myself in as a client 🫠 just living the dream

Why shouldn’t they get a UK pension if they have paid in? plus it’s cheaper then funding their old age if they move home.

According to Google it’s 83

You need to read my post properly. That is precisely the opposite of what I said.

HEALTHY life expectancy. It's how long you can expect to be living a healthy life, vs one where you are not healthy.

@Tutorpuzzle we moved on from that pages ago! 😆

Although I don’t believe the majority of those parents did work full time from that age. Many men will have though.

🤣

Well, I’ve just had to go out and queue for petrol!
(Perhaps Ms Reeves can put some of the extra VAT we’re paying towards pensions?)

I remember thinking when I started work in 92 that the state pension would probably be gone when I retired. But now I’m nearly 60 and it’s still there. Yes I need to wait a bit longer for it. But I don’t really expect the state to fund me 30 years of inactivity. Which is how long I plan to live give or take.

Right from the mid 80s you could have made payments into your own personal pension plan, you could have contracted out of SERPS. You didn't need to have been in employer pension scheme, plenty of options to make your own arrangements outside your employer. It was a big thing in the 80s.