To think when the state pension is removed, the social contract is broken?

[JulyJulyNovember]

https://www.bbc.co.uk/news/articles/c8e2yp1gg37o

It seems likely that in due course, the universal state pension will be withdrawn. At this point, I don’t see how there will be any incentive for young people to build wealth here.

I don’t think poor pensioners should be homeless, but I don’t think they should be provided for in large, unsuitable council houses or in nursing homes where places cost thousands a week. We are moving to a more individualistic world.

Why are you so nasty? Is it jealousy that young professionals in the public sector earn more than you?

Literally no political party is proposing this.

There is a debate to be had as to how annual increases in the state pension should be calculated.

This is not the same thing as abolishing it or means testing it.

Exactly, I’m not sure what the point was of this thread as no one proposing is that.

They won’t either, ever.

Seems pointless starting a thread about a topic that will never happen 🤣.

It’s been good for a laugh as certain posters arguing with everyone.

It's not tenable any time soon to scrap the state pension. No one can afford to save so how would that work. Unless the plan is to allow people to commit suicide when they retire, which everyone will if they don't have money. Is that the plan? Stop working and kill yourself? Ridiculous. Thank god we all stopped procreating so this can all be over soon.

Huge numbers of people are already saving for their own retirement via workplace pension schemes, private pensions, stakeholder pensions, etc. There's already the "safety net of pension credits for those with low incomes in retirement, equivalent to state pension.

The social contract has been progressively dismantled since around 1978 under the ostensibly "socialist" government of the Labour PM James CallaghanThe benefits and health systems of the Welfare state that the war generation built to ensure that the poverty, poor housing and ill health of the 1920's and 30's would be permanently removed have been very deliberately destroyed along with the more egalitarian education system and nationalised industries.
The Conservative government of Margaret Thatcher in company of the right wing press lied through their teeth saying that "the country couldn't afford the welfare state" then cut taxes, cut benefits and gradually defunded the NHS by increasing funding below the inflation rate. During the same period councils were prevented from building social housing to replace what they were forced to sell under right to buy.
Lo and behold child poverty increased and homeless beggars returned to the streets, and the distance between rich and poor widened as it contines to do today To explain this away the government blamed immigrants, the EU, Trades Unions and drug users. Nothing changed under the Blair government in fact thanks to Yvette Cooper disabled people began to have more and more obstacles placed in their way to prevent them claiming benefits.
Collectively these policies were the pay off for being prepared to accept government action, die for the country, be obedient workers, obey the law, trust politicians and police etc. which is what we as subjects of the crown give as our part of the "Social Contract", which we also fund.
If you wanted a coat and went into a shop you would have to pay for it and if you were not willing to pay you would not be given the coat. With the removal of the payments given by the state, that we also fund, together with the repeated "revelations" that the Politicians, Police and courts are dishonest and corrupt the payment of the cost of the social contract has ceased- The rich have got richer and the cost of the crumbs that leak past them to the rest of us increase as our incomes remain the same. Why then should we deliver our end of the "Social Contract" as the country is progressively returned to the 1930's, even the change won by Feminism and anti racist campaigners are under threat including womens right to vote from Christian evangelists like the Heritage Foundation through Project 2025. - Time for a General strike

Yeah huge numbers of people rich enough to do so. And the rest of us?

None of us should be encouraged to think we will have state pension.

Everyone should be encouraged to save into private pension.

Universal credits will actually deduct any money you pay into private pension from your income. To encourage pension saving. (Its a pain in the butt to sort it with them but def worth it)

You don't need to be "rich" to make your own pension arrangements. Small amounts regularly saved for 30/40 years turn into relatively decent worthwhile pension pots. 82% of current workers are paying into workplace pension schemes, with their employers paying in more than the worker does, so at least doubling up.

We should all have a state pension. Plus should all save more if possible.

The state pension is a core part of the contract between individual and state.

Agree totally, I've never earned much above minimum wage but I started paying into a private pension in 2001 (when I was 23) and my pot is now pretty good. Having moved it a bit, and increased risk as I understood it more, my pot combined with my (assumed) state pension would give me the same monthly income I have now if I didn't add any more. And I plan to work for at least another 20 years, so it'll keep going.

How many children do you have? Are you single or with a partner? Are you paying a mortgage?

Two kids, partner earns exactly the same as me, mortgage was fully paid off 3 years ago. I've always paid around £60-£80 per month into my pension

My colleague retired on his 60th birthday so wasn’t getting his state pension for 7 years. We went into lockdown a month later. He got a year in lockdown and then died.

Many people never get their state pension due to the age increase.

You should all be thoroughly ashamed of yourselves for envying older people who have paid tax and NI which paid for your education, healthcare etc.

Envy is a sin.

I was the same but started at 18. Many people aren’t as lucky.

Maybe I was just paranoid, but I assumed there wouldn't be a state pension when I retired, so I started to plan for myself

I assumed I’d get mine at 60!

Everyone on mumsnet only seems to know fit and healthy 95 year olds who have never worked yet are multi millionaires still claiming state pensions.
In my family I have had many relatives who died either before reaching state pension age or died very shortly after. In fact the majority of my family (so parents, grandparents, aunts and uncles) all died before 70. I have one uncle who is still alive aged 79 and he is very poor health. My father died at 64 so never claimed any state pension. My mum died at 69 but had claimed it since 60 (although she didn’t actually fully retire until 65).

My family are much like yours. ❤

No. My mum was 89 and in good health. And she went off to sleep and did not wake. I see that as a brilliant exit.

What you’d call a ‘good death’, and what we’d all like in reality.

My dad was 59, lived through two wars, served all through the second,and worked all his life. Not one day of retirement. Mum was mid eighties, with dementia.

I feel lucky to be eighty and in reasonably good health. DH is the same age, he’s had some health issues for years, but he just takes each day at a time. His parents didn’t make it past 70. Sadly we’re not millionaires, our ‘estate’ won’t be nearly enough to attract inheritance tax, and whilst I’m grateful for my state pittance, just over £100 week doesn’t buy much these days!

What is decent now though? My dad saved for 40 years into a private work place pension as a high tax earner. He paid the upper tax level from our return in 1986 till he retired in 2016. He had about 140k in there when he retired. He did about 2 years after though - and only claimed 1 yr of his state pension, which his estate was told it was NOT eligible to collect - so he never got back his contributions to the system.

My eldest is 17 and has been told that based on historic inflation her generation will need 3 million to be able to retire and not struggle.

I will not be retiring as my mum did at 66, and my dad at 69, so the odds aren't good for me.