£610 a week pension demand is insane

[Thisismyfinesthour]

Just read that there is an online petition doing the rounds for a £610 a WEEK pension demand to the government.
WTAF? Is the heat melting some peoples brains? It seems over 5000 have signed it.
Where do they think the money is coming from?

I have provided extensive statistics and numbers drawn from statistically validated economic studies by some of the most respected organisations and academics working in this field.

I said that on principle I refuse to spend my time providing links every statistic I’ve quoted - whoch are all available through publicly accessible data - for the benefit of people who allegedly dispute their validity without, of course, specifying which ones they are claiming are inaccurate and despite me also naming some of multiple reputable organisations/ government bodies that have published this data in their economic analyses, as well as the data being in widely reported in credible, published economic academic papers that you could locate yourself using a basic search engine if you made the slightest effort to do so.

Oh, they’re still saddled with debt alright. Who do you think will be paying back the national debt through their ever-rising taxes?

According to the Institute for Fiscal Studies (IFS), the number of pensioners paying income tax has risen sharply in recent years. Around 6.7 million pensioners paid income tax in 2021–22, but this has increased to approximately 8.8 million pensioners by 2025–26.

More pensioners are paying tax because of frozen bands & the triple lock.

Plus there are more of them

No, I didn’t. Try reading it again. I said 50% of total public expenditure is on the over 65 cohort despite them being 15% of the population. I said a “hugely disproportionate share of the NHS budget goven that they are 15% of the is spent on pensioners,” and that “the vast majority of social care spending, obviously” goes on this cohort. Stop inventing things.

@Timeforachange26 Well maybe it all balances out? Like people earning £100,000 and pleading poverty and other people earning £35,000 and being as happy as Larry.

I don't care if people are claiming this, that and the next thing. Doesn't, never has and never will affect me. I'm just happy that I have never had to.

I have had one 'benefit' in my entire life. Family allowance. No free child care etc.

The problem with this thread imo, is that there are too many unhappy people blaming older people, who have been through the same as them when they were young working parents, for the fact that the UK is an economic basketcase.

The tax dodging rich are laughing at you all.

No, she said she would have that when she and husband got state pension ( when added to private pensions)

@NotNowBernardNotEversave your breath, facts & statistics on these types of threads are ignored, it’s always the same.

@Differentforgirls You asked about everanewbie's circumstances I quote ". But going out to work and working hard at my career gave me the choice to buy a nice home and run two cars. " So when she gets to pension age I'm sure she will be one of the better off pensioners still paying tax. Meanwhile she'll quote the myth of pensioners taking loads of holidays while families like hers are actually the ones taking lots of holidays - and just objecting to paying tax. Pensioner poverty is increasing, pensioners are paying more tax, the young now get considerably more in benefits than their parents did at the same age.

I don't blame old people for anything. I am commenting on a thread that raised a petition for the state pension to more than double and I think it is completely unreasonable.

And I don't blame pensioners for acquiring wealth throughout their lifetimes. Its the entitlement and failing to understand economic realities that I push back on.

This

They are 15% of the population.

And yes, some of them are paying some tax (at lower rates than the working age population though, as they’re exempt from NI). So they should, given that they are the wealthiest cohort in society by disposable income or assets and they consume 50% of total public spending and make up over 50% of the welfare bill once you add all of their other welfare to the state pension welfare cost.

The tax free allowance has doubled in real terms over the last couple of decades and is one of the highest in the world.

It’s astonishing what UK pensioners will find to moan about meanwhile complaining about the generation who are paying for the debts which they ran up through a much higher tax burden than they paid during working life, who are dealing with the crumbling infrastructure which they ran into the ground, and having to pay extortionately high living costs because they continually voted for policies that would harm any prospect of future economic growth to enrich themselves

But MNs isn’t the forum to educate them as its user base is older & they don’t want to hear it. 🤷🏻‍♀️

There aren’t any to be ignored.

I don't object to paying tax at all. I object to seeing the personal allowance eroded at £100k. I object to NI. I object to an effective tax rate of 60%. I object to losing childcare help that I contribute towards for everyone else, and now the suggestion those that don't work will get free hours.

I object to my sweat paying for a doubling of the already unaffordable triple locked state pension.

Oh, and holidays? 1 this year, 2 next year. And its funded by our work, earned money. So I deserve it.

Certainly not from you!

@Everanewbie But you know this thread is just rage bait because there is no serious suggestion that state pension would ever double. Any pensioner going on holidays is doing so because they saved into a personal pension - so by your criteria they would seem to deserve it, yet you dont say that. It's one rule for you and another for anyone over pension age. And any wealthy pensioner contributes to childcare that for others that they didnt get, but that also is one rule for you and a different one for anyone over pension age.

That is a big leap. Of course a pensioner who saved into a personal pension or other savings mechanism deserves it. I'm pleased for them, knock yourselves out. You've earned it.

But are you seriously comparing the state pension to free childcare hours to the state pension in terms of economic burden? I don't have any data for you but I'm virtually certain that the effect of having parents able to work and being productive offsets the cost.

Thanks. You’re right. I see one of them is now claiming there weren’t qny facts or statistics! 😆 Having spent hours claiming that these allegedly non-existent facts and statistics are wrong. There are some loons around.

Au contraire. I’ve supplied links to support all my claims. I always do.

Me and my wife are both pensioners and comfortable.
We planned our pension through our contributions into a work pensions, savings, NI contributions that make us eligible for a full state pension and most importantly, re budgeting to live on less than our employment incomes.
We are not rich, just sensible with the way we manage our finances.
It was stated in an earlier post that over a quarter of pensioners 65+ have assets of £1m. Conversely, nearly three quarters of pensioners 65+, if the stats are correct, do not have those assets. that tells me that the majority of pensioners are not super wealthy.

Anyone who took that ludicrous petition seriously is a bit dim. I haven't seen one poster on here saying it's a good idea. Maybe you have?

Cost of funded childcare hours per year: £8.7bn

Cost of state pension per year: £143bn

And, as you say, the economic benefit of the childcare enabling more people to work/ work more hours actually pays for itself several times over in lower welfare expenses, higher tax revenues, etc.

@NotNowBernardNotEver Pensioners now make up 22% of taxpayers - and according to your figure 15% of the population.

There is a considerable difference between being wealthy in terms of assets and wealthy in terms of income - but you know that and put them together to conceal the truth rather than reveal it. Yes pensioners often have houses - although not in a great condition and they dont have the money to fix or heat them. Yes they have assets included in that "wealth" of the pension pots that they rely on to keep them off benefits.

Funnily enough all the whining I hear is from people like you.

😆😆😆😆😆