More retired boomer's pay income tax than generation z according to official data.

[caringcarer]

The article is in the tax year 22-23 5.45 million boomers paid income tax whilst only 5.32 million under 30's did so according to data from HMRC. There are almost a million 16-24 year old NEETs. It was a real eye opener for me. Article behind pay wall so can't link.

The State Pension is just below the Income Tax threshold, so many pensioners will be paying tax if they have any company or private pension.

Good.

I know pensioners who get more than the threshold in the state pension alone.

A pensioner who rents will get a little housing benefit but it may not cover the rent. They will have to pay council tax, gas, electricity, water rates, TV licence, insurance, food, phone etc. why do you think they don't have to pay bills?

And the point is pensioners on a state pension won't get PC because they are something like £12 a year over the limit so those on PC become better off as no Council tax, and get WFA.

Do you honestly believe ALL pensioners own their own home?

Pension credit means more housing benefit is paid, often a large reduction in council tax if not it all paid for, and then winter fuel allowance, free prescriptions, free travel etc.

Significantly less costs than a comparable single person working full time earning minimum wage.

If a pensioner gets full pension of £11,502.40 they don't qualify for PC. They will have to pay council tax, electric, gas, water rates, insurance, mobile, clothes, shoes, food and any gifts they want to buy for their family, if they own their house all repair and maintenance and if they rent they'll not get all rent paid they will get some towards it. Could you live off that amount each year? Less than £1k per month. I know I couldn't.

A single person earning NMW would get £23,795.20. That is over double, so how do you get the pensioner is better off financially that a single person on NMW?

Yet I’m expected to live off £1,390 a month. Average rent in the UK is now £1,330. In a working person. The generation you’re talking about how incredibly generous pensions, they benefitted from the cheap housing boom.

So you get £15,960. So are you agreeing you couldn't live off £11,500 then? Because that's what a lot of pensioners live off. You seem to believe every single pensioner has a big fat pension and bought their own home. That's just not true for a lot of pensioners. Yes, some will get a lot more, own their own home and will be paying income tax but many just don't get more. I don't know why you refuse to believe it. 🤷

And if they don’t, they have plenty of aid available to them.

I have nothing. If I leave my parent’s home, I’m classed as voluntarily homeless. If my parents kick me out, the council will essentially force us to go through reunification therapy.

But you have no sympathy for me, I presume?

Why should a pensioner on minimum state pension, meaning they haven’t saved any of their own money for retirement, be better off than someone working full time??
State pension is a state benefits. Why on earth should it pay more than work?

I'm not saying they should. However PP insisted every pensioner is better off than a person on NMW which is not true. They believe every pensioner has their own home. Baffling.

You live at home have 16k a year net I presume. Why can't you save?

Honestly, yes I think I could. Not if I had to pay rent out of it or a mortgage, and it would be tight. I couldn't run a car.

But my bills are £300 per month excluding my car. Food, I live comfortably on £200 a month and that includes some groceries for my parents.

That would leave £450 for everything else, which would be tight and would either mean I had to live very frugally or that I would need some money saved up for house repairs, or that my house would deteriorate over my old age.

I'm not saying that it's a great situation but I think without rent or a mortgage it's manageable.

I'm also not sure really what the expectation should be of the state pension - do we expect it to be enough to just about manage if you haven't saved for a private pension, as I suggest above, or as a society is our expectation that a state pension alone should offer a comfortable retirement?

I am saving.

But seeing as house prices have risen so much, due to the “boomers” hoarding wealth, I have no chance of buying.

I can’t see a single person saying pensioners own their own home, it’s certainly a huge percentage though and much larger than the younger generation you insist on comparing them to.

Trying reading! SOME was the word I.used.

It's wild anyone including op would see these stats and not think it just shows the huge issues have with generational inequality.

You seem very bitter towards the elderly, almost as if you blame them for your situation 🤔. Are you able to get a better job/work more hours? Surely that's below minimum wage.

Good.

The vast majority of pensioners won't be paying anywhere near enough tax to cover their own costs to the state, let alone enough to contribute to younger people. The state is paying their state pensions, higher NHS costs than younger people due to older people generally having health conditions, free bus passes, etc. Only the very richest of pensioners will be paying enough tax to cover their own costs to the state AND contributing towards benefits for younger people.

The money won't be buried with them you know. It will be handed down to younger generations who will spend it, stimulating the economy more, or use it for training to help them advance in their careers. Boomers are also currently claiming state pensions, and then paying tax on those and their private pensions, so they are still net takers from the economy. And the NHS.

Not bitter, I’m very happy with my life.

I just find it insane that the wealth is so skewed in this country but young people are still blamed for it.

We went through a stage pre kids where I had two jobs. Council 9-5. Pub 7- close four nights a week. DH left home at 7am in the summer he'd not be home till 10pm. He luckily had a works vehicle. I had the bus , in good weather cycling. We didn't winge. We were able to save because of the extra work. I suppose I could have cried when mortgage rates reached 16%. But we were all paying that.

Read today that one in four young people were considering going on benefits for mental health reasons. Something is terribly awry if our young feel like this.