Labour Pension Plans

Discussion in 'Current Affairs, News and Analysis' started by jonwilly, May 23, 2005.

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  1. From Sunday Telegraph

    Pension plan in disarray
    Labour's search for consensus on the pensions crisis was plunged into disarray after it had to disown the idea of a two-tier retirement age.

    Basically Labour suggseted that 'Graduates' should not retire untill 70 while us thickys who started paying into the system at 16 receive our pension at 65.
    PS Now if this had been a Tory idea under a Tory government then Rent a Mob would be marching.
  2. I reckon state pension plans'll be screwed whichever government is in....people are just living too long in this day and age of improving medical care etc and it'll only continue to get worse. You'll be working till you drop in 30 years time or so....unless you've made some pretty good investments of your own along the way.
  3. How much does a pensioner receive ?
  4. I understand that if fully paid up £82 a week.
  5. Yet again another labour plan which provides a disincentive to work hard all your days. Instead just lie back, think of england and wait for the cash to roll in 5yrs before your hard working neighbour.

    Only labour :roll:
  6. Is it wirht having a private pension though ?

    My stepdad paid into one all his life and now loses more in tax than the premiums were

    Should i just pay into a hi interest savings account ?
  7. I would suggest you buy mutual funds rather than high interest notes. Right now in the US a top rate is only around 4% for CD's. The money gurus recomend buying stocks that also pay a dividend.
  8. Again I'm forced to wonder why they don't take the obvious option. Granted this would only fix pensions from 60 year hence, but the govenemnt needs to be thinking in the long term.

    When a child is born, the Govenment then fork out a lump sum to a pension scheme, like the ones currently run by the private companies. child. Say those £250 Child vouchers.

    Then maybe top that up for a year during their next 10-16 years. Then once they reach 16 they can look after it of their own backs. Any money from unclaimed pensions (Say if the person dies before their pension age) gets thrown back into the system.

    Ok so what small point did I miss?
  9. The fluidity of the market for a start, if a child born this year lost all of his invested pension funds in a crash next year, he'd effectively be pensionless from age two and through no "fault" of their own.

    There's also the issue (which will apply to the "Baby Bonds" also) that if you have a situation in which everyone has the same benefit (for want of a better word) it becomes essentially valueless.

    I forsee a situation for instance, about 18 years from now, when a downpayment on a car will be "Basic Baby Bond + 10%" or a deposit on rented accom. will be "Basic Baby Bond + 1 months rent in advance". So those with only the basic bond plus interest will still be at square one and those whose parents were able to "top up" for them will still have an advantage.