Think you might be getting a UK State Pension ?

[Portree Kid]

For those ( like me ) who thought that they would be getting a State Pension, it is time for a rethink.

I have a long held the belief that the UK State Pension was going to blow up. I think this is the start of the softening up process.

Raising the pension age to 75 would boost the economy by £182 billion, a new report has claimed.

Britain's ageing population and increases in life expectancy have meant taxpayers face escalating cost unless people stay in work for longer, according to a paper by the Centre for Social Justice.

Raising pension age to 75 would create £182bn boost for British economy, report claims

Raising the pension age to 75 would boost the economy by £182 billion, a new report has claimed.

www.telegraph.co.uk

I also believe that the 2nd line of attack on the State Pension will be making it Means Tested ( The same as Australia ) So all those with Occupational Pensions, Forces, Police etc will either not get one, or will receive a miniscule token payment to fight off legal action.

For those that are still young enough, start planning now.

 

[feu_de_joie]

There is also the Workplace Pension scheme. I anticipate that the trigger for means testing of the State Pension will be the achievement of a critical mass of people in the Workplace scheme.

 

[ADBO]

Admittedly this is after rather too much vodka, but surely money paid in equals a pot for those retiring. If there's not enough, them who or whomever took it out should be accountable. Is it overly simplistic (or do I need to go to bed), but if there's not enough to support the retiring populace, then someone's to blame..?

 

[Portree Kid]

but surely money paid in equals a pot for those retiring.

Has never worked that way as far as the State Pension is concerned.

 

[Deleted 164106]

Admittedly this is after rather too much vodka, but surely money paid in equals a pot for those retiring. If there's not enough, them who or whomever took it out should be accountable. Is it overly simplistic (or do I need to go to bed), but if there's not enough to support the retiring populace, then someone's to blame..?

Nope. Any money currently being paid into the pot is used for those currently getting a pension, not for those who will retire in future.

 

[Lardbeast]

For those ( like me ) who thought that they would be getting a State Pension, it is time for a rethink.

I have a long held the belief that the UK State Pension was going to blow up. I think this is the start of the softening up process.

Raising pension age to 75 would create £182bn boost for British economy, report claims

Raising the pension age to 75 would boost the economy by £182 billion, a new report has claimed.

www.telegraph.co.uk

I also believe that the 2nd line of attack on the State Pension will be making it Means Tested ( The same as Australia ) So all those with Occupational Pensions, Forces, Police etc will either not get one, or will receive a miniscule token payment to fight off legal action.

For those that are still young enough, start planning now.

Welcome to my world. The contributors to state coffers here are generally not the ones entitled to a state pension. Those contributors are around 15% of the population who support the other 85%.

Unless you've made your own provision for when you retire, you're pretty much screwed in the People's Socialist Worker's Paradise of Azania.

 

[History_Man]

For those ( like me ) who thought that they would be getting a State Pension, it is time for a rethink.

I have a long held the belief that the UK State Pension was going to blow up. I think this is the start of the softening up process.

Raising pension age to 75 would create £182bn boost for British economy, report claims

Raising the pension age to 75 would boost the economy by £182 billion, a new report has claimed.

www.telegraph.co.uk

I also believe that the 2nd line of attack on the State Pension will be making it Means Tested ( The same as Australia ) So all those with Occupational Pensions, Forces, Police etc will either not get one, or will receive a miniscule token payment to fight off legal action.

For those that are still young enough, start planning now.

Re. your second line of attack, I fully agree and have been saying this for some time. Fortunately, I will not be relying upon my state pension of bugger all...

 

[Richard Headicus]

Admittedly this is after rather too much vodka, but surely money paid in equals a pot for those retiring. If there's not enough, them who or whomever took it out should be accountable. Is it overly simplistic (or do I need to go to bed), but if there's not enough to support the retiring populace, then someone's to blame..?

Luckily for us, who made it to 65 before that age was increased, successive governments. I'll give you what I can remember about the state pension. Some of the facts won't be spot on, but someone will correct/adjust where I've botched up.

The state pension didn't start until 1947/48. Before that, as far as I know, us plebs worked until we were unable to, ie death or illness. The government of the day, '47/48, debated on starting this scheme. They finally came to the conclusion that people should not work until they died. The age of 65 was reached by simple mathematics. They, the government, collected the relevant information from the hatches, matches and despatches offices all over the country. On working out that back then the average for dying was 64, they set 65 as the age a man could retire! Until the last few years 65 has remained the age of retirement, hence us lucky bars tards who made it before it was changed. Tough, but as the saying goes, "That's the way the cookie crumbles."

 

[History_Man]

It was David Lloyd George who introduced old age pensions...

 

[Boumer]

It was David Lloyd George who introduced old age pensions...

And?
Have you woken up with a sore bottom in Cardiff aftr a spanking yesterday?

 

[History_Man]

And?
Have you woken up with a sore bottom in Cardiff aftr a spanking yesterday?

And it was the Labour Government of 1945-51who did it.

No, I spent much of yesterday in work and today is shaping up the same way.

 

[JCC]

That would be a very courageous decision Minister.

 

[exbluejob]

Admittedly this is after rather too much vodka, but surely money paid in equals a pot for those retiring. If there's not enough, them who or whomever took it out should be accountable. Is it overly simplistic (or do I need to go to bed), but if there's not enough to support the retiring populace, then someone's to blame..?

No, it's a Ponzi scheme. There is no 'pot of money', never has been.

 

[exbluejob]

I also believe that the 2nd line of attack on the State Pension will be making it Means Tested ( The same as Australia ) So all those with Occupational Pensions, Forces, Police etc will either not get one, or will receive a miniscule token payment to fight off legal action.

There will be quite a few legal challenges to that. I myself have my MOD pension and another one from a company after I retired from MOD. The second one came into force at age 60 and I had the option to commute (or words to that effect) taking a larger amount each month until state pension age. Then the company pension would reduce and I'd get the same amount of money monthly as the state pension kicked in. Whole can of worms there (still 4 years until I get state pension).

 

[philc]

As has been said its a Ponzi scheme, now less are paying in and more are wanting, cracks appear, think levels of immigration and wives contributing little or nothing, several generations of citizens who have taken and not paid a penny in contributions.

The pension scheme will just be a continuation of state welfare for the non productive, whilst the productive will be expected to make their own provision.

 

[Dafty duck]

Been saying for years that folk my age will never see a state pension. Will we still be expected to pay in? Of course!

 

[Boumer]

And it was the Labour Government of 1945-51who did it.

No, I spent much of yesterday in work and today is shaping up the same way.

My sympathies mate.

 

[Robs dad]

What about those who are paying in AVCs? Is there a chance in future that the Government at the time will say "you do realise the 'V' bit stood for 'voluntary'? ..... That you for your contribution sucker"

I'm a little bit sceptical over how much of my AVC I'll ever see back....

 

[Tartan_Terrier]

They're raising the pension age here in Denmark too. According to the current schedule, I'll be 69 before I can retire.

 

[Mrsheeny]

Raising the retirement age to 75 sounds like something out of a dystopian novel, they may as-well bring in euthanasia. It’s like saying I’ve saved £100 a week from my shopping bills by not eating, I get more free time by not sleeping either, free stuff by taking it peoples houses when they sleep. It’s absolutely bizarre for them to even think about it.