Saving Gateway, 50p for every pund saved

mrsyardbroom

Isn't there a limit as to how much you can invest in a pension plan?

ahai1

It says you can save from as little as £1 a month. People will be getting information in 2010.

It does not say who the providers are. I persume that some have signed on board?

Cook_County

mrsyardbroom wrote: »

Isn't there a limit as to how much you can invest in a pension plan?

Yup - £235,000 this tax year, £240,000 next tax year and £255,000 the year after. It is standard planning to maximise these to increase tax credits and the savings gateway will add a little more government money to the pot...

lynzpower

This country is going bloody mental I swear to god.

I take it those who cannot benefit from this bonus gets to pay for it out of thier taxes.

Milarky

lynzpower wrote: »

I take it those who cannot benefit from this bonus gets to pay for it out of thier taxes.

That would be about right, yes. Just wait for the budget in, April, when the 'help for hard pressed savers' trailed by Mr Darling transubstantiates into 'help for certain hard pressed savers'

lynzpower

Milarky wrote: »

That would be about right, yes. Just wait for the budget in, April, when the 'help for hard pressed savers' trailed by Mr Darling transubstantiates into 'help for certain hard pressed savers'

Gordon seems to be having this idea he is some sort of Robin hood, robbing from the erm hard pressed earners to give to er hard pressed non-earners

:wall:

metrobus

I also took part in one of the pilots although in that one they matched my
savings pound for pound,over a 12 month period,maximum £50 per month.

The bonus £600 paid for a nice weekend in New York with the girlfriend.

I hope they do it again.

baby_boomer

It's typical of this government that they think they can help people to save.

Cue more wasteful bureaucracy, people spending productive time working out how to swindle the taxpayer, costly mistakes etc.

And for what? Once people have got their money they'll spend it and still need state help!

I'm afraid, Gordon, saving is something people do themselves. Didn't your father teach you anything?

ray123

Throwing more money down the drain... Admin expenses, etc.
Why not just increase the level of benefits, tax credits by that amount.
There might be a lot more takers than expected if unemployment continues to rise.

Will there not be a point where it will be economically benefical to stop working and start claiming, especially when NI and other taxes are increased to subsidise those defaulting on debt (for example, the banks lol) and those sponging off the state?

lynzpower

Will there not be a point where it will be economically benefical to stop working and start claiming, especially when NI and other taxes are increased to subsidise those defaulting on debt (for example, the banks lol) and those sponging off the state?

that seems to be where me & OH are at, Combined income 35k, about to rthink about starting a family.

Not worth one of us working. THAT SIMPLE.