At last, the baby boomers will share the pain

PaulF81

Not if they cut the basic pension to a level where all that is affordable is a one way plane ticket to switzerland.

RUN_RABBIT_RUN

http://en.wikipedia.org/wiki/Communism

ruggedtoast

Regardless of the 1970's, which were a tough time,.it's noteworthy that some of the older people here criticise younger people for expecting an ever rising standard of living, when they've made sure that retirement is the cherry on the cake of theirs.

Thrugelmir

StevieJ wrote: »

I can't believe you are quoting an article with sob stories about £2 million+ house brigade

The property market is a pyramid. No single level functions without the other. There's correlation. So there's going to be a ripple through effect. Which may come as a shock to some people.

Sapphire

ruggedtoast wrote: »

Regardless of the 1970's, which were a tough time,.it's noteworthy that some of the older people here criticise younger people for expecting an ever rising standard of living, when they've made sure that retirement is the cherry on the cake of theirs.

Rubbish. Many older people are living on a pittance. Yes, there are people who have very high pensions – and anyone who receives a pension of more than £24,000 should be means tested. However, don't lump all pensioners in the same bracket.

Pensioners include many people who worked hard for 50 years or more (without the entitlements that younger people expect and receive courtesy of the taxpayer), but who were always on relatively low wages and therefore could not afford to save hundreds of thousands of pounds to provide them with a decent pension.

wotsthat

CLAPTON wrote: »

baby boomers are generally considered to be people born between 1945 and 1965

so the oldest baby boomers are 67 and the youngest 47

I believe many of these people aren't pensioners

S**t! I've been wishing my parents dead because I thought they were greedy, scumbag, honey dipping boomers. Turns out they are pre-boomers (1944) - must be why they've only got a small house, no final salary pensions and 15 year old Vauxhall Corsa.

I still hate them. If they'd been born a year later they'd have a mansion, a Bentley and a massive pension income that I'd be able to get my hands on when they snuffed it.

A._Badger

PaulF81 wrote: »

Not if they cut the basic pension to a level where all that is affordable is a one way plane ticket to switzerland.

And that's what forty years of 'child-centred education' gets you.

StevieJ

A._Badger wrote: »

And that's what forty years of 'child-centred education' gets you.

That must be Biggles nicer brother

ruggedtoast

Sapphire wrote: »

Rubbish. Many older people are living on a pittance. Yes, there are people who have very high pensions – and anyone who receives a pension of more than £24,000 should be means tested. However, don't lump all pensioners in the same bracket.

Pensioners include many people who worked hard for 50 years or more (without the entitlements that younger people expect and receive courtesy of the taxpayer), but who were always on relatively low wages and therefore could not afford to save hundreds of thousands of pounds to provide them with a decent pension.

Other than pointing out that not everyone is rich I'm not sure what your point is.

People retiring now will get a better state funded retirement than those who are currently mid way through their working lives and having to pay for the former's benefits.

There are retirees now who through extraordinary bad luck or incredible ineptitude, are facing an assetless retirement on a state pension.

Anyone else who got round to buying any sort of property or signing on for a council house or their work's final salary pension scheme in the 60's, 70's, 80's, 90's, or up to 2005 in the 00s, is quids in.

Sorry if a 45 year window wasn't long enough for you to get your act together, but there is nothing like that around now, nor is there likely to be again.

StevieJ

Thrugelmir wrote: »

The property market is a pyramid. No single level functions without the other. There's correlation. So there's going to be a ripple through effect. Which may come as a shock to some people.

I suggest that the pinprick at the top will have slightly less influence than the base