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New flat rate pension
Comments
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Excuse me, I will be paying tax, just not at the userous rates required to support boomer pensions.
Thought UAE was tax free?
You may pay a small proportion of tax , otherwise known as NI, to maintain your life belt.
Should you decide to come back for your healthcare and to collect your pensions that you won't have contributed, proportionally as much as many of the boomers you deride, to don't feel in the slightest bit bad about it."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Thought UAE was tax free?
You may pay a small proportion of tax , otherwise known as NI, to maintain your life belt.
Should you decide to come back for your healthcare and to collect your pensions that you won't have contributed, proportionally as much as many of the boomers you deride, to don't feel in the slightest bit bad about it.
NI is tax!
I bet as a total sum, bearing in mind I can expect a 120k+ salary after 5years, I will pay more in NI than most boomers paid in income tax and ni put together.
As I said, can't beat em, join em. It's not about me anyway, it's to ensure the little uns have something left after this socialist mess of a country completely destroys any remaining work ethic. I don't mind working hard, I don't intend to get robbed for the privelege.0 -
NI is tax!
I bet as a total sum, bearing in mind I can expect a 120k+ salary after 5years, I will pay more in NI than most boomers paid in income tax and ni put together.
As I said, can't beat em, join em. It's not about me anyway, it's to ensure the little uns have something left after this socialist mess of a country completely destroys any remaining work ethic. I don't mind working hard, I don't intend to get robbed for the privelege.
If NI wasn't a tax that allowed you to qualify for benefits would you pay it voluntarily?
The fact that you will earn a high salary is pretty irrelevant as you will only pay the given proportion as deemed necessary by the government at a point in time. This is no different to any other punter in the UK who pays their due taxes.
Anyone earning £25000 + (subject to PAYE)will be paying just as much in "tax" as you. Many significantly more.
By all means enjoy the fruits of your labours but don't castigate others who have paid their taxes as required by the government of the day."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
They didn't pay enough.grizzly1911 wrote: »If NI wasn't a tax that allowed you to qualify for benefits would you pay it voluntarily?
The fact that you will earn a high salary is pretty irrelevant as you will only pay the given proportion as deemed necessary by the government at a point in time. This is no different to any other punter in the UK who pays their due taxes.
Anyone earning £25000 + (subject to PAYE)will be paying just as much in "tax" as you. Many significantly more.
By all means enjoy the fruits of your labours but don't castigate others who have paid their taxes as required by the government of the day.
I won't get a state pension by the time they means test it, so why should I pay when I won't get anything back?0 -
They didn't pay enough.
I won't get a state pension by the time they means test it, so why should I pay when I won't get anything back?
They didn't do it deliberately and no one told them.. It wasn't there fault. They didn't invent inflation.
I probably paid/ am paying towards your grandads but don't worry about it.
Too many people, not enough jobs, economically inactive numbers growing, tax volumes dropping, aggressive tax avoidance by individuals/corporates and the strategy of global corporations are “killing” the country. That and self interest.."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Flat rate for all regardless of whether you have worked all your life or sat around doing nothing (and I don't mean stay at home mums) :think:
The young will be lucky to see a pension!
At the moment you can work all your life and get about £100 whilst the person who didn't lift a finger and lived off benefits could get £145 with pension credit - so it's a step in the right direction.0 -
NI is tax!
I bet as a total sum, bearing in mind I can expect a 120k+ salary after 5years, I will pay more in NI than most boomers paid in income tax and ni put together.
As I said, can't beat em, join em. It's not about me anyway, it's to ensure the little uns have something left after this socialist mess of a country completely destroys any remaining work ethic. I don't mind working hard, I don't intend to get robbed for the privelege.
Although OH hasn't earned as much as you project you will earn after 5 years he did earn a very decent salary of over £80k and quite a few years ago I used to joke that he paid more in income tax (without NI) than I earned and I worked full time in a reasonably well paid job.
That didn't last as I did manage to climb the greasy pole (after the children were at school) and ended up earning about half of his income before we took early retirement.
In his last year of work OH paid over £27k in tax and NI - more than a lot of people earn - is that their fault? Hardly.
Not eveyone has the intellect or drive to succeed in the same way - and it's just as well or how else would our country operate. Someone has to do the less skilled work.
And I think fairly high unemployment levels are what government and industry want - it means there is always a large pool of labour who are prepared to work for low wages...if we had full employment there would be a small pool of labour not prepared to work for low wages.
For all the protestations to the contrary I don't think government really want everyone to be in work.0 -
They didn't pay enough.
I won't get a state pension by the time they means test it, so why should I pay when I won't get anything back?
They paid what the government of the day decreed they should pay...just as you are....
I've been expecting a means tested state pension for years, that's the reason it didn't figure in our retirement plans. If I receive it in full in 2021 I will consider my self lucky.0 -
They paid what the government of the day decreed they should pay...just as you are....
I've been expecting a means tested state pension for years, that's the reason it didn't figure in our retirement plans. If I receive it in full in 2021 I will consider my self lucky.
Same here.
All I know is that we are making what plans we can, on more than one front, with a share of our income.
We have longer to go than you and plenty of life to live before it becomes reality. I also know a number that haven't and won't make it.
Why worry and agonise over something we have little control over?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Not eveyone has the intellect or drive to succeed in the same way - and it's just as well or how else would our country operate. Someone has to do the less skilled work.
For all the protestations to the contrary I don't think government really want everyone to be in work.
Those that do undertake lower skilled work will be working just as hard, if not harder, in and with pretty poor conditions. If they earn enough they w ill pay their fair share of taxation under PAYE.
I understand that unemployment, whilst unwelcome, is a lever against inflation, fuller employment fueling it."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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