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New flat rate pension
Comments
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So you intend to put the minimum in to get maximum returns? You are no better than the people you are castigating imo.
Its not the boomers that are the problem it is people like YOU!
Hey, if you can't beat em, join the b@ggers. Don't blame me. It's the system that's fekked. I'm not planning to bend over and take it over the barrel own behalf of the boomers thanks, and neither does it seem thousands of other higher and top rate tax payers in the uk who are leaving the uk in droves.
Lets see How long socialism in the uk will last shall we?0 -
Hey, if you can't beat em, join the b@ggers. Don't blame me. It's the system that's fekked. I'm not planning to bend over and take it over the barrel own behalf of the boomers thanks, and neither does it seem thousands of other higher and top rate tax payers in the uk who are leaving the uk in droves.
Lets see How long socialism in the uk will last shall we?
Interesting you don't want to cut the apron strings, NI for the welfare/pension and the Cotswold plot. Will it be full wack Ni or the bare minimum you can pay?"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 -
I agree life isn't fair all of the time for all of the people.
I'm not able to retire at 60, though I thought I would be able to until the mid 1990s, then I thought I would be able to retire at 65, but now I'm not able to - it's now 66.
I will reach state pension age at the end of 2021, I paid SERPS/SP2 for quite a lot of my working life and the last pension projection I had indicated that I would be getting more than the new flat rate pension - I don't know what will happen to that - if it will just be lost or if it will be paid on top of the flat rate pension.....my feeling is that it will be lost.
OH was contracted out all of his working life (we reach state retirement age in the same year) and he will get more under the new system than he would have under the old.
C'est la vie.
Yes, exactly. Thrugelmir is completely right with the comment that as soon as anything new is announced, there is a frenzy of "You can't do that" etc.
Strange that no-one seemed to listen when the 10p tax rate was removed; the dividend payments on shares was taxed and other things that have contributed to having less money in our hands.0 -
grizzly1911 wrote: »Interesting you don't want to cut the apron strings, NI for the welfare/pension and the Cotswold plot. Will it be full wack Ni or the bare minimum you can pay?
Full whack. Although I honestly believe the level of services I will receive on my return will be significantly less than is available now, I want to future proof and avoid any future changes to policy that would lose some or all of my entitlement.
I don't know why people have an issue. I will be paying far more than most scummers who never contribute a penny to the system in their lives. Not to forget the significant levels if income tax I have contributed to the system for the past 13 years. Why shouldn't I receive what I am owed? It's what I was promised remember...0 -
As far as a flat rate for state pensions goes....... hurray !
At last, something that seems to make sense, and a "punishment" for the prudent is being removed.
Someone like myself, with a modest private pension, feels that we are being penalised for being bothered to actually save some money for our retirement. My understanding is that under the current system, the person who has a private pension, or has saved for retirement may not be entitled to the means tested "top up". The person who "lived it up", and didn't bother to save gets around £30 extra per week (because they're worth it ?). Flat rate for all is fairer, and it means that those who can save a modest amount for retirement are more likely to do so, as they know they will not be losing out on any state pension "top up".
The overall pension bill will be smaller and the tax take higher. Who do you think will be paying higher taxes - those that are prudent or those that aren't?
There will be very few that turn out to be better off and, on average, everyone will be worse off. Money needs to be saved and I'm all for that - I just wish the government wouldn't focus on the 'winners' because it'll just come back to haunt them when it turns out there are more losers than winners.
Why can't we be treated like adults?0 -
grizzly1911 wrote: »Interesting you don't want to cut the apron strings, NI for the welfare/pension and the Cotswold plot. Will it be full wack Ni or the bare minimum you can pay?
Paul will pay what the NI tell him to pay. There isn't a choice. So far the NI contributions I made into the system from abroad are far greater than what I've received out. In addition I deferred my pension and just on that I will have to be around 70 before break-even - just on the deferred amount. Let alone any NI contributions from either abroad or when I worked in the UK.
Paul is being sensible here.
Are you saying that people in the UK who pay extra contributions shouldn't be doing so?
Some people live longer than the actuaries expect them to and some people die earlier. That's how any private insurance annuity scheme works. The Insurers want you to die early. You want to live longer to profit from the scheme. It's a gamble.0 -
Full whack. Although I honestly believe the level of services I will receive on my return will be significantly less than is available now, I want to future proof and avoid any future changes to policy that would lose some or all of my entitlement.
I don't know why people have an issue. I will be paying far more than most scummers who never contribute a penny to the system in their lives. Not to forget the significant levels if income tax I have contributed to the system for the past 13 years. Why shouldn't I receive what I am owed? It's what I was promised remember...
You will of course be paying more than those they pay jack who are are a small minority.
You have paid "significant" tax for 13 years, many you choose to attack on here have paid significant tax for 40+ years as well as NI.
The vast majority will have paid their share of tax paying the rate deemed necessary by the government even if they aren't what you would deem "significant payers".
I am surprised you are bothered in collecting what is due it will be insignificant in your masterplan."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 -
Jennifer_Jane wrote: »Paul will pay what the NI tell him to pay. There isn't a choice. So far the NI contributions I made into the system from abroad are far greater than what I've received out. In addition I deferred my pension and just on that I will have to be around 70 before break-even - just on the deferred amount. Let alone any NI contributions from either abroad or when I worked in the UK.
Paul is being sensible here.
Are you saying that people in the UK who pay extra contributions shouldn't be doing so?
Some people live longer than the actuaries expect them to and some people die earlier. That's how any private insurance annuity scheme works. The Insurers want you to die early. You want to live longer to profit from the scheme. It's a gamble.
I agree that Paul is protecting his own self interest and that is up to him.
However in jumping ship to protect those interests at minimal cost ( avoiding UK tax which is one in the same as NI apart from entitlement calculations) it is disingenuous to berate those who have paid their share as deemed necessary 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 -
Better than paying 50% and getting nothing of a means tested pension. It's disingenuous to suggest its ok for current retirees to obtain benefits far in excess of those expected to be paid to later generations, whilst expecting major cuts in state services to pay for them too. But apparently "it's what you are owed".grizzly1911 wrote: »You will of course be paying more than those they pay jack who are are a small minority.
You have paid "significant" tax for 13 years, many you choose to attack on here have paid significant tax for 40+ years as well as NI.
The vast majority will have paid their share of tax paying the rate deemed necessary by the government even if they aren't what you would deem "significant payers".
I am surprised you are bothered in collecting what is due it will be insignificant in your masterplan.0 -
Better than paying 50% and getting nothing of a means tested pension. It's disingenuous to suggest its ok for current retirees to obtain benefits far in excess of those expected to be paid to later generations, whilst expecting major cuts in state services to pay for them too. But apparently "it's what you are owed".
But you want it both ways, avoid the taxes but still keep pulling the life raft behind.
At least the people you bemoan rowed the boat in the first place.
You do not know what the future holds for you and your family, the UK, middle east or the wider world."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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