An alternate to the State Pension - blue sky thinking.

theGrinch

The Aussie Superannuation isnt perfect, but its a start. It would work better with stronger regulation (thats a different topic), but its a step forward on what we have for a host of reasons.

Employer and Employee contributions should be helped with a tax break on the part of the Government especially, but not exclusively at lower ends of the income scale.

hyubh

peterg1965 wrote: »

To be fair to the current Coalition they are trying to tackle some long term issues when previous administrations just kicked the can down the road - public sector pensions

Hardly. All the major public sector schemes were reformed under Labour, and despite all the rhetoric, the 2014/15 reforms aren't any more radical. E.g., it was the Labour government that introduced banded employee contribution rates in the LGPS, pushing up the average contribution rate in the process (the 2014 reforms won't do that), phased out the 85 year rule in the same scheme, closed the frankly absurdly generous 1987 police scheme to new entrants, etc.

peterg1965

I put this up as a point for discussion, I am not saying it is a good idea or a bad idea and clearly isn't for the majority of people. I also was not really wanting to become too specific n terms of figures but just general points for debate. Who is to say that the State Pension won't become means tested at some point, so maybe something like this could be an alternative to that.

grey_gym_sock

nothing wrong with putting it up for debate. though it's pretty obviously a bad idea IMO.

in what sense would it be an alternative to means-testing the state pension? means-testing the state pension would save the public sector some money, but this idea would cost money.