We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Budget
Comments
-
You do realise that the taxpayer makes no direct contributions to defined contribution pensions don't you?
Don't you get tax relief on the contribution?"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 -
Yes you do. You get to put all the money you earned into the pensiongrizzly1911 wrote: »Don't you get tax relief on the contribution?0 -
Archi_Bald wrote: »
I just can't understand why people have a bee in their bonnet when adults are allowed to take charge of their financial affairs. It's long overdue.
Something like 60% of current pension holders, looking for annuities,
simply stayed with their pension provider. they didn't shop around.
With auto enrollment a bigger pool of less savvy people will be roped in.
Adults weren't born equal. As 50% have an IQ of 100 or less who knows what could happen. Some of the 50% that have higher than 100 are similarly clueless in certain fields.
Don't expect everyone to adopt your own standards. A small number deviating will still become a burden on future tax payers."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 -
Yes you do. You get to put all the money you earned into the pension
So without the relief you would have contributed more to the tax pot, at point of receipt, rather than avoiding it.
That means that other taxpayers are making up for your relief."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 -
Sorry glen, gotta disagree on this one
Pensioners need a free bus pass as many can't afford to run a car after retiring, or go from 2 cars down to one. So might need bus services desperately. Also some live rurally so could actually be stranded w/o access to money, food shopping etc. if they could not afford the tickets.
Not to mention that many can't or shouldn't be driving either.
Keeps the cost of insurance down for us all not to mention saving lives/injury of/to the innocent."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: »Adults weren't born equal. As 50% have an IQ of 100 or less who knows what could happen. Some of the 50% that have higher than 100 are similarly clueless in certain fields.
Agreed, you only need to look at the type of questions you get on this forum!0 -
Whether other taxpayers are making up for my relief on money that I haven't paid in the first instance or the state simply spends less is mootgrizzly1911 wrote: »So without the relief you would have contributed more to the tax pot, at point of receipt, rather than avoiding it.
That means that other taxpayers are making up for your relief.
The point I was contesting was the notion that some part of the money that I earn and pay into my pension was somehow not mine0 -
The ability of people to conjure up complaints because someone else gets something they don't should really have been drummed out of them in the nursery.
You misread my post.
The only complaint I was making was at the moment pensioners have their tax code reduced by any pension over a certain limit - £27,000 this tax year. And I was sympathising with those who have retired and not received the age related allowance.
Why are there so many Grouches on here, always being critical and not actually giving any useful information. Don't post if you can't be civil."Look after your pennies and your pounds will look after themselves"0 -
grizzly1911 wrote: »A small number deviating will still become a burden on future tax payers.
I grant you that there will always be some who will fall flat on their faces but that is no reason at all that the vast majority should be restricted on how they deploy their pension funds.
If you are talking about burdens on tax payers, turn your efforts on those who don't make any provision at all for old age.0 -
Opening up pensions is more about getting more money into the economy and raising tax revenues. Plate spinning with little regard for impacts on individuals.
Long term sustainability doesn't register in politicians minds."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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards