Election campaign kicks off

TickersPlaysPop

ukcarper wrote: »

It was in an article about pension returns. Obviously some boomers have big pensions but some young people earn big salaries and have large houses. My pension is considerably smaller than £30k and is larger than most of my friends. To get a final salary pension of £30k you would need to be earning between £50k and £60k and have a full complement of contributions normally 40 years.

So Carper.... Pease can you post the link where you got the value for average pension?

Many thanks

wotsthat

Graham_Devon wrote: »

I'm therefore stuck as to exactly what you are arguing here. I know you are arguing with me.... I'm just not sure what your point is as no one is asking you to pay any more. Your issue seems to be that you are paying for something you don't use, but my example solution specifically means you won't pay a single bean more, precisely because you are not using the service.

I pay more tax in real terms and as a percentage of income for services that I never use or take care to use sparingly compared to 2010. You might think no one is asking me to pay more but I already am.

Stopping bus passes, free TV licenses, prescriptions etc for a few coffin dodgers that are swanning around Europe in motorhomes won't make a jot of difference to the tax I pay. Might make a few jealous feel better but would probably cost as much as it saves.

TickersPlaysPop

Generali wrote: »

So the most accurate measure of the UK housing market is to remove the biggest part of the market:rotfl:

I said misleading, I didn't say accurate... please don't misquote me.

The statistic used, in this case, "Average" should be calculated according to the context of the point the person is making.... why mention UK average house price when the context is the median person, I.e. the majority of the people in the UK.... the majority do not live in London!

Therefore, the uber rich and the stupidly high priced properties should be removed from the average for conversations about the housing market where we talk about "most people".

London is so much higher than the rest of the country it creates a misleading average for the UK.

wotsthat

Cyberman60 wrote: »

It IS when you consider that they could have stayed at Labour's annual deficit levels in 2009 of 160 Billion a year throughout this parliament. Thus in five years the Tories would have spent a further 5 times 60 billion= 300 Billion pounds.

So the Tories have effectively saved 300 Billion since 2010. That IS AUSTERITY and a huge achievement that Labour could never ever match !!! :T

Funny way of measuring an austerity plan. The deficit is huge by any measure and asserting that it's a sign of austerity because it's smaller than a figure you've plucked out of thin air doesn't make it so. In fact it sounds like an updated version of Gordon Brown's 'prudence'.

Graham_Devon

wotsthat wrote: »

Stopping bus passes, free TV licenses, prescriptions etc for a few coffin dodgers that are swanning around Europe in motorhomes won't make a jot of difference to the tax I pay. Might make a few jealous feel better but would probably cost as much as it saves.

Again, I've never suggested that you will be taxed less if others pay more.

Indeed, my whole premise is that, while we freeze spending elsewhere, we bring in more income at the same time. We've got a rather large defecit to attempt to plug.

This is about trying to bring in more money, while at the same time saving money in order to secure the future. I don't pretend it fixes every problem, I'm simply making the point that theres revenue to be raised and spending that can be saved.

How this personally effects you is neither here nor there and was never meant to be. Certainly no one is jealous of you. What an absurd thing to say.

It seems you are arguing with what I have said not because you disagree as such (afterall, you can't). Rather you are arguing with my point because you saw the poster who wrote it.

ukcarper

TickersPlaysPop wrote: »

So Carper.... Pease can you post the link where you got the value for average pension?

Many thanks

Can't find the original link if you google average pension pot uk you will find various figures this says its £36k https://uk.finance.yahoo.com/news/big-income-small-pension-pot-102108414.html

TickersPlaysPop

ukcarper wrote: »

Can't find the original link if you google average pension pot uk you will find various figures this says its £36k https://uk.finance.yahoo.com/news/big-income-small-pension-pot-102108414.html

I've done a bit of digging for you

https://www.abi.org.uk/~/media/Files/Documents/Publications/Public/2014/Pensions/ABI%20statistics%20Q2%202014%20The%20UK%20retirement%20income%20market%20post%20Budget.pdf

The drawdown average pot size is in the 70k region... but I have no idea what drawdown means.

The median is lower than the mean pot size for annuities suggesting there are some very large pensions out there, but We have no idea how many. Also, I wonder if the figures published here are effected by the sneaky tax avoidance practices of accountants that surely have effected these figures? We need raw data to make any sensible conclusions.

ukcarper

TickersPlaysPop wrote: »

I've done a bit of digging for you

https://www.abi.org.uk/~/media/Files/Documents/Publications/Public/2014/Pensions/ABI%20statistics%20Q2%202014%20The%20UK%20retirement%20income%20market%20post%20Budget.pdf

The drawdown average pot size is in the 70k region... but I have no idea what drawdown means.

The median is lower than the mean pot size for annuities suggesting there are some very large pensions out there, but We have no idea how many. Also, I wonder if the figures published here are effected by the sneaky tax avoidance practices of accountants that surely have effected these figures? We need raw data to make any sensible conclusions.

I think the most relevant figure in that link is average pot use to purchase an annuity as that is what the majority of people did this will probably change now.

TickersPlaysPop

Cyberman60 wrote: »

It IS when you consider that they could have stayed at Labour's annual deficit levels in 2009 of 160 Billion a year throughout this parliament. Thus in five years the Tories would have spent a further 5 times 60 billion= 300 Billion pounds.

So the Tories have effectively saved 300 Billion since 2010. That IS AUSTERITY and a huge achievement that Labour could never ever match !!! :T

It is disappointing that people continually use the UK's public finances as a way to say what party is the best... the reality is it doesn't matter who is in power, the UK will do what ever the UK needs to do.

It wasn't new labour that landed us in this mess, it was chance that resulted in labour being in power when the global credit bubble burst happened. I don't support labour by the way! I support political and constitutional reform in the UK, where our MP's truly serve their constituents and don't tow the partly line, hence the recall bill written by 38 degrees.

It was the global negligence of financial institutions, public and private, that has dragged the UK into this mess. Some say it was the inevitable result of the form of capitalism we all live in.

Thrugelmir

wotsthat wrote: »

I don't require A&E services after a night on the razz, I keep fit, don't smoke, keep my weight down and watch my diet. My family history and lifestyle suggests I'll use the NHS less than the average person and then do the decent thing and just drop dead. All I hear though are reasons why I should pay more than the average person.

A friend of mine was feeling under the weather in April. Touch of flu everyone thought. One evening she went into hospital and they kept her in under observation. Within 6 hours she was in intensive care. Where she remained for 3 and half weeks. To see the resources that they use to keep someone alive. Staffing ( one to one nursing 24/7), equipment, drugs was an eye opener. In fact so much equipment there was no where to sit by the bedside. She survived. You can't put a price on some ones life.

However it's something I'm happy to pay even if I never benefit directly myself.