Nice People Thread No. 15, a Cyber Summer

chewmylegoff

I am personally expecting fairly aggressive means testing of state pension payments to be introduced in about 15-20 years time.

CKhalvashi

chewmylegoff wrote: »

I am personally expecting fairly aggressive means testing of state pension payments to be introduced in about 15-20 years time.

It's something I'm actually for, despite being one of the losers from it.

I don't advocate doing this on a savings limit, rather a 'guaranteed minimum income', with a taper of maybe 50p in £1 on anything above that.

There is a need to balance the books, and state pensions are one reasonably good way of doing this.

SingleSue

PasturesNew wrote: »

Nothing's changed with any pension changes.....

Before: I didn't understand them whatsoever. I have no private pension.
Now: I don't understand them whatsoever. I have no private pension.

No change!

Mine is

Before : I sort of understood but it sometimes left me confuzzled and I have a private pension (albeit very small)

After: Not a blooming scoobie...and still have a private pension (albeit very small)

Generali

chewmylegoff wrote: »

I am personally expecting fairly aggressive means testing of state pension payments to be introduced in about 15-20 years time.

It wouldn't surprise me in the slightest.

I've long worked on the basis that my generation (I'm 45) would be the one that would be financing two pensions: one for our parents and one for ourselves.

It's inevitable at some point as the accrued, unfunded liabilities are too great for there to be any other outcome.

vivatifosi

chewmylegoff wrote: »

I am personally expecting fairly aggressive means testing of state pension payments to be introduced in about 15-20 years time.

Same here, but possibly a bit earlier as the opt out will have been in place for some time. People are now expected to help themselves by topping up via workplace pensions. Yet I still know plenty who aren't paying. Big mistake (if they are opting out, rather than being ineligible to start).

Generali

CKhalvashi wrote: »

It's something I'm actually for, despite being one of the losers from it.

I don't advocate doing this on a savings limit, rather a 'guaranteed minimum income', with a taper of maybe 50p in £1 on anything above that.

There is a need to balance the books, and state pensions are one reasonably good way of doing this.

State Pensions and the NHS are crippling the UK state. Either they get slashed or most of the rest of the welfare state will have to go. That's just sums.

GDB2222

Generali wrote: »

My view is that the rentier-like asset is the way forward: something that looks like a business asset but that returns a simple income. Something that looks more like a business and less like a passive income.

For example, buying a dozen cement mixers to rent to local builders or a dozen bouncy castles to rent for birthday parties. TBH it's not that different from BTL and probably less effort and less regulated but it makes you into a business and so not to be taxed out of business and less a hated rentier.

Let's face it, when was the last time you heard someone say how great they thought their landlord or bank manager was? Loads of people love the people they do business with though.

Just a thought.

I don't know about cement mixers, but bouncy castles are a lot of work and risk for only a modest return. I chatted to a bouncy castle entrepreneur and watched him picking one up. They are really, really heavy, and have to be delivered and erected. But not heavy enough to stay still in a wind - a different entrepreneur is being prosecuted for manslaughter because one of his blew away and killed a child.

zagubov

Generali wrote: »

It wouldn't surprise me in the slightest.

I've long worked on the basis that my generation (I'm 45) would be the one that would be financing two pensions: one for our parents and one for ourselves.

It's inevitable at some point as the accrued, unfunded liabilities are too great for there to be any other outcome.

I've a cousin in Aus who seems to be professionally involved in pension schemes and funding. Seems to be a major topic of discussion over there.

Are they transitioning already from the pay-for your-parents to the pay for yourself model?

zagubov

I was hoping that prior to retirement, scientists would have given us all access to cooler modes of transport such as this:
https://www.youtube.com/watch?v=lqlrru1V69E
SFW.

michaels

vivatifosi wrote: »

Same here, but possibly a bit earlier as the opt out will have been in place for some time. People are now expected to help themselves by topping up via workplace pensions. Yet I still know plenty who aren't paying. Big mistake (if they are opting out, rather than being ineligible to start).

The more means testing there is of the state pension the lower the value of private pension savings :eek: