Boomers Pension Gravy Train Finally To Be Derailed

ruggedtoast

ukcarper wrote: »

That's rubbish the vast majority of older people do not have but to lets, all they have done is live in houses that have increased in price.

I'd like to see a detailed breakdown of those figures as apposed to a telegraph article.

Yes, the Telegraph is so critical of boomers isn't it.

Fact is you've had the sweet end of the deal for decades but when it comes time to pass on the honey then the biscuit tin is bare.

You may have done some kind of number on Tricky who's sitting in his unheated 4 bedroom house which is the second most expensive on the estate, in his t shirt without a crocodile, but most youngsters can see what you've been up to.

Boomers have pushed the prices up on property to astronomical levels - then they're like - oh just work harder. As if there is much correlation between hard work and income anyway. Plenty of satisfied bedroom blockers around now where only the man worked in a factory pulling levers.

ukcarper

ruggedtoast wrote: »

Yes, the Telegraph is so critical of boomers isn't it.

Fact is you've had the sweet end of the deal for decades but when it comes time to pass on the honey then the biscuit tin is bare.

You may have done some kind of number on Tricky who's sitting in his unheated 4 bedroom house which is the second most expensive on the estate, in his t shirt without a crocodile, but most youngsters can see what you've been up to.

Boomers have pushed the prices up on property to astronomical levels - then they're like - oh just work harder. As if there is much correlation between hard work and income anyway. Plenty of satisfied bedroom blockers around now where only the man worked in a factory pulling levers.

Explain how exactly boomers have pushed up property prices try without resorting to your normal rubbish.

Sapphire

TrickyTree83 wrote: »

Precisely, got my first house in 2008 (not long ago and just before the crash YAY!), everything in it was hand-me-downs / freecycle and I was living in grandma-chic decor. One of those beautiful avocado green bath suites and a kitchen from the 80's, a black leather recliner sofa with white paint splashed on it, a 4 seat glass top table with only 3 chairs. It all worked, sort of... woodchip wallpaper and built-in wardrobes that made the walls sweat and get mouldy too, certainly had to learn some DIY skills living in a place like that. Mend and make-do, happy times.

I had a bright pink bathroom suite in a flat, which I never changed before moving to another flat. Also a sofa and armchairs from the Thirties that were given to me. My cat tore the arms to shreds and I've had the things re-covered twice since then – and still live with them. I don't like waste and tend to have a bit of a 'rebellious' taste (don't like many of the things I see in shops, since they look cheap to me though they may have high price tags). I prefer characterful old things rather than following trends, though of course kitchens and bathrooms need to function well and be (for me) quite plain in style. I don't go for stupid 'must-have' trends like those gigantic freezers, etc.

Actually, thinking about it, because it was so difficult to buy my place, I now appreciate what I have so much more than I would have done had it been easy.

antrobus

missbiggles1 wrote: »

Most other countries have private/occupational pension schemes as well as the state run ones, I don't know why you think the UK is alone in that. The countries with high state pensions certainly don't get housing costs paid on top!

Neither do most people in the UK get only the basic SRP unless they've been contracted out and, in that case, they'll have a private/occupational pension as well. Someone who's never been contacted out will get more than double the basic state pension. (Obviously based on those retiring before 2016 or whose pension rights under the old scheme are protected.)

You really should have read that Parliamentary Standard Note I linked to;

While net replacement rate comparisons with other OECD countries reveals that the UK ranks 32nd of 34 (as shown above), the UK moves up to 22nd when considering the share of all state social transfers (including supplementary benefits) in total income. The average share of pensioners’ income received from private pensions and other forms of capital ranks 4th in the OECD.

It's always best to research the facts.:)

ukcarper

Nick_C wrote: »

Lots of big private companies used to offer final salary pension schemes. They largely stopped when Gordon Brown raided the pension funds by scrapping tax relief on dividends.

The public sector has also scrapped final salary pensions, increased the retirement age, and increased contributions.

The majority of pensioners I know are well off.

Even people living on the most basic level can live comfortably. Pension Credit means that even the poorest pensioner has £155.60 a week to live on after paying rent; more than twice as much as an unemployed person under pensionable age (£73.10 a week JSA).

I am lucky enough to have a final salary pension but apart from the people I worked with I'm the only one of my friends who have one. The others are trying to decide what to do with their pension pots which apart from the odd one who has received an inheritance are not that large.

Unemployment payment is not comparable to a pension as it should only be temporary.

Moto2

I'm near retiring and have a reasonable pension, house and savings.

Saying that, if I could could swap it all to be a poor twenty something now, I'd do it in the blink of an eye

Thrugelmir

antrobus wrote: »

You really should have read that Parliamentary Standard Note I linked to;

While net replacement rate comparisons with other OECD countries reveals that the UK ranks 32nd of 34 (as shown above), the UK moves up to 22nd when considering the share of all state social transfers (including supplementary benefits) in total income. The average share of pensioners’ income received from private pensions and other forms of capital ranks 4th in the OECD.

It's always best to research the facts.:)

How sustainable are other countries pension schemes though?

I'd be interested to see a table of where the UK sits in terms of saving. Germany for example has a very different mentality to using credit.

ruggedtoast

ukcarper wrote: »

Explain how exactly boomers have pushed up property prices try without resorting to your normal rubbish.

https://www.populationmatters.org/documents/housing_population.pdf

Research indicates the UK needs a minimum of 240,000 new houses per year in order to meet demand. In 2014, less than 120,000 were built2. Rising demand from a growing population and falling household size has resulted in rapidly rising prices. As a result, house prices across the UK far exceed average incomes. A house in Oxford costs 16 times the local average income, whilst Cambridge, Brighton and Bristol are all over 10 times larger than the average local income. London prices, 70% higher than the UK average, are an average of 15.7 times the average London Income3. To put it in context, if the price of a supermarket chicken had risen at the same rate as housing, it would cost over £504.

Boomers have repeatedly voted for governments that have kept housing supply far lower than demand. This has fuelled a boomer housing bonanza which is all very nice for boomers, but pretty grim for everyone else.

Tricky hasn't even got trousers.

lisyloo

Moto2 wrote: »

I'm near retiring and have a reasonable pension, house and savings.

Saying that, if I could could swap it all to be a poor twenty something now, I'd do it in the blink of an eye

I wouldn't

ukcarper

ruggedtoast wrote: »

https://www.populationmatters.org/documents/housing_population.pdf



Boomers have repeatedly voted for governments that have kept housing supply far lower than demand. This has fuelled a boomer housing bonanza which is all very nice for boomers, but pretty grim for everyone else.

Tricky hasn't even got trousers.

That does not answer the question. I don't recall any party saying they would not build houses some have said they would but when elected haven't just as Corbyn will do if by some fluke he is elected.