Private pensions popular in UK but not in France, Germany, Spain

nigelbb

Terron wrote: »

No, it starts immediately as people get the higher of what they would have got under the old system or under the new system.

However they don't necessarily get the new full single tier rate of £168.60/week.

Thrugelmir

nigelbb wrote: »

That's not what the graph shows which is the blue line for percentage of GDP which in 2009/10 is nearer 8% & in 2018/19 only just over 7%. The growth in monetary terms has been barely 1.6% which is below the historic average of 3.6% which is also the amounted needed just maintain the same level of provision because the growing & more elderly population.

GDP doesn't pay the bills though. Cash does.

Silvertabby

“ No, it starts immediately as people get the higher of what they would have got under the old system or under the new system.
Originally posted by Terron ”

nigelbb wrote: »

However they don't necessarily get the new full single tier rate of £168.60/week.

But some (high earners who have not been contracted out) will still get the maximum possible old State pension plus SERPS/SP2 of a little over £300 per week. Even more if they deferred payment.

nigelbb

Malthusian wrote: »

When someone posts a link in an Internet debate you're not supposed to actually read it. A link to a study serves the same function as a stick with a squirrel skull on the end does for a shaman, you wave it about because it proves you're the Voice of Truth. Five points deducted from Gryffindor.

I looked at the graphs which prove my point that spending on the NHS as a percentage of GDP has declined over the last 9 years. The percentage increase in monetary terms per year has been well below that necessary to sustain the increased demand of an increasing & elderly population.

nigelbb

Silvertabby wrote: »

But some (high earners who have not been contracted out) will still get the maximum possible old State pension plus SERPS/SP2 of a little over £300 per week. Even more if they deferred payment.

That only demonstrates that in some ways the new single tier system is worse than the old as in time one guarantee of the new single tier system is that nobody will be able to get over £168.60 while the previous maximum state pension was about £300.

Terron

Silvertabby wrote: »

But some (high earners who have not been contracted out) will still get the maximum possible old State pension plus SERPS/SP2 of a little over £300 per week. Even more if they deferred payment.

Those aren't the low earners I was talking about.

Silvertabby

Terron wrote: »

Those aren't the low earners I was talking about.

Low earners with no other pensions/income/savings over £X may get a means tested top up to £168 per week.

nigelbb

Terron wrote: »

I know of 2 that have been bought out. The second was due to poor performance.


The point of the PFIs was to keep the borrowing off the national accounts, Nationalizing them would negate that.

It wasn't a PFI but the total outsourcing of Hinchingbrooke Hospital to Circle Health was a total disaster with appalling care due to poor management & cost cutting so the CQC put the hospital into special measures. Circle Health walked away after just 5 years into a 10 year contract because they couldn't squeeze enough profit out of it. It was left to the NHS to pick up the pieces.

Terron

nigelbb wrote: »

That's not what the graph shows which is the blue line for percentage of GDP which in 2009/10 is nearer 8% & in 2018/19 only just over 7%. The growth in monetary terms has been barely 1.6% which is below the historic average of 3.6% which is also the amounted needed just maintain the same level of provision because the growing & more elderly population.

The people who drew the graphs disagree with your interpretation


In cash terms the rate of increase under the coalition was 1.1% pa whilts under the conservatives it has been 2.3%. however there was a financial crisis and recently there has been the uncertainty over Brexit.

nigelbb

Terron wrote: »

The people who drew the graphs disagree with your interpretation

No, they looked at different dates. This graph is more detailed & if you hover the mouse pointer gives actual year by year percentages. In 2009/10 it was 7.59% while in 2019/20 it was planned to be 7.07%

https://www.nuffieldtrust.org.uk/news-item/70-years-of-nhs-spending

Terron wrote: »

In cash terms the rate of increase under the coalition was 1.1% pa whilts under the conservatives it has been 2.3%. however there was a financial crisis and recently there has been the uncertainty over Brexit.

While the increase necessary to keep pace with demand is 3.6%.