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Equal Benefits for Pensioners
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Right from day 1 of the new Welfare State pension (back in the 1940s) it was made quite clear that the pension was only intended to pay for a very basic standard of living, and that if you wanted more in retirement you had to save for it.Yet, somehow, " The State pension will pay for what you need" has Chinese whispered into "The State pension will pay for everything you want".2
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I have sympathy for the unfortunately, who find themselves potless in retirement due to poor health or who have worked hard for a pittance etc
On the other hand i work with many who bleat about the prospect of living on state pension alone. They earn the same as mě, they rent (i bought with no parental help), they spend 3 hours in the pub straight from work every night(not cheap, i dont). I can think of numerous example of where i believe their priorities are different from mine. When they are too old to work they believe the state will look after them.They do not save towards retirement. These are not lowly paid workers.
Pension credit, housing benefit, plus state pension etc in total must be 20k+? My pension will be a bit more than that and i will own my own home and so will be more comfortable than them, but how are such individuals allowed to be a burden on the state is beyond mě?
Auto enrolement may be a step in the right direction, there are vast numbers of self employed who save squat.
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