Living abroad tips and hints for money savers

droopsnout

Oldernotwiser wrote: »

I don't disagree with much of what you've written but just wanted to point out that the UK government still pays out an enormous amount for university fees!

Don't get me started!! LOL.

If Scotland can do it ...

carrots

Every survey gives different figures because there are so many factors involved, but the UK state pension doesn't look good in any of them.

Here's one from Nov 2007 from the Daily Mail. It's similar to what appeared in other newspapers around that time.

This one is two years old but goes into a lot of detail about the different factors involved in different countries and includes the newer EU states. It's from a Human Resources magazine called Personnel Today.

I couldn't find anything more recent.

donny-gal

I will check out more on the Dutch situation when get back to Spain in a couple of weeks, unless MW can fill us in more. I hope she is OK as she is very quiet atm.

What we have to remember is we were lucky that we were either in the right occupations Civil Servant/Government workers (like teachers), or worked for a Company that provided a final salary pension scheme (as in our case and both of us having a pension). Only last night on the 10 o'clock news, it was saying that very few people can now get into a final salary scheme, and many companies were looking at phasing theirs out over the next few years.

You then have the people who prudently saved into Equitable Life, only to have their pension rug pulled from under their feet.

I wonder how the younger generation will go on when they struggle to meet day to day needs, let alone decide on their own free will to save for old age? Or is their pension going to be the inheritance from us in the form of property?

For our generation it is not too bad, but, it is a nightmare for people on basic pension, as they are getting older to have to fill in all the forms to get, Pension Credit, Council Tax exemptions, etc., etc., I am sure more do not get what they are entitled to than those who abuse it.

DG

Oldernotwiser

droopsnout wrote: »

Don't get me started!! LOL.

If Scotland can do it ...

But my point was that although students have to contribute £3,000 towards their fees, the actual costs are in the region of £11,000 pa . Therefore, despite introducing fees, each student still costs the government £8,000 pa, which is an enormous investment in HE.

donny-gal

And to open up another bag of worms, do they really need 3 years, if they planned it right and had less holidays or days without lectures it could be done in 2! IMHO! :rotfl:
DG

droopsnout

Oldernotwiser wrote: »

But my point was that although students have to contribute £3,000 towards their fees, the actual costs are in the region of £11,000 pa . Therefore, despite introducing fees, each student still costs the government £8,000 pa, which is an enormous investment in HE.

Every country chooses how to spend its money. That's democracy. Scotland has chosen to invest more heavily in its young people than the rest of the UK. In prioritising expenditure, the UK government prefers to invest less in young people than some other places.

That's fine. Those who don't agree can use their vote.

The fundamental debate is whether education is a right or a privilege, allied to the discussion about the needs of the State, and who should pay to have those needs met. (Why is education currently a right until the age of 18, but then a privilege?)

As d-g points out, though, I am very lucky to have been part of a golden generation who paid nothing (or nearly nothing) for a university education, and have a final-salary pension scheme.

EdInvestor

The UK of course has a far more highly developed system of company and private pensions than in Europe.The average total pension income in the the UK is much higher than the basic state pension ( though the average is still brought down by the remaining very elderly ladies who have no pension at all.)

Most europeans probably won;t have any other pension than the state one.I believe average wages are also much lower than the Uk in some countries.

People retiring in the UK now with a full work record on an average salary or better and not contracted out would get a state pension income of around 10k (tax free as well, since our pension tax allowances are high).

Most European countries (and the US) are struggling to fund their state pension systems and are cuttting benefits right and left - and trying to shift the liabilities into the private sector.In fact, looking long term we are quite well fixed.

You also have to bear in mind the multitudinous benefits in the UK - free healthcare, prescriptions, travel, fuel allowances etc. Plus the generous income tax allowances.Many countries have no such pensioner perks. Home ownership is also very high, so pensioners do not usually have to pay rent.

The situation is more complex than it looks IMHO.

seven-day-weekend

droopsnout wrote: »

Every country chooses how to spend its money. That's democracy. Scotland has chosen to invest more heavily in its young people than the rest of the UK. In prioritising expenditure, the UK government prefers to invest less in young people than some other places.

That's fine. Those who don't agree can use their vote.

The fundamental debate is whether education is a right or a privilege, allied to the discussion about the needs of the State, and who should pay to have those needs met. (Why is education currently a right until the age of 18, but then a privilege?)

As d-g points out, though, I am very lucky to have been part of a golden generation who paid nothing (or nearly nothing) for a university education, and have a final-salary pension scheme.

Same for me and my husband, although neither of us paid into the Pension Schemes for the full time, we have at least got them.

droopsnout

EdInvestor wrote: »

The UK of course has a far more highly developed system of company and private pensions than in Europe.The average total pension income in the the UK is much higher than the basic state pension ( though the average is still brought down by the remaining very elderly ladies who have no pension at all.)

People retiring now with a full work record on an average salary or better and not contracted out would get a pension income of around 10k (tax free as well, since our pension tax allowances are high).

Most European countries (and the US) are struggling to fund their state pension systems and are cuttting benefits right and left - and trying to shift the liabilities into the private sector.In fact, looking long term we are quite well fixed.

You also have to bear in mind the multitudinous benefits in the UK - free healthcare, prescriptions, travel, fuel allowances etc. Plus the generous income tax allowances.Many countries have no such pensioner perks.

I agree with this. A few months ago, though, that would have been the end of the story. But at the moment, a lot of people are finding that their pension pot is suddenly worth very little. At that point the safety net of the State pension becomes of increased importance.

And this cheeriness hides the fact that my Mum has about £3 per week more than the threshold for other benefits, and can't be persuaded to spend a bit or give a bit away!!

droopsnout

EdInvestor wrote: »

You also have to bear in mind the multitudinous benefits in the UK - free healthcare, prescriptions, travel, fuel allowances etc. Plus the generous income tax allowances.Many countries have no such pensioner perks.

Free healthcare? Paid for when working.
Prescriptions? Used to be free for everyone.
Fuel allowances? Not paid to most expats.

That said, there are some great perks to being a pensioner in the UK, apart from the above: free TV licence and free bus travel being two.