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Spending Review: state pension age to rise early

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  • edited 20 October 2010 at 5:52PM
    moonrakerzmoonrakerz Forumite
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    edited 20 October 2010 at 5:52PM
    bendix wrote: »
    Why is everyone such a maudling victim?

    Now come on - you can't blame it on poor old Reggie Maudling. He was Chancellor back in the 60s :D:D
    Every year the UK government loses £42 billion to tax avoidance'

    This looks suspiciously like a "think of a number and [STRIKE]double[/STRIKE] triple it" figure.

    As tax avoidance is a perfectly legal "pastime" - how is this figure arrived at ?
    When the Government announces a tax increase, there is always some notice given - any purchases made before the increase comes into effect (VAT in Jan 2011 !) is perfectly legal "tax avoidance".
    Of course none of the members of this forum would indulge in such underhand tactics - would they ??? :D:D
  • What have they said about people who sit on their a$$ claiming income support... What they gonna do about them??

    I thought they were cutting welfare by £7billion a year...
  • cashbackproblemscashbackproblems Forumite
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    You're really complaining about giving a few pence/pounds a year to people surviving on a couple of dollars a day?

    Sorry, but this sickens me.

    Good comparison here:

    http://www.cafod.org.uk/about-us/how-we-work/standards/aid-q-as

    'Currently, only around one per cent of our taxes are spent on international aid (the UK aid budget for 2010/11 is £9.1 billion). Every year the UK government loses £42 billion to tax avoidance'

    I agree. This and the nhs review are the only things which i feel strongly must be protected and improved.

    The new rules are coming into place by 2020, those retiring soon will be fine and those in their 20-40's have plenty of time to prepare and start saving for a private pension or investing in funds, youv gota assume tht there is no state pension and try fund it yourself. Im sure the age will increase even further in the coming yrs.

    Leaving your money in a savings account wont be enough either, uv gota invest it to make money.
  • Eco_MiserEco_Miser Forumite
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    Firstly, it won't take long for all the 'I paid into it all my life and now I don't get it' merchants to winge. They need to understand that they never 'paid into' it, but actually contributed to people retired years ago.

    Ahh! A Ponzi scheme! Bernie Madoff should have used that argument in his defence.
    Eco Miser
    Saving money for well over half a century

  • Everyone should opt-out of the optional state pension scheme.

    We'll never get paid when we work ourselves into the grave.
  • dunstonhdunstonh Forumite
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    Everyone should opt-out of the optional state pension scheme.

    What state pension scheme is optional?

    opt-out is the term used for someone "opting out" of an occupational pension scheme. It has a negative vibe to it as its generally considered that someone that has opted-out has made the wrong move.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Ian_WIan_W Forumite
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    Frozenace wrote: »
    We'll never get paid when we work ourselves into the grave.
    Erm, the problem seems to be that not enough of us are working ourselves "into the grave" or at least not an early enough grave. Your generous offer to work yourself into the grave is greatly appreciated, by me at least! ;)

    Perhaps it's just me being daft, but I find the idea of living longer rather appealing. :cool:
  • goamikegoamike Forumite
    113 posts
    Why should people who have worked all thier lives, have to work extra, me personally think its disgusting and they are robbing me of a years pension.

    Okay for the likes of kenneth clark, ian duncan smith to state its okay to work extra years because we are living longer, what will be they doing a couple of hours a day in a nice leather chair and a nice big pension to look forward to. At least the french give it a fight.

    And by the way i have made provisions for my pension as i will be going on the dole at 65 snd the state can look after me for a year !!!!
    Keep right on :T :beer:
  • dunstonhdunstonh Forumite
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    Why should people who have worked all thier lives, have to work extra, me personally think its disgusting and they are robbing me of a years pension.

    You dont have to work extra. You only need to work as long as you want to and need to.

    The UK's current average retirement age for men is between 62 and 63. The state pension age is unlikely to change that. It clearly shows that a good proportion of the population have been funding their retirement provision. The only ones that are going to lose are those that don't take personal responsibility for their finances.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • hugheskevihugheskevi Forumite
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    And by the way i have made provisions for my pension as i will be going on the dole at 65 snd the state can look after me for a year !!!!

    Reminds me of one of my favourite quotes...Aim low and achieve :D
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