Work in retirement or received reduced pension!!

[Lotusflower]

I never look back. But I am starting to look up, hoping to see you flying by on the carpet.

 

Just another sad little troll then.

Devoid of any ability to debate in a sensible fashion and makes assumptions about other forum members based on their user name.

 

Of course, you can prove me wrong; and if you do I will apologise.

[nikonuser]

I do despair at the attitude that the younger generation have towards their elders.

Chem1st comment that pensioners havn't paid anything towards retirement is a total fallacy, what is the national insurance that people have paid over the years, in my case i have never recieved any benefits since i started work and have paid NI EVERY week since Aug 1964.

 

The NI paid at the time funded the benefits required at the time and was never intended to be solely for the benefit of the payee. This system worked when virtually everyone was in employment and the promise was that we would recieve the same when we needed benefits.

 

As people of our generation now approach retirement the workforce as deteriated and cannot now fund this system but as this was the promise, not many funded their own retirement expecting the promise to be fulfilled.

It's just unfortunate that at this stage the scheme as collapsed and the money is not available, but it is equally unfair to call the current retirement generation scroungers and not deserving of a pension.

 

Yes a new system needs to be put in place, but the "transitional" generation still needs to funded and shouldn't be moaned at as scroungers.

 

As for saying we have not paid enough in, what of some parts of this current young generation who will never pay anything in through their own choice, preferring to be funded by the government instead of working, will they still expect their pension in 40 odd years time?

[quisquose]

It seems so me that as we live longer and healthier we should ...

 

Sleep more, breathe more, laugh more, walk more, talk more, rest more, play more, and ... yes indeed work more.

 

Simples.

[truman]

Aye, assuming 6% of salary paid as pension. Let's say for 50 years (up until being 67). Then one will have paid in enough for 3 years pension of average salary.

 

And if your a chain smoking alcoholic that pays vast amounts of DUTY, maybe you have paid enough to cover the state pension that you get regardless.

 

Before we start measuring benefits like; free bus pass, fuel allowance, free scripts etc.

 

What do you think an average oap's salary would have been..state pension is £102 a week ..that's around 5 k a year..

[chem1st]

I do despair at the attitude that the younger generation have towards their elders.

Chem1st comment that pensioners havn't paid anything towards retirement is a total fallacy, what is the national insurance that people have paid over the years, in my case i have never recieved any benefits since i started work and have paid NI EVERY week since Aug 1964.

 

NI is just a tax, besides, younger people pay more in NI than what you did. We also now pay NEST, and our retirement age has risen and will continue to rise.

 

The article in the OP contains this statement;

 

The panel was told that the transfer of wealth from young to old in the UK was the highest in Europe.

 

Recent data was also released showing that for the first time since records began the income of people in their 60s and above has overtaken the incomes of people in their 20s.

 

http://www.ft.com/cms/s/0/868b3520-6eba-11e1-b1b2-00144feab49a.html#ixzz2AF0V4l1k

 

Financial Times research shows that for the first time the generation entering the labour market today will not enjoy the fruits of greater prosperity, higher incomes and broader opportunities, as did their parents. Instead, they will do no better than previous generations.

 

By contrast, living standards among older people entering the age of retirement are much higher than those of their forebears. Disposable incomes of householders in their 60s have overtaken those of householders in their 20s for the first time since official household income data were collected 50 years ago.

The FT’s research underestimates the shift in prosperity towards older people in Britain because it takes no account of housing costs, which are higher for many young people, After those costs are taken into account, living standards of householders in their 70s and 80s now exceed those of households in their 20s.

 

 

The NI paid at the time funded the benefits required at the time and was never intended to be solely for the benefit of the payee. This system worked when virtually everyone was in employment and the promise was that we would recieve the same when we needed benefits.

 

You are right that NI got spent as soon as it was collected. But when you say everybody was in employment that is not the case. The proportion of working age people in employment has remained pretty much constant for a long, long time, and is in fact marginally higher today that it was in any of the previous 4-5 decades!

 

As people of our generation now approach retirement the workforce as deteriated and cannot now fund this system but as this was the promise, not many funded their own retirement expecting the promise to be fulfilled.

It's just unfortunate that at this stage the scheme as collapsed and the money is not available, but it is equally unfair to call the current retirement generation scroungers and not deserving of a pension.

I haven't called them scroungers. What I have said is that pensions ARE BENEFITS. What we should do is reduce them slightly. Pensioners will still be well off, and better off than any of the pensioners that have preceded them.

 

Pensioners have never had it so good!

 

Yes a new system needs to be put in place, but the "transitional" generation still needs to funded and shouldn't be moaned at as scroungers.

Who has called them scroungers?

 

As for saying we have not paid enough in,

 

You haven't paid enough in, that's a simple fact, hence the increasing tax burden on the young.

 

what of some parts of this current young generation who will never pay anything in through their own choice, preferring to be funded by the government instead of working, will they still expect their pension in 40 odd years time?

 

Perhaps some won't, but there is always a hardcore that don't. Most WILL. They won't expect their pension in 40 years time, because they cannot retire on pension credit at 60, they will have to wait 50 years, and pay more into the system for the privilege of working longer for less!

[buck]

Are they hell. your policy of robbing the rich has never worked ANYWHERE in the world. Why work hard to better yourself only to have your money taken away to give to those who have not been successful?

 

If you are so sure the recession was created by greedy bankers, please explain how this happened? what did they do to create the recession?

You're right. The rich are not restricted in where they choose to live. Almost any country will welcome them and their money. Only the poor are stumped with living their lives in a country that puts more and more burdens on them. Blaming the rich is popular and wrong.

[1910 semi]

What about people who retire abroad ?

[Rupert_Baehr]

What about them?

[1910 semi]

What work are they going to do in another country that will be of any benefit to this one.

[buck]

What work are they going to do in another country that will be of any benefit to this one.

They probably won't care. Why should they?