MrSmith Posted April 28, 2013 Share Posted April 28, 2013 Hear what you say MrSmith, but do you honestly believe someone on £60k+pa is going to neglect effective pension planning because they might miss out on 100 quid a week in state pension? Future generations are going to need every penny they can get their hands on if the babyboomers don't get to grips with the effects of the ageing population and the underfunding historically of long term pensions. No but I do think their effective pension planning might involve hiding the money so they still get the £100 Link to comment Share on other sites More sharing options...
boyfriday Posted April 28, 2013 Share Posted April 28, 2013 No but I do think their effective pension planning might involve hiding the money so they still get the £100 That might be difficult for people in occupational pension schemes, plus hiding the money doesn't qualify it for the generous tax breaks that are available on voluntary pension contributions. Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 28, 2013 Share Posted April 28, 2013 The state doesn't pay for those things, the tax payers pay and the more tax you pay the more you pay towards those things. Indeed. The state spends the money we give it. ---------- Post added 28-04-2013 at 11:36 ---------- With next to zero interest on bank saving, this is when the mattress comes in handy. ---------- Post added 28-04-2013 at 11:23 ---------- They will be investing it in things they can sell as and when they need the money, that way they don't have to declare it as savings. They should be doing what is best for them I guess. Link to comment Share on other sites More sharing options...
MrSmith Posted April 28, 2013 Share Posted April 28, 2013 That might be difficult for people in occupational pension schemes, plus hiding the money doesn't qualify it for the generous tax breaks that are available on voluntary pension contributions. Which is paid back when the pension is drawn, bearing in mind we are talking about pensions that would be taxable. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted April 28, 2013 Share Posted April 28, 2013 You claimed you had rarely claimed benefits, never used the NHS. Created a daft argument that you should be able to claim back your contributions. Then practically knocked it down yourself by claiming that you should be entitled to a few bob, when if you are eligible to claim it you actually can. As for not using the NHS are you seriously saying you lived here for 34 years with a family and non of you visited a GP, visited A&E, ever went in a hospital, had a vaccination, none of your kids were ever seen by a school nurse, none of you ever went to a dentist or ever had your eyes or hearing tested. You will also understand that if you had ever needed it, like if you set yourself on fire or something, that the NHS was ready to care for you. After the fire brigade put you out of course. Yes. British Military (we - back then - provided our own healthcare.) ... non[e] of you visited a GP, visited A&E, ever went in a hospital, had a vaccination, none of your kids were ever seen by a school nurse, none of you ever went to a dentist or ever had your eyes or hearing tested. The answer to all of the above is 'No'. The government (who spent a small fortune keeping me 'fit to fly weren't about to have their investment trashed by sending me to the NHS. There's nothing wrong with the NHS, of course. - But if you're spending half a million quid keeping this guy fit to fly and you have your own hospitals, are you really going to let some amateur look after him? As Aircrew I was strictly forbidden to receive treatment from an NHS Dentist. (Too effing dangerous! - If they botch your teeth and one explodes, how the hell are you going to bring our expensive aircraft back? - You'll probably dump it, just because you're in a bit of agony! What do you mean?, says I "Well, NHS dentistry isn't up to our standards'* said the representative of HMG. I should indeed be entitled to a few bob. - And I can (could) legally claim 'Heating allowance' but I din't think I should be entitled to do so. (Don't shout at me, Richard I don't make the rules.) Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 28, 2013 Share Posted April 28, 2013 Yes. British Military (we - back then - provided our own healthcare.) ... non[e] of you visited a GP, visited A&E, ever went in a hospital, had a vaccination, none of your kids were ever seen by a school nurse, none of you ever went to a dentist or ever had your eyes or hearing tested. The answer to all of the above is 'No'. The government (who spent a small fortune keeping me 'fit to fly weren't about to have their investment trashed by sending me to the NHS. There's nothing wrong with the NHS, of course. - But if you're spending half a million quid keeping this guy fit to fly and you have your own hospitals, are you really going to let some amateur look after him? As Aircrew I was strictly forbidden to receive treatment from an NHS Dentist. (Too effing dangerous! - If they botch your teeth and one explodes, how the hell are you going to bring our expensive aircraft back? - You'll probably dump it, just because you're in a bit of agony! What do you mean?, says I "Well, NHS dentistry isn't up to our standards'* said the representative of HMG. I should indeed be entitled to a few bob. - And I can (could) legally claim 'Heating allowance' but I din't think I should be entitled to do so. (Don't shout at me, Richard I don't make the rules.) So you still had government provided healthcare. Thanks. I thought so. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted April 28, 2013 Share Posted April 28, 2013 Getting back to the point. We, You, the Nation , Our Children are short of money. ALL benefits (Including my pension) should be means-tested. ---------- Post added 28-04-2013 at 11:48 ---------- So you still had government provided healthcare. Thanks. I thought so. No, I had employer provided healthcare. My employer refused to allow me to use government (the stuff you get) provided healthcare. Link to comment Share on other sites More sharing options...
boyfriday Posted April 28, 2013 Share Posted April 28, 2013 Which is paid back when the pension is drawn, bearing in mind we are talking about pensions that would be taxable. Those contributions accumulate in a tax free environment and qualify for relief at the highest rate paid, tax paid on pension income for the majority of people will be at the basic rate, so it still represents a handsome means to invest money compared to hiding it under your mattress. Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 28, 2013 Share Posted April 28, 2013 Getting back to the point. We, You, the Nation , Our Children are short of money. ALL benefits (Including my pension) should be means-tested. ---------- Post added 28-04-2013 at 11:48 ---------- No, I had employer provided healthcare. My employer refused to allow me to use government (the stuff you get) provided healthcare. You worked for the British military. Who pays for that? Link to comment Share on other sites More sharing options...
MrSmith Posted April 28, 2013 Share Posted April 28, 2013 Those contributions accumulate in a tax free environment and qualify for relief at the highest rate paid, tax paid on pension income for the majority of people will be at the basic rate, so it still represents a handsome means to invest money compared to hiding it under your mattress. There are other ways of investing money in a tax free environment and we are talking about wealthy pensioners so their pension will put them into the higher tax bracket. Link to comment Share on other sites More sharing options...
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