Ms Macbeth Posted April 6, 2018 Share Posted April 6, 2018 Which is why the state pension is being simplified. The state pension is there as a safety net; 'strongly encouraging' individuals to save for their old age to have a better standard of living is EXACTLY the right thing to do when we can't rely on adults being responsible enough to do it themselves. And if their overseas holidays and iphones and smoking habit means they genuinely can't afford it, employers are not obligated to contribute also - they get no opt-out option. How anyone can see this as a bad thing is beyond me. ---------- Post added 06-04-2018 at 15:14 ---------- The returns the very low paid will get in retirement will be tiny The returns the very low paid will get in retirement will be directly related to two things: the amount they put in, and the performance of whatever asset class their money was invested in, minus fees. Either way, it will be much better than the NOTHING they will get if they are not 'encouraged' to save for the future. The recent changes to the now almost universal basic state pension, should mean in future people who've made even small contributions will be better off in retirement than those who haven't. At the moment, those of us who have small extra pensions are often little better off than people on pension credit because it's means tested. Link to comment Share on other sites More sharing options...
ALAN 58 Posted April 6, 2018 Share Posted April 6, 2018 So you're arguing that what? People can opt out, and then live on just the state pension alone when they retire (if that still exists at that point). Is that what you want people to do? ---------- Post added 06-04-2018 at 17:20 ---------- Whoever you will it to, just like any other asset you leave. State Pension is not an asset that is passed on it dies with you. so i am led to believe. Link to comment Share on other sites More sharing options...
truman Posted April 6, 2018 Share Posted April 6, 2018 State Pension is not an asset that is passed on it dies with you. so i am led to believe. But it isn't a state pension we're talking about.. Link to comment Share on other sites More sharing options...
ALAN 58 Posted April 6, 2018 Share Posted April 6, 2018 But it isn't a state pension we're talking about.. Thanks for clearing that up. Link to comment Share on other sites More sharing options...
Cyclone Posted April 6, 2018 Share Posted April 6, 2018 State Pension is not an asset that is passed on it dies with you. so i am led to believe. This isn't about the state pension though. Link to comment Share on other sites More sharing options...
Car Boot Posted April 6, 2018 Share Posted April 6, 2018 The recent changes to the now almost universal basic state pension, should mean in future people who've made even small contributions will be better off in retirement than those who haven't. At the moment, those of us who have small extra pensions are often little better off than people on pension credit because it's means tested. And of course there will be no means testing of pensions in the future, will there? No future government would dare do that...? Auto enrolled pensioners will have their state pensions reduced by their auto enrolled pensions! It could never happen, trust the politicians! Link to comment Share on other sites More sharing options...
Ontarian1981 Posted April 6, 2018 Share Posted April 6, 2018 (edited) Animal lover kittie? Not necessarily, just goes to the seaside a lot Edited April 6, 2018 by Ontarian1981 Link to comment Share on other sites More sharing options...
Padders Posted April 6, 2018 Share Posted April 6, 2018 Not necessarily, but goes to the seaside a lot :hihi:...... Link to comment Share on other sites More sharing options...
willman Posted April 6, 2018 Share Posted April 6, 2018 And of course there will be no means testing of pensions in the future, will there? No future government would dare do that...? Auto enrolled pensioners will have their state pensions reduced by their auto enrolled pensions! It could never happen, trust the politicians! It should happen - your assumption is that the state pension will be liveable in the future ,it won't. Anyone starting out in work now is going to be in serious trouble if they don't do something. Link to comment Share on other sites More sharing options...
Funky_Gibbon Posted April 6, 2018 Share Posted April 6, 2018 It should happen - your assumption is that the state pension will be liveable in the future ,it won't. Anyone starting out in work now is going to be in serious trouble if they don't do something. Anyone started out working now is already in serious trouble because they'll go into retirement still having to pay commercial rates of rent because so many of them won't ever be able to buy a house. Link to comment Share on other sites More sharing options...
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