Protect our pensions petition

Caretaker1 said:
My wife and I have worked and paid tax for over 90 years between us and you and the government of the day think inching towards 10k per annum is too much .
Unbelievable.
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My problem isnt with state pension being too high - it isnt, its probably too low in a perfect world

My problem is with giving huge gains to people due purely to Covid when taxpayers/ the economy is on its knees

There are too many people of retirement age who are very well off and at a level that younger people will almost definately never get to - remember the old days of cheap housing to buy, government paying you to go to University etc etc

Young people (of which I am not) must be very jealous of people who could afford an affordable house and didnt have a life time of debt to look forward to
 
OttersBoro said:
But its complicated though isnt it ...as imagine you know

UK is largely a flat rate... other countries arent therefore skewed by rich pensioners

UK historically has had an expectation of people putting money into their own pension pots where some of those comparables eg I believe the likes of Spain or France they dont save anything

You can go on ... Germans dont have high house ownership, how does that compare to UK pensioners using equity release from homes bought cheaply years ago

Either way in simple terms lets say Economy goes down by 15% one year then up by 9% next year (partial bounce back) .. on triple lock pensioner gets 2.5% and 9% whereas the taxpayer loses 15% then gain 9%.... no sure many young folk would see that as fair as they scrimp and save for a deposit.
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it really isn't complicated, we are ultra capitalist, people work their lives keeping teh economy moving, and get very little back when old. Some of the variables you state are not even significant. Equity release as an example is a fairly modern adoption in this country. Spainish do have personal pensions and similar taxation. If we had massively low taxations to offset that we 'have our personal pensions' then it might be a sensible argument
 
Caretaker1 said:
It's only complicated by statistics and figures .
It's less complicated if you think in terms of treating people fairly after a lifetime of work .
And affordability is only a case of not squandering squillions elsewhere .
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BoroMart said:
it really isn't complicated, we are ultra capitalist, people work their lives keeping teh economy moving, and get very little back when old. Some of the variables you state are not even significant. Equity release as an example is a fairly modern adoption in this country. Spainish do have personal pensions and similar taxation. If we had massively low taxations to offset that we 'have our personal pensions' then it might be a sensible argument
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Oh ok, didnt realise we are ultra capatalist good to know that

Also just dont get some of this... equity release is new and therefore its not signifcant ... ??? what does that mean
 
Signed………however it’s not as straight forward as it seems when it comes to reasoning. What CtC said was spot on and OttersBoro needs to stick his brain in gear before typing but people can be forgiven for having conflicting views.
’We’ve all paid taxes for a lifetime and not only do we deserve it but more importantly
it’s ours and people should be looked after in their old age and it’s and it’s a disgrace that their not. However flip the coin and look at voting patterns of the elderly and the word “Turkey’s“ springs to mind. Then you think “and those smug ”boomers” can f**k off and it takes on a whole new perspective.
However the saddest part is if as probably will happen the spineless Tory b*****ds do a u turn which downtrodden poor people will they turn around and kick to make up the difference?
 
If this government was proposing giving "young people" a big tax break I can guarantee that some numpty/shill would be on here wanting us to think about the pensioners.

And in such ways are we managed.
 
A few things need to be realised. You pay tax on your pension - be it at the level you paid tax. A lot of people retiring do not have any savings or private pensions - for whatever reason. A number are taking money out of the equity of their home ( equity release) to give them a lump sum to help live. And perhaps have a bit of money to fall back on.

So not all straightforward by any means.
 
Muttley said:
If this government was proposing giving "young people" a big tax break I can guarantee that some numpty/shill would be on here wanting us to think about the pensioners.

And in such ways are we managed.
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Muttley

I think the point is that giving a Tax break isnt the Government giving away its money its making a decision about how to distribute our money - that Tax break to the young person is being paid for by the rest of soceity. Personally I would have concerns about how future taxpayers pay it back with debt/ gdp levels we have.

If someone wrote that they dont think the tax break should be given I dont think they would be a numpty or a shill - perhaps they think money should be invested in health or education.

My overall problem is that I just dont like passing on huge debts to the younger generations.
 
The fact I paid tax all my like is and should be irrelevant. I used the facilities of this country. I went to school, there is a police force, I used the NHS, I contributed to defense and all other agencies. I.e I benefitted for my tax payment.

Old age pension should be at a rate that gives the poorest in society a decent living, as should Universal Credit. I don't know what it is but a minimal say £200 a week seems right.

It's irrelevant if you paid tax or not.
 
just about to be hit with huge energy increases. fuel prices going sky high again, rail fares up.....I'm a pensioner and I've signed it....whatever they give they find a way to take it back off you anyway
 
Keelo said:
just about to be hit with huge energy increases. fuel prices going sky high again, rail fares up.....I'm a pensioner and I've signed it....whatever they give they find a way to take it back off you anyway
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I pay less for my Light and Heat than I did 10 years ago. Petrol was dearer 8 years ago. Supermarket beer never seems to go up.
 
Corcaigh_the_Cat said:
How short termist is this. We're all going to become pensioners, well those of us lucky enough to live that long.

Do you think that those who have contributed to society should receive less than the poor pension that they're currently given?
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Question for you Corcaigh and in line with the fact that the State pension has increased in real terms over the decades.

When you were younger did you set up a petition to increase the levels of state pension. When you were paying taxes that paid for a lower state pension were you kicking up a fuss then or is it only now??

By the way if you are say 30 years old and writing that - then all power to you

By the way I am not quite yet at pensionable age but like most people of my age think I have probably 'contributed' to society and have done for many years. Furthermore, I also think my kids contribute to society in a positive way.
 
OttersBoro said:
Question for you Corcaigh and in line with the fact that the State pension has increased in real terms over the decades.

When you were younger did you set up a petition to increase the levels of state pension. When you were paying taxes that paid for a lower state pension were you kicking up a fuss then or is it only now??

By the way if you are say 30 years old and writing that - then all power to you

By the way I am not quite yet at pensionable age but like most people of my age think I have probably 'contributed' to society and have done for many years. Furthermore, I also think my kids contribute to society in a positive way.
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A case for why it may make sense.

However, that does not mean all pensioners are going to be laughing all the way to the bank.

The UK state pension is one of the less generous in Europe.

Former pensions minister Sir Steve Webb said it was still "far from a King's ransom".

In addition, lots of low-paid workers have lost their jobs during the pandemic, the OBR points out. The effect of that trend is that it skews the comparison of wages, meaning that average wages are driven by higher paid workers and rising faster.

That means the people who are losing their jobs now, are the very same people who are more likely to rely on the state pension in the future. They will not have built up additional private or workplace pensions.

Extract from here
 
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