Thanks for that post may I add to your Spanish comparison by looking at their tax system which I contribute to.Whilst tempting I always find these country comparisons strange. No system is the same so it’s almost impossible or pointless to compare.
Let’s look at Spain as an example as they would appear to have a generous pension compared to UK, the UK state spends something like £107bn more on healthcare per year than the Spanish state - that’s the equivalent of an extra £700 in every pensioners pocket each month. We spend more on defence (£40bn - that’s another £275 each month for pensioners) and so on and so forth. But then you have to remember the Spanish system is based on how much you’ve contributed to the system - high earners get more, low earners get less (min £809 per month and maximum is £2560 per month).
Similar stories in Luxembourg, Italy, France etc where what you get out is based on what you put in. I like that our system pays the same, be you a paupers or a king (assuming you’ve made all your contributions).
Rooting around HMRC I can see I have a COPE pension forecast as well as State and its £30.57 a week?
Fucked if I know what that is or where it’s come from?
Got my forecast , three yrs to wait £221.28 a week , not much is it really after working for so long , not much going on in the private pensions for me i think , will get all mine together and see what it all equates to , is it better to merge them into one pot ? Simplier to sort out come the time i guess ?
The country is broke, remember covid and the government throwing money around like confetti...I wonder how many other countries manage to pay much higher pensions and not "means tested". Means testing is an awful way to treat your elderly population many of whom struggle to heat their homes and buy food. They have already "means tested" plenty of legacy benefits by moving them on to Universal Credit or making them claim Pension Credit. Where is all this money going to? Nearly 14 years of austerity and making savings yet the country is still broke? I'm not having it.
Find another way to save money not by taking money off old people.
The country is broke, remember covid and the government throwing money around like confetti...
Because it generates votes from racist or xenophobic simpletons.If as you say ''The country is broke'' how come we are spending £400 million not sending people to Rwanda?
Much of that money being thrown around went to their donors.The country is broke, remember covid and the government throwing money around like confetti...
Update for those in a similar position.
Just received a letter from Phoenix Life confirming I opted out in April 1988 and that my fund with Britannia with Profit is sat with £43790.10.
Incredible as its cash I literally had zero clue was mine and had forgotten about.
Everyone around my age, get online, check HMRC and see if you have a COPE pension and if it says you do then get looking.
Donors, con merchants, etc etc a cluster fuckMuch of that money being thrown around went to their donors.