The Labour Government

Mr Kobayashi said:
Because it's not sustainable. Unless people want to pay more. But even then, today's pensioners wouldn't have paid into a system that pays that amount.

The average NI contributions doesn't provide that level of benefit.
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And yet all these other countries, most poorer, have managed it over the years.

Voting against our own interests have very likely got us here, not everyone has been conned by it though.
 
Mr Kobayashi said:
Because it's not sustainable. Unless people want to pay more. But even then, today's pensioners wouldn't have paid into a system that pays that amount.

The average NI contributions doesn't provide that level of benefit.
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Correct me if I’m wrong but NI isn’t invested for growth, leaving state pensions payable direct from current tax grabs. Maybe think about investing some of the NI contributions taken.

As I say, I may be wrong on this
 
mosssideblue said:
Correct me if I’m wrong but NI isn’t invested for growth, leaving state pensions payable direct from current tax grabs. Maybe think about investing some of the NI contributions taken.

As I say, I may be wrong on this
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I think it almost impossible to determine a complete breakdown of where NI payments go. It is a fact that what you pay in NI does not build up any kind of a personal pot, rather that a minimum time of paying NI eventually entitles the payer to a state pension. You are right that state pensions paid today are taken from general taxation of which NI is an element. It is natural that people do believe that when they say theyv'e "paid in" they think they have accrued a "pot" to which they will be entitled in the future. This is one reason that actually subsuming NI into general taxation, as the Tories wanted to do, would be the first move to breaking that link and so should be resisted if it is raised again. However when people say they've paid in and so they get something out should also realise that paying NI on an average salary only equates to around 7 years of full state pension in actual cash terms. On average people will draw on it for around 10-15 years.
 
mosssideblue said:
Will take much more than the triple lock to get anywhere near comparable country.
Our State Pension is a disgrace, much less than min wage.
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You expect people to work for minimum wage, then get more when they stop working? Was that the idea of old age pensions?
 
mosssideblue said:
Will take much more than the triple lock to get anywhere near comparable country.
Our State Pension is a disgrace, much less than min wage.
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I don;t think the state pension is a 'disgrace' at all.
Basic is £550pm so going off my expenses; 45pm gas and leccy, no rent/mortgage, 120 food, 70 council tax (oaps get upto 100% reduction). That leaves around £315 for beer and tabs.
Obviously not all oap's live rent/mortgage free but if they've 'worked all their lives i'd expect most of them to have paid off the mortgage.
 
stonerblue said:
I don;t think the state pension is a 'disgrace' at all.
Basic is £550pm so going off my expenses; 45pm gas and leccy, no rent/mortgage, 120 food, 70 council tax (oaps get upto 100% reduction). That leaves around £315 for beer and tabs.
Obviously not all oap's live rent/mortgage free but if they've 'worked all their lives i'd expect most of them to have paid off the mortgage.
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Where have you got that from?
£45 gas and leccy maybe OK for you as you are probably out all day, pensioners need more heat than you and are often indoors more
 
mosssideblue said:
Too much of a generalisation there mate. Pensioners need more than you think.
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I think that when people retire (normal working class folk), they usually become too old to go out and spend money after a few years.

We'll be working until we're almost 80. When/where the fuck would I be spending money if I'm not dead by then?
 
As someone that retired from paid work ten years ago, I have done countless school runs and childminding days for our six grandkids, but most of all we were unpaid carers for my mother in law, and then father in law. We did this for love, and got no support from the government. The last three years have been a bit easier because both elderly in laws have passed away, but stop moaning about pension age people having an easy ride please, it has robbed us of our healthy pension age years and now we have lost the chance to enjoy our retirement.
 
Does anyone have any experience with the changes to childcare? Our little one is due in 2 months and we've been told to grab a nursery place asap which we have done. My Mrs is planning to do the full year maternity but once she goes back to work in March 2026 we'll likely need 4 days worth of childcare.

I've read that Labour are keeping the change from 15hrs to 30hrs free childcare per week from September this year but I've also read that this still only covers you for 30hrs over 38 weeks of the year.

I've worked out that if we stretch coverage to 47.5 weeks we'll get 22.5hrs per week paid and we'll need to pay for the other 13.5hrs or so per week. It's bloody complicated! I reckon it will likely cost us around £400pm but I haven't got a clue if I'm working it out right.
 
ballbag said:
I think that when people retire (normal working class folk), they usually become too old to go out and spend money after a few years.

We'll be working until we're almost 80. When/where the fuck would I be spending money if I'm not dead by then?
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All those sites (and financial advisors), that give projections on pension income, get all worked up about it running out before you hit 100.

Frankly, if I hit 100, then I'm pretty sure the previous 20 years will have been spent sitting on the sofa watching TV, and maybe taking the dog for a short walk. There should definitely be more advice on burning through a bit more money before you retire, and then doing as much as you can, while you still can, followed by twenty years where your major cost is a packet of Werther Originals every other week.
 
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