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"The lowest state pension in the developed world" 12:55 - Dec 14 with 956 viewsdirk_doone

I know it's the Daily Express, which probably has a higher percentage of pensioners reading it than most papers, but this article brings home how poorly old people are treated by the government in this country, when compared to other developed countries. Are we falling behind other countries so badly that we are no longer on a par with the so-called developed countries?

https://www.msn.com/en-gb/money/other/state-pension-outrage-as-savers-in-the-uk-

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"The lowest state pension in the developed world" on 13:52 - Dec 14 with 907 viewssaint901

Would agree that we treat our old people quite poorly but a couple of points.

First, around 90% of countries have no state pension provision at all. Some of these will be second or third world countries but nonetheless these is nothing.

Second, there is a huge problem in the UK with state pensions being paid to people who frankly don't need it.

It would be a harsh decision to deny a pension to somebody who has earned well over their working life and paid their contributions but if they have other income above a given limit (which in my head would be a percentage of earnings from the last job rather than a hard limit) then do they need the pension?

I have no idea if removing that entitlement from a few would mean that the money could go to those more in need in significant quantities, but it might be worth finding out?
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"The lowest state pension in the developed world" on 14:03 - Dec 14 with 893 viewsGennaro_Contaldo

The main problem surely is that our healthcare is so good that our life expectancy has increased dramatically, meaning far more is paid out in pensions than ever before - AND with a growing population.

In fact, here you go; https://www.macrotrends.net/countries/GBR/united-kingdom/life-expectancy

LE now: 81.52
LE 2000: 77.67
LE 1980: 73.48
LE 1960: 70.78

So in the last 20 years, another 4 years of pension payments added on (average) to everyone entitled to one and since 1980, nearly another 10 years of pension payments added on average to everyone entitled to receive one.

Personally I think most people will be working in some form now until the 1960 LE age of 70, which is frightening. But there are a HUGE number of years added on average to everyone's life which will have a huge impact on the overall pension pot.

I'm not saying it's right, but it's a big factor. Yeah we could pay more taxes, but people want more in education, in health, in welfare - where does it end?

We also need to better educate everyone to have their own private pension, stick as much in as you can afford from the earliest you can start. If you start working at 17, start one, even a couple of percent, it'll make a massive difference - then yes, we should means test private pensions in some way. If you get an income >£x from your private pension, then do you need the state pension? Controversial that one though.

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"The lowest state pension in the developed world" on 17:40 - Dec 14 with 798 viewsSaintNick

"The lowest state pension in the developed world" on 14:03 - Dec 14 by Gennaro_Contaldo

The main problem surely is that our healthcare is so good that our life expectancy has increased dramatically, meaning far more is paid out in pensions than ever before - AND with a growing population.

In fact, here you go; https://www.macrotrends.net/countries/GBR/united-kingdom/life-expectancy

LE now: 81.52
LE 2000: 77.67
LE 1980: 73.48
LE 1960: 70.78

So in the last 20 years, another 4 years of pension payments added on (average) to everyone entitled to one and since 1980, nearly another 10 years of pension payments added on average to everyone entitled to receive one.

Personally I think most people will be working in some form now until the 1960 LE age of 70, which is frightening. But there are a HUGE number of years added on average to everyone's life which will have a huge impact on the overall pension pot.

I'm not saying it's right, but it's a big factor. Yeah we could pay more taxes, but people want more in education, in health, in welfare - where does it end?

We also need to better educate everyone to have their own private pension, stick as much in as you can afford from the earliest you can start. If you start working at 17, start one, even a couple of percent, it'll make a massive difference - then yes, we should means test private pensions in some way. If you get an income >£x from your private pension, then do you need the state pension? Controversial that one though.


There is a lot more emphasis on pensions than ever before, auto enrolment means every company has to enrol their employees into a pension and hopefully in around 30 years time we should see the benefits with the workforce having larger personal pension plans and not having to rely on the state so much

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"The lowest state pension in the developed world" on 17:49 - Dec 14 with 789 viewssaint901

As an employer I can assure you that many employees objected strongly to being enrolled in a pension scheme, even though we were matching or exceeding their contribution. This was especially prevalent in the younger employees, many of whom opted out as soon as they could.

I do agree that the UK got itself into a mess. First Gov't "borrowed" the NIC meant to partially fund pensions and did not repay that. Billions of pounds. Second, the population average age grew (I think it's around 41 now) and there is not a population of young earners topping up the pension fund. Third, many of those who retired, esp from public service have gold plated inflation linked pensions that cost a fortune. Fourth, the so called triple lock was a huge error.

Sadly the latest hikes in NIC which should be used for topping up the fund will all be diverted into Covid relief and health care.

All of the pension stuff was foreseeable and Gov't was being warned from the late 1980's but cash in the hand and leave pensions to the Gov't of the future was the name of the game.
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"The lowest state pension in the developed world" on 18:58 - Dec 14 with 731 viewsGennaro_Contaldo

"The lowest state pension in the developed world" on 17:40 - Dec 14 by SaintNick

There is a lot more emphasis on pensions than ever before, auto enrolment means every company has to enrol their employees into a pension and hopefully in around 30 years time we should see the benefits with the workforce having larger personal pension plans and not having to rely on the state so much


But that is the problem, the volume of people opting OUT of workplace pensions is really high still! My company is offering pension education, to get the younger members of staff started earlier, explaining why and showing pension calculations.

But I hope as more companies do this, the more it will work and yes, in a few years time everyone's workplace pensions will help. I still advocate a proper private pension on top of the workplace pension. I'm paying both. But still, the best pension 'fund' is probably still a 2nd property ... !

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"The lowest state pension in the developed world" on 20:37 - Dec 14 with 685 viewssaint68

From the age of 14 I never thought the pathetic payment you all regard as a pension would ever be available or worth fuk all...how any of you thought it would be different is baffling..

I pity those that paid in monthly in a vain hope that it would be of any worth going forward.

The UK government takes no care for its tax paying citizens .it would rather forward your hard earned payments to anyone other than you!!!,

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