| Work 'til you're 75 19:11 - Aug 22 with 9494 views | colinallcars |
Suggested by a right wing think-tank the other day. I thought someone on here might have commented, so I've put it up. Depends on the sort of job. If heavy labouring it'd be work 'til you drop. Then there's the effect it would have on employment prospects for younger workers. Me, I wouldn't mind a few extra years, dunno about 75 though !
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| Work 'til you're 75 on 06:51 - Aug 24 with 1162 views | jonno |
| Work 'til you're 75 on 02:25 - Aug 24 by Benny_the_Ball |
Hear hear. Working people have invested in their future by making N.I. contributions; their pensions are not funded by the current generation. And even if this were true (and it's not), the current generation could look forward to their retirement being funded by future generations.
The weakness in the system is state pensions for those who haven't worked (i.e. Pension Credit). As they have not contributed, their retirement income is funded by the working. In fact, 47% of UK benefit spending goes on state pensions of £74.22bn a year, more than the £48.2bn the UK spends on servicing its debt. That is "free money" but, as usual, politicians are afraid to tackle our growing dependency culture. Far easier instead to blame life expectancy and raise the retirement age. |
Well exactly. The government calls the state pension a "benefit". It's only a "benefit" for those that get it without contributing to it. For everybody else it is a return on the many years of contributions they have made throughout their working lives. It's difficult to understand why people who have not contributed should be entitled to anything? It's not even that good a return on what you have paid in. I recently looked at my own NI payment record; I paid in whilst employed for 42 years. Looking at just the last couple of years it shows my payments were over £4k per month (I assume this includes what my employer contributed as well as my own contributions). My state pension will be around £700 per month so not a great return on the money paid in over 42 years. I assume all the extra money paid in goes to cover people who haven't contributed anything or very little. |  | | |
| Work 'til you're 75 on 08:17 - Aug 24 with 1083 views | BazzaInTheLoft |
| Work 'til you're 75 on 02:05 - Aug 24 by Boston |
Hundreds of thousands of British Citizens have left the UK, Baz and many thousands more do every year, most of us having paid taxes and NI contributions and who will never claim a penny of it(myself included). Your comment implies a desire to garnish money from people just because they have it and opt to deposit in an account which you appear uncomfortable with as its outside the UK. I leave cash in accounts in a number of countries around the world, not to evade tax, primarily for convenience and to more easily conduct business in those countries when an opportunity arises. |
Excuse me for being nosy, but how much business do you conduct on the British Virgin Islands or Sark?
I presume I’m not talking to a Billionaire tax evader. I’m not talking about operating capital. [Post edited 24 Aug 2019 8:34]
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| Work 'til you're 75 on 09:46 - Aug 24 with 1038 views | CroydonCaptJack |
| Work 'til you're 75 on 06:51 - Aug 24 by jonno |
Well exactly. The government calls the state pension a "benefit". It's only a "benefit" for those that get it without contributing to it. For everybody else it is a return on the many years of contributions they have made throughout their working lives. It's difficult to understand why people who have not contributed should be entitled to anything? It's not even that good a return on what you have paid in. I recently looked at my own NI payment record; I paid in whilst employed for 42 years. Looking at just the last couple of years it shows my payments were over £4k per month (I assume this includes what my employer contributed as well as my own contributions). My state pension will be around £700 per month so not a great return on the money paid in over 42 years. I assume all the extra money paid in goes to cover people who haven't contributed anything or very little. |
£4k per month?
You might want to double check that figure. |  | | |
| Work 'til you're 75 on 11:21 - Aug 24 with 986 views | PinnerPaul |
| Work 'til you're 75 on 15:05 - Aug 23 by Lblock |
I’m hoping to semi retire as soon as possible
Reckon another year or two max
It’s what to fill the days with that’s the issue hence hoping to keep a bit of freelance work going
Where’s all the stuff my grandparents used to do gone? People throw this word community about but it’s bolloix; there’s no such thing and hasn’t been for decades
Maybe I’ll find it when I move out of West London to a nice pad by the sea |
Retired 2 years ago and never been bored - football watching or officiating admittedly takes up about 3 days a week during the season - but never short of things to do.
1st grandchild arrived 2 weeks ago with another one on the way in 10 days time - so don't expect to be bored anytime soon.
Not read the whole thread, so sorry if repeating, but don't forget all, that you can access private/work pensions from 55 and that the 1st 25% withdrawn is tax free. |  | | |
| Work 'til you're 75 on 17:26 - Aug 24 with 875 views | Snipper |
The government would have a lot more money to play with if they taxed these big corporations properly.
And Johnson promising tax cuts for the rich is bang out of order too. |  | | |
| Work 'til you're 75 on 18:26 - Aug 24 with 847 views | Boston |
| Work 'til you're 75 on 08:17 - Aug 24 by BazzaInTheLoft |
Excuse me for being nosy, but how much business do you conduct on the British Virgin Islands or Sark?
I presume I’m not talking to a Billionaire tax evader. I’m not talking about operating capital. [Post edited 24 Aug 2019 8:34]
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My accountants don’t work weekends, so you’ll have to wait ‘till Monday for an answer on the billionaire bit. | |
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| Work 'til you're 75 on 18:35 - Aug 24 with 832 views | qprxtc |
I may have to physically go to work until I’m 75 but my mind retired from work in 1989. |  | | |
| Work 'til you're 75 on 18:44 - Aug 24 with 818 views | Watford_Ranger |
| Work 'til you're 75 on 17:26 - Aug 24 by Snipper |
The government would have a lot more money to play with if they taxed these big corporations properly.
And Johnson promising tax cuts for the rich is bang out of order too. |
If people are going to keep voting for the Face-Eating Leopard Party, don’t be surprised when people have their faces eaten by leopards. | | | |
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