| The state pension will rise by 4.7% next year. 16:47 - Sep 16 with 6727 views | noggin |
Brace yourselves for the “We can’t afford it” overreaction. |  |
| |  |
| The state pension will rise by 4.7% next year. on 23:17 - Sep 17 with 316 views | Swansea_Blue |
| The state pension will rise by 4.7% next year. on 10:42 - Sep 17 by SuperKieranMcKenna |
The size of the economy is irrelevant - it doesn’t make us wealthy, our per capita wealth has flatlined or fallen for over a decade. We are behind our European peers in many metrics. India has a huge economy- it certainly isn’t wealthy. The £7bn you reference is peanuts compared to the £140bn (and rising) annual cost of the state pension. The Europeans are also reviewing their pension ages and costs because it’s isn’t affordable (civil servant pensions alone have billions in unfunded liabilities).
Again - no one here has suggested current pensioners should be penalised, but the OBR and virtually every forecasting institution agrees the current Ponzi scheme is unsustainable. |
I find it strange that we’ve paid the banks and energy providers hundreds of billions of pounds in the last couple of years but when anyone suggests we pay a little bit extra on ourselves it’s suddenly not possible. It doesn’t feel like the balance is right. |  |
| |
| The state pension will rise by 4.7% next year. on 06:03 - Sep 18 with 108 views | SuperKieranMcKenna |
| The state pension will rise by 4.7% next year. on 23:17 - Sep 17 by Swansea_Blue |
I find it strange that we’ve paid the banks and energy providers hundreds of billions of pounds in the last couple of years but when anyone suggests we pay a little bit extra on ourselves it’s suddenly not possible. It doesn’t feel like the balance is right. |
Only because for the last 15 years or so successive governments have been completely incompetent. We’ve borrowed record amounts and spaffed it away on dodgy contracts, useless PPE, fraudulent furlough claims which were never pursued, hospitals that were never used, and borrowed to pay for the borrowing we borrowed. We are paying more on borrowing than our education system, years to see a surgeon* and an army that could fit in Wembley. Germany has a hugely lower debt to gdp ratio thanks to coherent economic policy over decades and still went through COVID, andddd was harder hit by the energy crisis (due to reliance on Russian gas).
I just don’t see how the current pension system is sustainable with the aging population, and that’s wider recognised by the pensions industry, OBR, IMF etc. I would rather we shift pensions to private funds and the state concentrate on improving public services. Paying current pensioners through current tax payers is insane, it’s going to require ever more tax payers and flies in the face of sustainablity. I think this is what is happening gradually, but I’d add we need better healthcare so that more people can work, and work for longer (if they choose).
*on a lighter note perhaps the plan is to kill everyone off before they reach retirement… [Post edited 18 Sep 6:24]
|  | | |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
