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27th June 2019, 14:27 | #51 |
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Personal pensions are just a means of saving a person's earnings, be it with tax advantages. It should be obvious that my comments were related to the general state pension which in my view should be means tested and would therefore take account of a personal pension as an income and/or accumulated wealth.
As for civil servants, and state employees in general, it was my understanding that the pension benefits were in fact offset by generally lower salaries relative to the private sector. With any proposal, it is important to look at the whole proposal rather than picking individual bits. The fact is that the country as a whole is debt ridden and is exhausting resources at a faster rate than it generates. There is a need for a fundamental rethink of our approach to life, wealth etc. |
27th June 2019, 16:51 | #52 |
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Anyone saying that they've put in more than they've taken out has got to be a pretty bold statement.
How an earth do you work it out? |
27th June 2019, 17:10 | #53 | |
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Christopher - young Ravinder would be most disappointed that I am being confused with him if he was to read this thread. Ravinder is a smart, wee Scottish laddie, whereas I am a on old Grumpy man from Suffolk. |
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27th June 2019, 17:54 | #54 | |
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Regardless of the tiny employees contribution - the employer (ie US -the taxpayer contributes a further circa 19%. The scheme is a non-funded defined benefit scheme with an open ended liability. A liability that we the tax payer has to pick up. Being non-funded - it was civil servants that devised Gordon Browns very first stealth tax whereby dividend income within pension schemes are taxed. Obviously only funded schemes are hit. Strange how those in charge of all Pension Scheme Legislation devised a tax that did NOT hit THEIR scheme - but DID hit all those schemes where the individual or company/employer actually has to SAVE MONEY for their retirement and not rely on just snatching what they need from the public purse. |
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27th June 2019, 17:56 | #55 |
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27th June 2019, 21:06 | #56 | |
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I suspect this is what most people believe, because it is what they want to believe. Is there a post with such a statement from someone? |
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27th June 2019, 21:18 | #57 | |
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None of us could know, it would be incredibly difficult to work out. We pay taxes We get what (hopefully) what we need when we need it. The two aren't a debit account we need to equal out somehow. |
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27th June 2019, 21:37 | #58 | |
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Agreed. The amount of "putting in" can only really be determined at the time of such events. Similarly, how much a person feels they deserve to "take out" should be determined on the basis of the state of affairs at this different time. There cannot really be a correlation between the two on an individual basis. |
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27th June 2019, 21:39 | #59 |
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28th June 2019, 06:40 | #60 |
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