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Old 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.
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Old 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?
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Old 27th June 2019, 17:10   #53
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Originally Posted by mileshawk56 View Post
Nothing new there Ravinder- there are a couple of regimes in the last 100 years had similar values, Chris.S

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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Old 27th June 2019, 17:54   #54
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Civil servants pension contributions vary according to salary. Its not a flat 6 per cent
I know that - overall the members contribution equates to circa 6%. If you take an average across the board it is about 4.6%.

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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Old 27th June 2019, 17:56   #55
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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?
He doesn’t - it’s a sound bite to get attention.
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Old 27th June 2019, 21:06   #56
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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?

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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Old 27th June 2019, 21:18   #57
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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?
I'm paraphrasing, the general idea that anyone keeps any, even vague, count of what they've 'put in ' or 'taken out' isn't really possible.

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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Old 27th June 2019, 21:37   #58
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I'm paraphrasing, the general idea that anyone keeps any, even vague, count of what they've 'put in ' or 'taken out' isn't really possible.

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.

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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Old 27th June 2019, 21:39   #59
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He doesn’t - it’s a sound bite to get attention.

By/from whom one feels like asking.
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Old 28th June 2019, 06:40   #60
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By/from whom one feels like asking.
Good morning Maninder, as a retiree and apart from Euthanasia, whats your government going to do for the pensioners, how will they win their vote for the next election?
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