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State Pension Increase
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"Thank goodness for the triple lock as it secured my £17.30 increase in my pension payment this month (£4.32.5p a week) after working for 32 years. Less income tax of course. As I invested and saved I have a separate pension and wonder why I bothered when benefit payments exceed my personal income and are none taxable. " So I just did a calculator online If you’re on standard state pension, you will no longer get pension credit That leaves Housing & council tax benefit to pay rent Possibly attendance allowance to pay a carer if you’re sick/disabled Where are these other benefits you mention? | |||
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I don't begrudge anyone benefits who is entitled to them but my goodness a lot of people dont half begrudge state pensions. | |||
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"Well it's a shit increase, but with the last lot of Tories pushing down NI contributions the pot is not looking good for pensions. The workplace pensions they pushed in aiming to abolish state pensions I reckon. At least you get to retire, my age has been upped twice. Having to stick lots in my private pension. Luckily my employer puts in a hefty contribution. " Actually the maximum state pension went up from £231 a week to £241 a week…. 4.5% ish The triple lock is basically a misnomer as the increase is the average increase in wages.. If it had been changed to the double lock ( inflation or wages) which is what most people argue because the 2.5% third option in the triple lock is an arbitrary figure not related to anything , people would have ended up with the same increase | |||
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"What's a state pension? I don't think my generation is getting one. Probably won't be much of a country left by the time I reach that age." Start early and Invest what you can. You are right state retirement age will be pushed out to age 70 and beyond. Minimum contribution into auto enrolment managed fund will be paying out next to fa. | |||
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"What's a state pension? I don't think my generation is getting one. Probably won't be much of a country left by the time I reach that age. Start early and Invest what you can. You are right state retirement age will be pushed out to age 70 and beyond. Minimum contribution into auto enrolment managed fund will be paying out next to fa. " Agreed. To anyone under 30 reading this, here is the value* at age 60 for £1000 invested at ages: 25-£4000 35-£2700 45-£1800 55-£1200 (*Real terms after inflation, assuming modest growth 5-7%, inflation 2-2.5%) | |||
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"Pensioners need every penny, even in principle. The world's problem have a direct impact, not only in this country. It's fragile, a war or national disaster can affect everyone in thus country, and Pensioners are vulnerable add on disability they need help now and in their future. The money they get gets spent mostly in this country so it's aiding the economy, money makes the world go around. " 25% of pensioner are millionaires The vulnerable pensioners need looking after The rest needs a wake up call to the world they've created | |||
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" 25% of pensioner are millionaires " Incorrect and misquoted. That is NOT what the ONS said. You are conflating shared household/family assets with individual net worth. | |||
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"1 in 4 pensioners are millionaires " Source? | |||
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"The over 65s have experienced growth, Low housing prices and renting High wages No debt leaving higher education They've had and they've st0len every drop from the state. But they expect every generation after to work harder. Beg more money! Make life harder " Erm... I haven't illegally taken anything and I'm not asking you to beg for anything | |||
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"The over 65s have experienced growth, Low housing prices and renting High wages No debt leaving higher education They've had and they've st0len every drop from the state. But they expect every generation after to work harder. Beg more money! Make life harder Erm... I haven't illegally taken anything and I'm not asking you to beg for anything" Seeing as those words don't connect to the words I typed......  | |||
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"The over 65s have experienced growth, Low housing prices and renting High wages No debt leaving higher education They've had and they've st0len every drop from the state. But they expect every generation after to work harder. Beg more money! Make life harder Erm... I haven't illegally taken anything and I'm not asking you to beg for anything Seeing as those words don't connect to the words I typed...... "I'm over 65 and you appear to be saying I and my contemporaries have taken everything from the stage and expect your and other generations to work harder and beg for everything. I'm not. Nor are most of my generation | |||
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"I will die on this hill!! Our fetish for the elders comes from WWII Most of which are dead These lazy cunts live in the shadow of the them and they've been persuaded to make the youngs lives worse while feathering their nests " You sound terribly bitter about old people. What's caused that? | |||
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"The over 65s have experienced growth, Low housing prices and renting High wages No debt leaving higher education They've had and they've st0len every drop from the state. But they expect every generation after to work harder. Beg more money! Make life harder Erm... I haven't illegally taken anything and I'm not asking you to beg for anything Seeing as those words don't connect to the words I typed......
I'm over 65 and you appear to be saying I and my contemporaries have taken everything from the stage and expect your and other generations to work harder and beg for everything.
I'm not. Nor are most of my generation"Yes. I'm afraid so, Boomers were the last to experience life with growth. Free higher education Cheap housing Etc etc etc And they can't seem to see how the way they have voted has created this country for the young | |||
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"I will die on this hill!! Our fetish for the elders comes from WWII Most of which are dead These lazy cunts live in the shadow of the them and they've been persuaded to make the youngs lives worse while feathering their nests You sound terribly bitter about old people. What's caused that?" It's not bitter towards all the elderly, I have grandparents. But as a cohort they have dismantled what the greatest generation set up for them. And crested a current environment where the young find life unlivable in Britain | |||
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"I will die on this hill!! Our fetish for the elders comes from WWII Most of which are dead These lazy cunts live in the shadow of the them and they've been persuaded to make the youngs lives worse while feathering their nests You sound terribly bitter about old people. What's caused that? It's not bitter towards all the elderly, I have grandparents. But as a cohort they have dismantled what the greatest generation set up for them. And crested a current environment where the young find life unlivable in Britain " Ok. I wish you well in life | |||
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"1 in 4 pensioners are millionaires Source? Telegraph " Okay. What you're referring to is a headline that makes a similar claim, BUT... 27% of people over 65 have a combined/household net worth over 1m. This includes house price and pension value. A primary school teacher and nurse who bought a house in London or the southeast in 1975 for a modest sum and have a work pension paying a modest living amount would fit this bill. They might well have no more than £1500 in liquid assets in the bank, and no prospect of every earning again. They probably can't afford a "millionaire lifestyle". The large-sounding amount is often down to pension value. But remember, a 250,000 pension will produce about 14,000 as an annuity or 10,000 as a drawdown. If each member of a couple has accumulated that 250K pot and together they own a 2 bedroom apartment in London worth 500k, then they would be in a millionaire household, but living modestly on ~12k each plus state pension, minus tax. That's not "rich". It's decent, yes. But they will be paying insurances, house repairs, utilities, council tax, etc. and the council doesn't have to house them at taxpayer expense. | |||
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"Long way to say yes 1 in 4 pensioners are millionaires " No. It isn't. Let's say you have 500k. You meet someone with 500k. You hook up. Now we've gone from having no millionaires to having two millionaires? | |||
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"Long way to say yes 1 in 4 pensioners are millionaires " In fact, extending this logic... A London family (two 25 year old adults with two kids) on disability are millionaires. The government acts as their pension pots. Between them, they will receive housing and assistance worth 60k per year, for 20 years. Then they will downsize and get benefits worth 40k per year for the next 45 years. That equivalent pension pot pays out three million over their lives. | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires?" Okay. At this point you're just trolling. Well done - you got us. | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires?" I paid for your generations education up to FE level. I bet loads of them are millionaires | |||
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" 25% are millionaires " 55- 60% of housing wealth is reported to be held by those aged over 60. (They hold about £3.5-£3.8trn) Older people have benefitted from four decades of house price growth and have the highest rate of home ownership. That is likely why they have more millionaires. The ons calculates the net worth of UK at £13trn, of which housing is £9trn ( less mortgages of £1.6trn). Making housing the largest asset class, and more than the combined values of uk stock market capitalisation, savings and pension funds. | |||
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" 25% are millionaires 55- 60% of housing wealth is reported to be held by those aged over 60. (They hold about £3.5-£3.8trn) Older people have benefitted from four decades of house price growth and have the highest rate of home ownership. That is likely why they have more millionaires. The ons calculates the net worth of UK at £13trn, of which housing is £9trn ( less mortgages of £1.6trn). Making housing the largest asset class, and more than the combined values of uk stock market capitalisation, savings and pension funds. " As others have pointed out the statement about pensioners that “25% are millionaires” is incorrect. It seems to be based on one report that wasn’t particularly scientific and was talking about overall household wealth, not individual wealth. I’m not sure it’s surprising that older people have acquired more wealth, or why it’s an issue. Assuming people start off working life with no assistance from family or inherited wealth then they buy a property with a mortgage and work for 20-30 years and eventually they own all the equity. At the same time they might be making small investments into pensions or savings which equally accumulate over time. You have to live a long time for that system to work. You’d expect people to get “richer” as they get older. There doesn’t seem to me to be anything untoward going on or anything particularly unjust in the system. For the overwhelming majority of people that system works very well, even if it’s a lot of trouble and they’d prefer if someone gave it all to them. By the time people get to retirement they own a house so are not worried about being thrown onto the street and have some moderate income to live on. And also some assets to pay for health and social care if necessary, which is increasingly important as the state health system gets worse. The alternative is that people don’t bother with any of that and end up dependent entirely on the state for retirement housing and income. I can see that for younger people today the income multiples required to purchase a house are getting higher. But ultimately house prices are just a matter of supply and demand. If you want house prices to go down then you either restrict the number of people or increase the number of houses. There’s been an added complication that in an era of low interest rates people have seen property as a good investment. My reading is that the landlord market is probably going to get more restricted due to government regulation which will push rents up. I guess we will see if that has a downward impact on property prices for buyers. | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires" And state pensions are paid by the current generation of workers. | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. " Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. " No, illegally is incorrect. I think it’s fair to say that boomers benefitted from many perks that current and future generations will not. That’s not the boomers fault, but it does breed a level of resentment amongst some. | |||
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"The over 65s have experienced growth, Low housing prices and renting High wages No debt leaving higher education They've had and they've st0len every drop from the state. But they expect every generation after to work harder. Beg more money! Make life harder " Suck it up buttercup 😘 | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. No, illegally is incorrect. I think it’s fair to say that boomers benefitted from many perks that current and future generations will not. That’s not the boomers fault, but it does breed a level of resentment amongst some." On the contrary, many are going to inherit nearly £4trillion of housing wealth from older generation | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires?" What have they st0len ? They’ve bought houses, paid off mortgages and will pass trillions onto their children in housing equity. | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. No, illegally is incorrect. I think it’s fair to say that boomers benefitted from many perks that current and future generations will not. That’s not the boomers fault, but it does breed a level of resentment amongst some. On the contrary, many are going to inherit nearly £4trillion of housing wealth from older generation " University costs. Dental costs. Right to buy (at affordable prices), more generous pension schemes, Studies suggest that on average boomers got/get 25% more out of the system than they paid in. It’s not right that boomers are attacked because they happened to be born in that generation, but let’s not pretend that current and future generations have an easier time of things financially, when it’s patently obvious (and backed up with facts) that they don’t. | |||
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" I'm afraid so, Boomers were the last to experience life with growth. Free higher education Cheap housing Etc etc etc And they can't seem to see how the way they have voted has created this country for the young " Free higher education if that's the route you could take. I didn't know anyone who went on to higher Education, we all left school and got a job. We didn't have high wages. We did live within our means. Housing was normally social housing for a lot of people but not available to all, if you had to buy it wasn't that cheap . We lived within our means to save the deposit and pay the mortgage to keep the roof over our head. We didn't get anything from the state apart from when we had kids, then you got Family allowance. I don't expect any next generation to work harder than we did. I think it is harder for younger generations now to get on the ladder than for us. I think some generations ( and I include my own grown up childrens generation in this ) expect to be able to have it all. Sadly you can't , sometimes you have to do without to get what you want. I don't get the blaming of other generations | |||
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" . We lived within our means to save the deposit and pay the mortgage to keep the roof over our head. " The difference in salary vs housing cost is utterly incomparable between today and 40, probably even 30 years ago. | |||
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" One of the reasons manufacturing in this country is less intake of younger workers because they don't like factory work. Being a rap star or media influencer is their main ambition. " And probably because the economy is 75% services, thanks to the ruination of manufacturing over the past 45 years. | |||
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" . We lived within our means to save the deposit and pay the mortgage to keep the roof over our head. The difference in salary vs housing cost is utterly incomparable between today and 40, probably even 30 years ago. I did mention housing costs for next generations being harder in the post you cropped this quote from" It’s not just harder though - for many it is literally impossible without a significant windfall | |||
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" . We lived within our means to save the deposit and pay the mortgage to keep the roof over our head. The difference in salary vs housing cost is utterly incomparable between today and 40, probably even 30 years ago. " I did mention housing costs for next generations being harder in the post you cropped this quote from | |||
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"1 in 4 pensioners are millionaires " Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings" Every generation has a chunk of spongers. That’s not a new thing. | |||
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" . We lived within our means to save the deposit and pay the mortgage to keep the roof over our head. The difference in salary vs housing cost is utterly incomparable between today and 40, probably even 30 years ago. I did mention housing costs for next generations being harder in the post you cropped this quote from It’s not just harder though - for many it is literally impossible without a significant windfall " I am glad you said "many" The way the conversation seems to go about "boomers" is "all" They all vote the same way, they all have second pensions, they have multi million pound houses etc etc. People have to remember lots of us "boomers" came from council houses and had no luxuries. Went to work at 16, got married, saved up to get what we wanted and did without while doing it. Not all boomers are minted with million pound houses and second pensions living comfortably. Where I came from social housing or rented and a basic pension is the norm for many pensioners. Us oldies are not stupid, we normally have grown up children who are living in this. I have two grown up children who went to Uni, got good jobs, saved for a mortgage. I know how hard it is for that generation, getting a mortgage now is around 5 /6 /7 times your wages were as ours was three. However , they still think they should have it all and why shouldn't they have it. Sadly life isn't like that. I blame some of our generation for trying to give their children what they didn't have ( I include us in that ) which made for a lot of people in that generation think they should have it all without doing without something else. | |||
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"Went to work at 16, got married, saved up to get what we wanted and did without while doing it. ... I have two grown up children who went to Uni, got good jobs, saved for a mortgage. I know how hard it is for that generation, getting a mortgage now is around 5 /6 /7 times your wages were as ours was three. ... I blame some of our generation for trying to give their children what they didn't have ( I include us in that ) which made for a lot of people in that generation think they should have it all without doing without something else." Consider one of the most successful communities in the UK - the Indian community. Income and net worth dwarf many other communities. The culture is to live in multi generational houses, look after parents and children, study hard, work hard and become a professional or start a business. And people get angry about Mr Patel the evil landlord with five properties. He worked hard and gave up partying, independent living and he's investing his money into tutoring for his kids instead of the latest gadgets for them. Taking responsibility for family and community is what makes whole communities financially independent, even in this challenging environment. Educating your kids, working hard, making sacrifices and supporting each other builds wealth - even for people who came to the UK with relatively little one or two generations ago. | |||
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" . We lived within our means to save the deposit and pay the mortgage to keep the roof over our head. The difference in salary vs housing cost is utterly incomparable between today and 40, probably even 30 years ago. " House price to income ratio 1980. 3X 1990. 5.6X 2025. 9X Rents a lot higher as % income | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? What have they st0len ? They’ve bought houses, paid off mortgages and will pass trillions onto their children in housing equity. " Thus creating ‘Inheritocracy’ | |||
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"Labour still blaming Tories for everything..they couldn't run a tap . " A reminder that in 2024, the Tories were still blaming Labour from 2010. | |||
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"55% of the UK’s social security bill is spent on Pensioners. Should one group of people receive over half the total Social Security budget?" What an amazingly disingenuous way to phrase that. The deal for all of us is that we work, we pay into the system, then we stop working and the system pays us. WE ARE ALL THAT GROUP! We all pay in, except for those who don't, who would be in that other 45%. Now... Is this a good system? No! Everyone should (be forced to, or their their employers forced to) save for their own retirement and state pensions should be wholly means tested. But we're in a Ponzi scheme that is like an unstoppable carnival ride. And we cannot tell people who paid into the system that they won't be paid at the other end. Better to ask why literally any other group gets benefits. | |||
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"55% of the UK’s social security bill is spent on Pensioners." Incidentally, (funding) this is one of the biggest failures of modern socialist-leaning policy. France and Russia have both had strikes and riots following government attempts to curb this runaway cost. Self (and family) reliance needs to be ingrained, rather than reliance on a massive state apparatus to keep old people fed, clothed and housed. It also incentivises good choices throughout life. | |||
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"55% of the UK’s social security bill is spent on Pensioners. Should one group of people receive over half the total Social Security budget?" The average UK household pays approximately £570,000–£590,000 in income tax and over £170,000 in employee national insurance (NI) over a 60-year lifetime | |||
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"Labour still blaming Tories for everything..they couldn't run a tap . " Three years left Reform have just taken Newquay council with 25% of the vote. Brixham taken by Reform. Gorton taken by greens. Roll on 7 May. | |||
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"...over £170,000 in employee national insurance (NI) over a 60-year lifetime" Perhaps you mean over 60 working years (which sounds like too much)? Compounded, less inflation is probably ~500k in real terms? Should buy a nice annuity. | |||
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"...over £170,000 in employee national insurance (NI) over a 60-year lifetime Perhaps you mean over 60 working years (which sounds like too much)? Compounded, less inflation is probably ~500k in real terms? Should buy a nice annuity." AI, can’t begrudge 12.5k pension for 15/20 years when you’ve paid 250-600k into the system | |||
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"55% of the UK’s social security bill is spent on Pensioners. Should one group of people receive over half the total Social Security budget? What an amazingly disingenuous way to phrase that. The deal for all of us is that we work, we pay into the system, then we stop working and the system pays us. WE ARE ALL THAT GROUP! We all pay in, except for those who don't, who would be in that other 45%. Now... Is this a good system? No! Everyone should (be forced to, or their their employers forced to) save for their own retirement and state pensions should be wholly means tested. But we're in a Ponzi scheme that is like an unstoppable carnival ride. And we cannot tell people who paid into the system that they won't be paid at the other end. Better to ask why literally any other group gets benefits." I was stating a simple fact and asking a simple question. As some previous posters have stated, a lot of current pensioners have had the best of free healthcare, free education, low cost housing (inc council houses thru RTB). Lots of industries used to have decent Final Salary pensions (via secure work) as well as a guaranteed state pension. Some of them need to be a bit more thankful that they lived when they did. | |||
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" As some previous posters have stated, a lot of current pensioners have had the best of free healthcare, free education, low cost housing (inc council houses thru RTB). Lots of industries used to have decent Final Salary pensions (via secure work) as well as a guaranteed state pension. " Those were untenable and would bankrupt the system. Widespread stakeholder is the only scalable long term solution that won't need government bailouts. " Some of them need to be a bit more thankful that they lived when they did." These over 65s could be considered "age migrants". They've crossed the border into old age on their filthy rich small yachts, and are reviled as either benefit scroungers or wealth thieves. Tichard Rice & Figel Narage of the Young National Front will decry these dirty immigrants as the cause of all that is wrong in politics and finance, operating a global cabal of string-pulling overlords. Basically, they're the whipping boys and scapegoats of a certain type of political outlook. | |||
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" As some previous posters have stated, a lot of current pensioners have had the best of free healthcare, free education, low cost housing (inc council houses thru RTB). Lots of industries used to have decent Final Salary pensions (via secure work) as well as a guaranteed state pension. Those were untenable and would bankrupt the system. Widespread stakeholder is the only scalable long term solution that won't need government bailouts. Some of them need to be a bit more thankful that they lived when they did. These over 65s could be considered "age migrants". They've crossed the border into old age on their filthy rich small yachts, and are reviled as either benefit scroungers or wealth thieves. Tichard Rice & Figel Narage of the Young National Front will decry these dirty immigrants as the cause of all that is wrong in politics and finance, operating a global cabal of string-pulling overlords. Basically, they're the whipping boys and scapegoats of a certain type of political outlook. " ‘Those were untenable and would bankrupt the system.’ Bit like the Triple Lock then? | |||
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"55% of the UK’s social security bill is spent on Pensioners. Should one group of people receive over half the total Social Security budget? What an amazingly disingenuous way to phrase that. The deal for all of us is that we work, we pay into the system, then we stop working and the system pays us. WE ARE ALL THAT GROUP! We all pay in, except for those who don't, who would be in that other 45%. Now... Is this a good system? No! Everyone should (be forced to, or their their employers forced to) save for their own retirement and state pensions should be wholly means tested. But we're in a Ponzi scheme that is like an unstoppable carnival ride. And we cannot tell people who paid into the system that they won't be paid at the other end. Better to ask why literally any other group gets benefits. I was stating a simple fact and asking a simple question. As some previous posters have stated, a lot of current pensioners have had the best of free healthcare, free education, low cost housing (inc council houses thru RTB). Lots of industries used to have decent Final Salary pensions (via secure work) as well as a guaranteed state pension. Some of them need to be a bit more thankful that they lived when they did." That may be true. All the country’s woes are the result of poor polices , planning and underfunding public services. Including selling off 2.1 million council houses and flats at one time discounts. How can we get back 2 million council houses, our manufacturing and final salary pension schemes. | |||
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" I was stating a simple fact and asking a simple question. " Three small-boat migrants were just convicted of r@ping a woman in Brighton. (Pick one of the following) Is it right that we let small boat migrants into our country? What is it about these people's culture that makes them do this? What is it about a certain religion that promotes this kind of behaviour? What... that was just a simple fact and a simple question(s). Just ask Candace Owens. | |||
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" ‘Those were untenable and would bankrupt the system.’ Bit like the Triple Lock then? " Correct. Triple lock will eventually fail. It was a stupid promise. It should have been anchored to a point in time, with the greatest of those indices in relative real terms. That would make it tenable forever. | |||
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"55% of the UK’s social security bill is spent on Pensioners. Should one group of people receive over half the total Social Security budget? What an amazingly disingenuous way to phrase that. The deal for all of us is that we work, we pay into the system, then we stop working and the system pays us. WE ARE ALL THAT GROUP! We all pay in, except for those who don't, who would be in that other 45%. Now... Is this a good system? No! Everyone should (be forced to, or their their employers forced to) save for their own retirement and state pensions should be wholly means tested. But we're in a Ponzi scheme that is like an unstoppable carnival ride. And we cannot tell people who paid into the system that they won't be paid at the other end. Better to ask why literally any other group gets benefits. I was stating a simple fact and asking a simple question. As some previous posters have stated, a lot of current pensioners have had the best of free healthcare, free education, low cost housing (inc council houses thru RTB). Lots of industries used to have decent Final Salary pensions (via secure work) as well as a guaranteed state pension. Some of them need to be a bit more thankful that they lived when they did. That may be true. All the country’s woes are the result of poor polices , planning and underfunding public services. Including selling off 2.1 million council houses and flats at one time discounts. How can we get back 2 million council houses, our manufacturing and final salary pension schemes. " You won’t get it back. The younger generation are worse off, but are expected to ‘just get on with it’, not knowing what they’ll be getting in their old age. Try telling a person who is approaching retirement (as I find it is these that are the most self entitled age group) that they may have to go without certain benefits and they soon complain. Until we either pay more tax/NI (via contributions), or more people pay tax/NI (Immigration, which is needed, as the birth rate is going down), or we get some decent economic growth (not happened since 2008), then we’re heading for a reckoning. | |||
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" You won’t get it back. " As older people die, wealth goes back to the nation, either directly to younger generations, or via taxes. " Until we either pay more tax/NI (via contributions), or more people pay tax/NI (Immigration, which is needed, as the birth rate is going down), or we get some decent economic growth (not happened since 2008), then we’re heading for a reckoning." Or... People pay a "tax" to themselves. In the form of a private pension. If the average smoker (11/day) instead invested that into a pension, from 18-65, they would probably have accumulated ~750k. A pack-a-day smoker would have ~1.4m. It is doable. PS doing the same with a Starbucks coffee every day would give £325,000 by age 65. | |||
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" Three small-boat migrants were just convicted of r@ping a woman in Brighton. (Pick one of the following) Is it right that we let small boat migrants into our country? " Yes it is right that we adhere to the refugee convention. | |||
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" You won’t get it back. As older people die, wealth goes back to the nation, either directly to younger generations, or via taxes. Until we either pay more tax/NI (via contributions), or more people pay tax/NI (Immigration, which is needed, as the birth rate is going down), or we get some decent economic growth (not happened since 2008), then we’re heading for a reckoning. Or... People pay a "tax" to themselves. In the form of a private pension. If the average smoker (11/day) instead invested that into a pension, from 18-65, they would probably have accumulated ~750k. A pack-a-day smoker would have ~1.4m. It is doable. PS doing the same with a Starbucks coffee every day would give £325,000 by age 65." That all sounds fine in an ideal world, but that’s not how the world works in reality. I’ve never come across, seen, heard or read about a smoker who suddenly thought ‘I know, I’ll stop smoking and put the money into my pension’ | |||
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" Three small-boat migrants were just convicted of r@ping a woman in Brighton. (Pick one of the following) Is it right that we let small boat migrants into our country? Yes it is right that we adhere to the refugee convention. " Certainly. It was merely illustrating how facts and "just asking questions" can be seen to promote prejudice, bigotry or strong views. | |||
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" ‘Those were untenable and would bankrupt the system.’ Bit like the Triple Lock then? Correct. Triple lock will eventually fail. It was a stupid promise. It should have been anchored to a point in time, with the greatest of those indices in relative real terms. That would make it tenable forever." What about alternatives 1,013 of the UK's 6,400 final salary (defined benefit) workplace pension schemes remain fully open to employees, with 200 closing within the last year. Data shows 72% of private-sector schemes are now closed to future accruals, with the total number of schemes falling by 31% from 7,300 in 2012 to 5,060 in 2025 Uk average (non pension) savings 4% of income, (Germany 13%, China 35%) More (pensionless) renters, less homeowners (equity release the largest growth sector in mortgage industry). Workplace pensions, minimum contribution, money purchase into a mediocre managed fund with little/no investment advice Household income swallowed by high rent and mortgage costs. Student loans and high energy costs Deferred state pension Average age of inheritance 61 | |||
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" That all sounds fine in an ideal world, but that’s not how the world works in reality. I’ve never come across, seen, heard or read about a smoker who suddenly thought ‘I know, I’ll stop smoking and put the money into my pension’ " ...it has nothing to do with smoking or coffee. It's illustrating how a healthy pension pot is an accessible and real option for many ordinary people. But you're right - the problem is in people's heads, not in their wallets. That's why contributions should be automatic and mandatory for all employees. At least 10%. | |||
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" People have to remember lots of us "boomers" came from council houses and had no luxuries. Went to work at 16, got married, saved up to get what we wanted and did without while doing it. Not all boomers are minted with million pound houses and second pensions living comfortably. Where I came from social housing or rented and a basic pension is the norm for many pensioners." Something interesting, comparing "boomers" with 30-somethings today: 1980 Household (in today's money) Real Disposable Income: £20,500 Mortgage Cost (11%): £2,255 Remaining Income after Mortgage: £18,245 2025 Household Real Disposable Income: £38,600 Mortgage Cost (45%): £17,370 Remaining Income after Mortgage: £21,230 Down payments are much bigger, but people have more disposable income to save. Houses cost a higher multiple than before, but banks lend more. Interest rates are 5%, not 15%. Mathematically, people are better off now, despite paying 45%, not 11% in mortgage payments. That's not to say it isn't a struggle. But it always was. People once had lower expectations for being able to both buy a house and have lots of spending money. | |||
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"The over 65s have experienced growth, Low housing prices and renting High wages No debt leaving higher education They've had and they've st0len every drop from the state. But they expect every generation after to work harder. Beg more money! Make life harder " I know you don't mean me personally but what you have said above demonstrates a severe lack of substantiated fact. It consists of useless opinion and internet shite - for want of a better word. The gvts use of media to control the narrative does an excellent job. As an over 65- I refuse to be divided from other generations and want for them the best they are able to achieve and the best that this country can offer them. I will support any cause they involve themselves in if I think it legal and worthwhile and certainly won't mean mouth them to make out that they are the cause of any problem I am facing. | |||
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" I’ve never come across, seen, heard or read about a smoker who suddenly thought ‘I know, I’ll stop smoking and put the money into my pension’ " Well you have now, I stopped smoking at 40 and paid it into a private pension, I also made a few other sacrifices and retired at 57 as did my slightly younger wife and we now travel the world and enjoy our retirement. Once we get the state pension well upgrade from 4* to 5* travel and maybe a round the world cruise 😎 | |||
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" People have to remember lots of us "boomers" came from council houses and had no luxuries. Went to work at 16, got married, saved up to get what we wanted and did without while doing it. Not all boomers are minted with million pound houses and second pensions living comfortably. Where I came from social housing or rented and a basic pension is the norm for many pensioners. Something interesting, comparing "boomers" with 30-somethings today: 1980 Household (in today's money) Real Disposable Income: £20,500 Mortgage Cost (11%): £2,255 Remaining Income after Mortgage: £18,245 2025 Household Real Disposable Income: £38,600 Mortgage Cost (45%): £17,370 Remaining Income after Mortgage: £21,230 Down payments are much bigger, but people have more disposable income to save. Houses cost a higher multiple than before, but banks lend more. Interest rates are 5%, not 15%. Mathematically, people are better off now, despite paying 45%, not 11% in mortgage payments. That's not to say it isn't a struggle. But it always was. People once had lower expectations for being able to both buy a house and have lots of spending money." A quick look at the BoE inflation calculator tells me that £20,500 in 1980 is worth £89,632.04 today | |||
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" A quick look at the BoE inflation calculator tells me that £20,500 in 1980 is worth £89,632.04 today" All figures given were already adjusted into today's, to compare apples with apples. | |||
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" People have to remember lots of us "boomers" came from council houses and had no luxuries. Went to work at 16, got married, saved up to get what we wanted and did without while doing it. Not all boomers are minted with million pound houses and second pensions living comfortably. Where I came from social housing or rented and a basic pension is the norm for many pensioners. Something interesting, comparing "boomers" with 30-somethings today: 1980 Household (in today's money) Real Disposable Income: £20,500 Mortgage Cost (11%): £2,255 Remaining Income after Mortgage: £18,245 2025 Household Real Disposable Income: £38,600 Mortgage Cost (45%): £17,370 Remaining Income after Mortgage: £21,230 Down payments are much bigger, but people have more disposable income to save. Houses cost a higher multiple than before, but banks lend more. Interest rates are 5%, not 15%. Mathematically, people are better off now, despite paying 45%, not 11% in mortgage payments. That's not to say it isn't a struggle. But it always was. People once had lower expectations for being able to both buy a house and have lots of spending money." And 52% of first time buyers deposits / house purchases enabled by bank of mum and dad Savills research says average mum and dad gifted deposit £55,572 | |||
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" A quick look at the BoE inflation calculator tells me that £20,500 in 1980 is worth £89,632.04 today All figures given were already adjusted into today's, to compare apples with apples." You mention disposable income, then deduct mortgage cost? Most people don’t pay for their mortgage (or rent) from their disposable income? | |||
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"55% of the UK’s social security bill is spent on Pensioners. Should one group of people receive over half the total Social Security budget? What an amazingly disingenuous way to phrase that. The deal for all of us is that we work, we pay into the system, then we stop working and the system pays us. WE ARE ALL THAT GROUP! We all pay in, except for those who don't, who would be in that other 45%. Now... Is this a good system? No! Everyone should (be forced to, or their their employers forced to) save for their own retirement and state pensions should be wholly means tested. But we're in a Ponzi scheme that is like an unstoppable carnival ride. And we cannot tell people who paid into the system that they won't be paid at the other end. Better to ask why literally any other group gets benefits. I was stating a simple fact and asking a simple question. As some previous posters have stated, a lot of current pensioners have had the best of free healthcare, free education, low cost housing (inc council houses thru RTB). Lots of industries used to have decent Final Salary pensions (via secure work) as well as a guaranteed state pension. Some of them need to be a bit more thankful that they lived when they did." why? I had absolutely no choice in my year of birth. | |||
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" A quick look at the BoE inflation calculator tells me that £20,500 in 1980 is worth £89,632.04 today All figures given were already adjusted into today's, to compare apples with apples. You mention disposable income, then deduct mortgage cost? Most people don’t pay for their mortgage (or rent) from their disposable income?" AHC (income after housing costs) is what you're thinking about. ONS uses the term disposable income to mean a household's total gross income (wages, state benefits, pensions, investments) minus direct taxes (Income Tax, National Insurance, Council Tax) and mandatory pension contributions. | |||
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" And 52% of first time buyers deposits / house purchases enabled by bank of mum and dad Savills research says average mum and dad gifted deposit £55,572 " Absolutely a major factor. Despite all the "maths" above, it is true that younger people have it somewhat harder, and boomers are, indeed, a fortunate generation. The posts above were just illustrating that it's not as simple as people make out. People are looking at today's boomers who have benefited from a vast improvement in living standards in the second half of the 20th century and unexpectedly long life expectancy, when it was assumed that they'd be dead by 70 (which, incidentally, allows wealth to compound further). But they do give back, as you've illustrated. And they will eventually return to the earth and their wealth will be passed on and around. Right now, they're living in their windfall years. And we will too, as we age. | |||
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" People have to remember lots of us "boomers" came from council houses and had no luxuries. Went to work at 16, got married, saved up to get what we wanted and did without while doing it. Not all boomers are minted with million pound houses and second pensions living comfortably. Where I came from social housing or rented and a basic pension is the norm for many pensioners. Something interesting, comparing "boomers" with 30-somethings today: 1980 Household (in today's money) Real Disposable Income: £20,500 Mortgage Cost (11%): £2,255 Remaining Income after Mortgage: £18,245 2025 Household Real Disposable Income: £38,600 Mortgage Cost (45%): £17,370 Remaining Income after Mortgage: £21,230 Down payments are much bigger, but people have more disposable income to save. Houses cost a higher multiple than before, but banks lend more. Interest rates are 5%, not 15%. Mathematically, people are better off now, despite paying 45%, not 11% in mortgage payments. That's not to say it isn't a struggle. But it always was. People once had lower expectations for being able to both buy a house and have lots of spending money. And 52% of first time buyers deposits / house purchases enabled by bank of mum and dad Savills research says average mum and dad gifted deposit £55,572 " And what about those people, whose Mum/Dad don’t have spare cash to pass on? | |||
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" And 52% of first time buyers deposits / house purchases enabled by bank of mum and dad Savills research says average mum and dad gifted deposit £55,572 Absolutely a major factor. Despite all the "maths" above, it is true that younger people have it somewhat harder, and boomers are, indeed, a fortunate generation. The posts above were just illustrating that it's not as simple as people make out. People are looking at today's boomers who have benefited from a vast improvement in living standards in the second half of the 20th century and unexpectedly long life expectancy, when it was assumed that they'd be dead by 70 (which, incidentally, allows wealth to compound further). But they do give back, as you've illustrated. And they will eventually return to the earth and their wealth will be passed on and around. Right now, they're living in their windfall years. And we will too, as we age." A lot of older folk will be using their wealth (if they have it) and/or assets to pay for care, should they need it. It won’t necessarily be passed down to their descendants. | |||
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" A quick look at the BoE inflation calculator tells me that £20,500 in 1980 is worth £89,632.04 today All figures given were already adjusted into today's, to compare apples with apples. You mention disposable income, then deduct mortgage cost? Most people don’t pay for their mortgage (or rent) from their disposable income?" 1 in 6 UK adults (roughly 8.9 million people) have no savings at all. 20% households living in poverty 15 million people have no private pension savings and are relying solely on the state pension. Studies suggest that about one-third (35%) of UK adults do not have a private or workplace pension. As above only 1/6th of final salary schemes allow new members 14.3 million people in relative poverty with no prospect of affording private pension savings 1.3 million households on the waiting list for social housing, with around 4.5 million in record high rents in private rented housing £267bn owed in student debt forecast to increase to £500bn by 2040. All of these examples and others show deteriorating prospects | |||
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" A lot of older folk will be using their wealth (if they have it) and/or assets to pay for care, should they need it. It won’t necessarily be passed down to their descendants." Even better... We won't be paying for that out of taxes. | |||
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" And 52% of first time buyers deposits / house purchases enabled by bank of mum and dad Savills research says average mum and dad gifted deposit £55,572 Absolutely a major factor. Despite all the "maths" above, it is true that younger people have it somewhat harder, and boomers are, indeed, a fortunate generation. The posts above were just illustrating that it's not as simple as people make out. People are looking at today's boomers who have benefited from a vast improvement in living standards in the second half of the 20th century and unexpectedly long life expectancy, when it was assumed that they'd be dead by 70 (which, incidentally, allows wealth to compound further). But they do give back, as you've illustrated. And they will eventually return to the earth and their wealth will be passed on and around. Right now, they're living in their windfall years. And we will too, as we age. A lot of older folk will be using their wealth (if they have it) and/or assets to pay for care, should they need it. It won’t necessarily be passed down to their descendants." 35% to 50% of care home residents in England are self-funders. So 50% - 65% don’t have the means to pay. Which kinda pisses on boomers are wealthy argument. | |||
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" A quick look at the BoE inflation calculator tells me that £20,500 in 1980 is worth £89,632.04 today All figures given were already adjusted into today's, to compare apples with apples. You mention disposable income, then deduct mortgage cost? Most people don’t pay for their mortgage (or rent) from their disposable income? 1 in 6 UK adults (roughly 8.9 million people) have no savings at all. 20% households living in poverty 15 million people have no private pension savings and are relying solely on the state pension. Studies suggest that about one-third (35%) of UK adults do not have a private or workplace pension. As above only 1/6th of final salary schemes allow new members 14.3 million people in relative poverty with no prospect of affording private pension savings 1.3 million households on the waiting list for social housing, with around 4.5 million in record high rents in private rented housing £267bn owed in student debt forecast to increase to £500bn by 2040. All of these examples and others show deteriorating prospects " Life is what you make of it | |||
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" I’ve never come across, seen, heard or read about a smoker who suddenly thought ‘I know, I’ll stop smoking and put the money into my pension’ " It is one way of helping yourself to get what you need , so maybe they should. We all have to sacrifice something to get what we want. | |||
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"Thank goodness for the triple lock as it secured my £17.30 increase in my pension payment this month (£4.32.5p a week) after working for 32 years. Less income tax of course. As I invested and saved I have a separate pension and wonder why I bothered when benefit payments exceed my personal income and are none taxable. So I just did a calculator online If you’re on standard state pension, you will no longer get pension credit That leaves Housing & council tax benefit to pay rent Possibly attendance allowance to pay a carer if you’re sick/disabled Where are these other benefits you mention? " I don’t receive any benefit payments. I’m referring to those who have never done a days work and live on benefits. | |||
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"Thank goodness for the triple lock as it secured my £17.30 increase in my pension payment this month (£4.32.5p a week) after working for 32 years. Less income tax of course. As I invested and saved I have a separate pension and wonder why I bothered when benefit payments exceed my personal income and are none taxable. " I did some calculations awhile back and unless you pay into a decent pension for few decades you're probably better off not paying into a pension at all, of course they don't tell you this. The amount of benefits and incentives that pension credit opens up is phenomenal and of course like you say all tax free | |||
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" I did some calculations awhile back and unless you pay into a decent pension for few decades you're probably better off not paying into a pension at all, of course they don't tell you this. " Could you share those calculations, with the break-even threshold? | |||
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"Thank goodness for the triple lock as it secured my £17.30 increase in my pension payment this month (£4.32.5p a week) after working for 32 years. Less income tax of course. As I invested and saved I have a separate pension and wonder why I bothered when benefit payments exceed my personal income and are none taxable. I did some calculations awhile back and unless you pay into a decent pension for few decades you're probably better off not paying into a pension at all, of course they don't tell you this. The amount of benefits and incentives that pension credit opens up is phenomenal and of course like you say all tax free" So are you saying it's better to be a scrounger than save for your own retirement? | |||
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"All employers have to pay a percentage based on an employees salary into a pension scheme, the employee can opt to pay in as well, this has been the law for several years. Most of these pensions are investment schemes there are no guarantees into the final payout you will need to keep a check on how they are performing. Probably a good idea to have some money invested in gun powder manufacture at the moment. Most of todays pensioners were paying into the system from age 15/16. Most of todays generations won't start paying in until well into their twenties." I will tell you what happens when you save for retirement. The government in the years you contribute say that you should save and invest for your retirement using pension schemes as it's the responsible thing to do. Then when you retire the Labour government will say " You have saved for a pension? .You are rich and need to pay more tax " | |||
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"What's a state pension? I don't think my generation is getting one. Probably won't be much of a country left by the time I reach that age. Start early and Invest what you can. You are right state retirement age will be pushed out to age 70 and beyond. Minimum contribution into auto enrolment managed fund will be paying out next to fa. Agreed. To anyone under 30 reading this, here is the value* at age 60 for £1000 invested at ages: 25-£4000 35-£2700 45-£1800 55-£1200 (*Real terms after inflation, assuming modest growth 5-7%, inflation 2-2.5%)" I keep sayin to the younger folk i work with. Go get a private pension as there wont be a state pension when they reach retirement age.! | |||
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"All employers have to pay a percentage based on an employees salary into a pension scheme, the employee can opt to pay in as well, this has been the law for several years. Most of these pensions are investment schemes there are no guarantees into the final payout you will need to keep a check on how they are performing. Probably a good idea to have some money invested in gun powder manufacture at the moment. Most of todays pensioners were paying into the system from age 15/16. Most of todays generations won't start paying in until well into their twenties. I will tell you what happens when you save for retirement. The government in the years you contribute say that you should save and invest for your retirement using pension schemes as it's the responsible thing to do. Then when you retire the Labour government will say " You have saved for a pension? .You are rich and need to pay more tax " " Correct. The gvt also say - oh - you have savings ? Then you don't need a state pension. I saved as I was terrified of poverty. Now those that didn't save are helped left right and centre by the gvt Free windows, free loft insulation, benefits on top of the state pension ... the list is quite long. Seems doing the right thing was the worst choice in the end. | |||
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"All employers have to pay a percentage based on an employees salary into a pension scheme, the employee can opt to pay in as well, this has been the law for several years. Most of these pensions are investment schemes there are no guarantees into the final payout you will need to keep a check on how they are performing. Probably a good idea to have some money invested in gun powder manufacture at the moment. Most of todays pensioners were paying into the system from age 15/16. Most of todays generations won't start paying in until well into their twenties. I will tell you what happens when you save for retirement. The government in the years you contribute say that you should save and invest for your retirement using pension schemes as it's the responsible thing to do. Then when you retire the Labour government will say " You have saved for a pension? .You are rich and need to pay more tax " Correct. The gvt also say - oh - you have savings ? Then you don't need a state pension. I saved as I was terrified of poverty. Now those that didn't save are helped left right and centre by the gvt Free windows, free loft insulation, benefits on top of the state pension ... the list is quite long. Seems doing the right thing was the worst choice in the end." Reeves has just given savers a 10% hit on savings tax. A 2p rise on the 20% basic rate | |||
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"What's a state pension? I don't think my generation is getting one. Probably won't be much of a country left by the time I reach that age. Start early and Invest what you can. You are right state retirement age will be pushed out to age 70 and beyond. Minimum contribution into auto enrolment managed fund will be paying out next to fa. Agreed. To anyone under 30 reading this, here is the value* at age 60 for £1000 invested at ages: 25-£4000 35-£2700 45-£1800 55-£1200 (*Real terms after inflation, assuming modest growth 5-7%, inflation 2-2.5%) I keep sayin to the younger folk i work with. Go get a private pension as there wont be a state pension when they reach retirement age.!" Good advice until Labour reduce the maturing tax free cash limit and tax the rest at a higher rate. | |||
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"...Go get a private pension as there wont be a state pension when they reach retirement age.! Good advice until Labour reduce the maturing tax free cash limit and tax the rest at a higher rate. " Transfer to a SIPP, move up UAE and take it all tax free. Also collect state pension. | |||
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"What's a state pension? I don't think my generation is getting one. Probably won't be much of a country left by the time I reach that age. Start early and Invest what you can. You are right state retirement age will be pushed out to age 70 and beyond. Minimum contribution into auto enrolment managed fund will be paying out next to fa. Agreed. To anyone under 30 reading this, here is the value* at age 60 for £1000 invested at ages: 25-£4000 35-£2700 45-£1800 55-£1200 (*Real terms after inflation, assuming modest growth 5-7%, inflation 2-2.5%) I keep sayin to the younger folk i work with. Go get a private pension as there wont be a state pension when they reach retirement age.! Good advice until Labour reduce the maturing tax free cash limit and tax the rest at a higher rate. " Plus we’ve got Labour’s loopy proposal in the Pension Schemes Bill for the government to have the power to dictate to pension funds what they invest your money in. Presumably so Labour can grab the assets to invest in whatever bonkers net zero scheme they want to fund this week. Remember, if you own anything you are just temporarily holding onto it for the Labour Party. | |||
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"All employers have to pay a percentage based on an employees salary into a pension scheme, the employee can opt to pay in as well, this has been the law for several years. Most of these pensions are investment schemes there are no guarantees into the final payout you will need to keep a check on how they are performing. Probably a good idea to have some money invested in gun powder manufacture at the moment. Most of todays pensioners were paying into the system from age 15/16. Most of todays generations won't start paying in until well into their twenties. I will tell you what happens when you save for retirement. The government in the years you contribute say that you should save and invest for your retirement using pension schemes as it's the responsible thing to do. Then when you retire the Labour government will say " You have saved for a pension? .You are rich and need to pay more tax " Correct. The gvt also say - oh - you have savings ? Then you don't need a state pension. I saved as I was terrified of poverty. Now those that didn't save are helped left right and centre by the gvt Free windows, free loft insulation, benefits on top of the state pension ... the list is quite long. Seems doing the right thing was the worst choice in the end." I don't think that's correct, you get a state pension even with savings as it isn't means tested(yet)and goes on your NI record. What you say about the rest seems very unfair though. | |||
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"^^ you're telling me. I feel that I and my counterparts are portrayed as either selfish, wealth blockers or impoverished and starving in cold homes. We were the first generation to pay into private pensions in order to avoid being a drain on the state but we're accused of having accumulated wealth unfairly. If we hadn't we would be accused of disadvantaging the upcoming generations by being a drain on the system. We can't win. " You paid your granny to sit on her fanny, not you to be able to milk the state | |||
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"Labour still blaming Tories for everything..they couldn't run a tap . " To be fair you can't turn this tanker around in 18 months. They've been a massive let down on immigration and Starmer, Yvette and Shabana should go for that alone. But they have done other good stuff | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. No, illegally is incorrect. I think it’s fair to say that boomers benefitted from many perks that current and future generations will not. That’s not the boomers fault, but it does breed a level of resentment amongst some. On the contrary, many are going to inherit nearly £4trillion of housing wealth from older generation " Not many, very few will inherit that. And that's the problem | |||
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"What's a state pension? I don't think my generation is getting one. Probably won't be much of a country left by the time I reach that age. Start early and Invest what you can. You are right state retirement age will be pushed out to age 70 and beyond. Minimum contribution into auto enrolment managed fund will be paying out next to fa. Agreed. To anyone under 30 reading this, here is the value* at age 60 for £1000 invested at ages: 25-£4000 35-£2700 45-£1800 55-£1200 (*Real terms after inflation, assuming modest growth 5-7%, inflation 2-2.5%) I keep sayin to the younger folk i work with. Go get a private pension as there wont be a state pension when they reach retirement age.! Good advice until Labour reduce the maturing tax free cash limit and tax the rest at a higher rate. Plus we’ve got Labour’s loopy proposal in the Pension Schemes Bill for the government to have the power to dictate to pension funds what they invest your money in. Presumably so Labour can grab the assets to invest in whatever bonkers net zero scheme they want to fund this week. Remember, if you own anything you are just temporarily holding onto it for the Labour Party." Investing in British stock is a good thing. We are actually good at creating companies unfortunately American money then buys them. If we could redirect pension funds to invest in British company and take risks it would crest growth | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings" Did you ever question the world your generation voted for? Look around you, why would they want to? | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for?" Not everyones votes for the same party, whatever their age | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age" We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. No, illegally is incorrect. I think it’s fair to say that boomers benefitted from many perks that current and future generations will not. That’s not the boomers fault, but it does breed a level of resentment amongst some. On the contrary, many are going to inherit nearly £4trillion of housing wealth from older generation Not many, very few will inherit that. And that's the problem " If there are 12.5 million retirees, and 60% are homeowners (71% in over 70’s) it follows eight million odd people will receive something. Or some may be given some money earlier. Ie house deposit. | |||
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"...Go get a private pension as there wont be a state pension when they reach retirement age.! Good advice until Labour reduce the maturing tax free cash limit and tax the rest at a higher rate. Transfer to a SIPP, move up UAE and take it all tax free. Also collect state pension." I may have missed something (my pension is in a sipp). ‘The maximum tax-free lump sum is capped at £268,275’ ? | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren " Ouch. But largely true. | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren " We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved | |||
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"They've st0len everything! And now we're expected to find their pensions whilst 25% are millionaires? I paid for your generations education up to FE level. I bet loads of them are millionaires And state pensions are paid by the current generation of workers. Yep. That's the point I was answering. When I was working I contributed to the pensions of retirees too but I didn't accuse them of having illegally taken everything. No, illegally is incorrect. I think it’s fair to say that boomers benefitted from many perks that current and future generations will not. That’s not the boomers fault, but it does breed a level of resentment amongst some. On the contrary, many are going to inherit nearly £4trillion of housing wealth from older generation Not many, very few will inherit that. And that's the problem If there are 12.5 million retirees, and 60% are homeowners (71% in over 70’s) it follows eight million odd people will receive something. Or some may be given some money earlier. Ie house deposit. " 8 million of how many? The people who have wealth will condense wealth in every fewer hands become the poor can't get in the wealth ladder | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved " No it doesn't. Being honest about the majority in that cohort might make them realise what they've created. Why have such a reaction? It's a generalisation based on polling? I think the lady doth protest too much | |||
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"Oh and we couldn't afford holidays unless we saved the vouchers from The Sun . 🤷♀️" Yeah my mum did this as a single mum. But by an large that's the generation that could afford to go abroad annually | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved No it doesn't. Being honest about the majority in that cohort might make them realise what they've created. Why have such a reaction? It's a generalisation based on polling? I think the lady doth protest too much " you may think what you wish.
How will realising what 'they' have created help? We're all too damn old to influence anything now the baton has been passed on.
I'm not telling you how I did vote but since one of us is European Brexit was never going to be something we supported and if you truly believe I voted Reform then it proves you know me not. | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. " We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved No it doesn't. Being honest about the majority in that cohort might make them realise what they've created. Why have such a reaction? It's a generalisation based on polling? I think the lady doth protest too much you may think what you wish.
How will realising what 'they' have created help? We're all too damn old to influence anything now the baton has been passed on.
I'm not telling you how I did vote but since one of us is European Brexit was never going to be something we supported and if you truly believe I voted Reform then it proves you know me not. "Your taking a generalisation about a cohort way too personal!!"your all to damn old" but alive and vote in considerable more numbers than the young. That's the problem, the numbers of boomers and living longer is skewing the needs of the younger and creating an open air oap home | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. " But people are blaming the older generations for everything by the look of it. All the time the younger generation are busy blaming us they're punching down on the wrong people and that is the very clever propaganda that has been subtly played out over the last few years. "Look over there at those old people taking all your stuff " says the multi millionaire who isn't paying tax, paying their worker minimum wage on zero hours contracts and allowing the government to top them up with benefits. | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. " Holla!! | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved No it doesn't. Being honest about the majority in that cohort might make them realise what they've created. Why have such a reaction? It's a generalisation based on polling? I think the lady doth protest too much you may think what you wish.
How will realising what 'they' have created help? We're all too damn old to influence anything now the baton has been passed on.
I'm not telling you how I did vote but since one of us is European Brexit was never going to be something we supported and if you truly believe I voted Reform then it proves you know me not.
Your taking a generalisation about a cohort way too personal!!"your all to damn old" but alive and vote in considerable more numbers than the young.
That's the problem, the numbers of boomers and living longer is skewing the needs of the younger and creating an open air oap home "I'm not taking it personally, I take nothing on the net personally. At what age should I be set afloat on an ice flow? | |||
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" On the contrary, many are going to inherit nearly £4trillion of housing wealth from older generation Not many, very few will inherit that. And that's the problem If there are 12.5 million retirees, and 60% are homeowners (71% in over 70’s) it follows eight million odd people will receive something. Or some may be given some money earlier. Ie house deposit. 8 million of how many? The people who have wealth will condense wealth in every fewer hands become the poor can't get in the wealth ladder " The working age demographic is about 43 million. The retired about 12.5 million I’m assuming that inheritance ( not of care costs) will be passed down. Agreeably impacted by death taxes and care costs. Eight million odd unrelated people of the next generation down will receive four decades of house price inflation their parents benefitted from. | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. But people are blaming the older generations for everything by the look of it. All the time the younger generation are busy blaming us they're punching down on the wrong people and that is the very clever propaganda that has been subtly played out over the last few years. "Look over there at those old people taking all your stuff " says the multi millionaire who isn't paying tax, paying their worker minimum wage on zero hours contracts and allowing the government to top them up with benefits. " 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved No it doesn't. Being honest about the majority in that cohort might make them realise what they've created. Why have such a reaction? It's a generalisation based on polling? I think the lady doth protest too much you may think what you wish.
How will realising what 'they' have created help? We're all too damn old to influence anything now the baton has been passed on.
I'm not telling you how I did vote but since one of us is European Brexit was never going to be something we supported and if you truly believe I voted Reform then it proves you know me not.
Your taking a generalisation about a cohort way too personal!!"your all to damn old" but alive and vote in considerable more numbers than the young.
That's the problem, the numbers of boomers and living longer is skewing the needs of the younger and creating an open air oap home
I'm not taking it personally, I take nothing on the net personally.
At what age should I be set afloat on an ice flow?" thought you weren't taking it personally? | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. But people are blaming the older generations for everything by the look of it. All the time the younger generation are busy blaming us they're punching down on the wrong people and that is the very clever propaganda that has been subtly played out over the last few years. "Look over there at those old people taking all your stuff " says the multi millionaire who isn't paying tax, paying their worker minimum wage on zero hours contracts and allowing the government to top them up with benefits. 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you " So you're angry at 20% of old people? | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren We had free milk at school it was because post war diets were often poor and it was seen as away to get extra calories etc into children. There are still milk subsidies in existence for nurseries and schools. I lament the loss of free higher education that enabled kids from poorer backgrounds to have a university education. Dentistry has been charged for since 1951 in some form or another. As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. I'm not saying how I vote it's a private matter but blaming a whole generation for the current ills of the world leads to tunnel vision and prevents the problems being solved No it doesn't. Being honest about the majority in that cohort might make them realise what they've created. Why have such a reaction? It's a generalisation based on polling? I think the lady doth protest too much you may think what you wish.
How will realising what 'they' have created help? We're all too damn old to influence anything now the baton has been passed on.
I'm not telling you how I did vote but since one of us is European Brexit was never going to be something we supported and if you truly believe I voted Reform then it proves you know me not.
Your taking a generalisation about a cohort way too personal!!"your all to damn old" but alive and vote in considerable more numbers than the young.
That's the problem, the numbers of boomers and living longer is skewing the needs of the younger and creating an open air oap home
I'm not taking it personally, I take nothing on the net personally.
At what age should I be set afloat on an ice flow? thought you weren't taking it personally?".
🥶 | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. But people are blaming the older generations for everything by the look of it. All the time the younger generation are busy blaming us they're punching down on the wrong people and that is the very clever propaganda that has been subtly played out over the last few years. "Look over there at those old people taking all your stuff " says the multi millionaire who isn't paying tax, paying their worker minimum wage on zero hours contracts and allowing the government to top them up with benefits. 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you So you're angry at 20% of old people? " I'm not angry at anyone. I think it's time for boomers to realise what the state has provided them. What they've taken away from the younger generations and stop blaming black and brown people for what they've created. | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren " Again. Not all We had it so easy didn't we. We didn't have to scrimp to get by because there was no money left before the end of the week, we didn't have 15% mortgages at one point, we didn't have to save up for anything big and do without until we had ( although I am a lover of saving up rather than borrowing ) Lower costs came with lower wages. My first job was £25 a week. We had a free bottle of milk in schools, certain ages still get it in schools. It was only free higher education if you were in a position to use it, most people left school at 16 and went straight into a job ( if you could get one ) In comparison to wages the houses were not cheaper. It was a slog. We had three holidays in the 25 years of paying off the mortgage. Dental treatment wasn't free. I don't know why people are posting as if what they say is gospel and applies to everyone, but it doesn't help a debate when there is so much of it. | |||
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" So you're angry at 20% of old people? " No. Just angry. And frustrated. And doesn't really understand these things, so emotion takes over. Very human, and not uncommon. Yes, that sounds pejorative and condescending, but it sums up much of the country. Sometimes people can be educated or reasoned out of feeling like this, or can improve their fortunes so that they're less angry, but for many people it's ingrained. | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren Again. Not all We had it so easy didn't we. We didn't have to scrimp to get by because there was no money left before the end of the week, we didn't have 15% mortgages at one point, we didn't have to save up for anything big and do without until we had ( although I am a lover of saving up rather than borrowing ) Lower costs came with lower wages. My first job was £25 a week. We had a free bottle of milk in schools, certain ages still get it in schools. It was only free higher education if you were in a position to use it, most people left school at 16 and went straight into a job ( if you could get one ) In comparison to wages the houses were not cheaper. It was a slog. We had three holidays in the 25 years of paying off the mortgage. Dental treatment wasn't free. I don't know why people are posting as if what they say is gospel and applies to everyone, but it doesn't help a debate when there is so much of it." Do you not understand the words, cohort and generalisation? | |||
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" So you're angry at 20% of old people? No. Just angry. And frustrated. And doesn't really understand these things, so emotion takes over. Very human, and not uncommon. Yes, that sounds pejorative and condescending, but it sums up much of the country. Sometimes people can be educated or reasoned out of feeling like this, or can improve their fortunes so that they're less angry, but for many people it's ingrained." Lol | |||
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"They've been a massive let down on immigration and Starmer, Yvette and Shabana should go for that alone. But they have done other good stuff " Do you mean that they've been a let down because they promised to lower migration and haven't done so, or that they're a let down for promising to reduce migration in the first place? | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. But people are blaming the older generations for everything by the look of it. All the time the younger generation are busy blaming us they're punching down on the wrong people and that is the very clever propaganda that has been subtly played out over the last few years. "Look over there at those old people taking all your stuff " says the multi millionaire who isn't paying tax, paying their worker minimum wage on zero hours contracts and allowing the government to top them up with benefits. 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you So you're angry at 20% of old people? I'm not angry at anyone. I think it's time for boomers to realise what the state has provided them. What they've taken away from the younger generations and stop blaming black and brown people for what they've created. " You do seem quite annoyed to be fair. You're also generalising and I for one find it quite offensive that you assume 'boomers' are blaming black and brown people for everything. You say if it's not me it's not me you're punching down on but you continue to generalise about my generation without qualifying your statements | |||
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"UK housing costs have created a severe intergenerational wealth divide, with Millennials and Gen Z facing the highest lifetime housing costs, often spending over 35% of their income, compared to roughly 15% for postwar generations. Average UK house prices now exceed 7–9 times average earnings, making them the least affordable in nearly 150 years, with Baby Boomers owning most housing wealth. Housing Costs by Generation Baby Boomers (born 1946–1964): Entered the market when homes were roughly 2–3 times annual income. They benefited from lower price-to-income ratios and now own the majority of Britain's housing wealth, often mortgage-free. Generation X (born 1965–1980): Experienced rising prices, particularly during the late 80s/early 90s, but largely managed to secure homeownership before the sharpest increases in the 2000s. Millennials (born 1981–1996): Face the highest lifetime costs, often paying high rent which limits the ability to save for deposits. They are often forced into longer commutes and smaller homes compared to previous generations at the same age. Gen Z (born 1997–2012): Faces the most extreme affordability crisis, with first-time buyer deposits rising from 55% of household income in 2000 to nearly 94–142% (in London) by 2025. (UK Parliament briefing paper) " This!! Well done | |||
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"They've been a massive let down on immigration and Starmer, Yvette and Shabana should go for that alone. But they have done other good stuff Do you mean that they've been a let down because they promised to lower migration and haven't done so, or that they're a let down for promising to reduce migration in the first place?" No they promised change and have continued Braverman cruelty | |||
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" 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you So you're angry at 20% of old people? I'm not angry at anyone. I think it's time for boomers to realise what the state has provided them. What they've taken away from the younger generations and stop blaming black and brown people for what they've created. " Is that all boomers or just millionaires? | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren Again. Not all We had it so easy didn't we. We didn't have to scrimp to get by because there was no money left before the end of the week, we didn't have 15% mortgages at one point, we didn't have to save up for anything big and do without until we had ( although I am a lover of saving up rather than borrowing ) Lower costs came with lower wages. My first job was £25 a week. We had a free bottle of milk in schools, certain ages still get it in schools. It was only free higher education if you were in a position to use it, most people left school at 16 and went straight into a job ( if you could get one ) In comparison to wages the houses were not cheaper. It was a slog. We had three holidays in the 25 years of paying off the mortgage. Dental treatment wasn't free. I don't know why people are posting as if what they say is gospel and applies to everyone, but it doesn't help a debate when there is so much of it. Do you not understand the words, cohort and generalisation?" Do you not understand being clear about who people are posting about? | |||
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" As far as housing costs go I know they're higher now than when we were young interest rates are considerably lower. We paid 15% on our mortgage at one point and felt lucky to get 10% fixed. We can’t blame the older generations for buying houses and the state not building enough for the next generation. The ons provides birth statistics annually so the state knows well in advance what public services, and housing will be required But, the benefit of lower interest rates is lost when housing costs nine times income and mortgages are 6/7/8 times income. And mortgages are commonly 30 - 35 year term now. But people are blaming the older generations for everything by the look of it. All the time the younger generation are busy blaming us they're punching down on the wrong people and that is the very clever propaganda that has been subtly played out over the last few years. "Look over there at those old people taking all your stuff " says the multi millionaire who isn't paying tax, paying their worker minimum wage on zero hours contracts and allowing the government to top them up with benefits. 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you So you're angry at 20% of old people? I'm not angry at anyone. I think it's time for boomers to realise what the state has provided them. What they've taken away from the younger generations and stop blaming black and brown people for what they've created. You do seem quite annoyed to be fair. You're also generalising and I for one find it quite offensive that you assume 'boomers' are blaming black and brown people for everything. You say if it's not me it's not me you're punching down on but you continue to generalise about my generation without qualifying your statements " I qualifying them by stating I'm making generalisations based on polls. Read up. I make these statements with evidence from more in common or yougov | |||
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" 1 in 5 old people are millionaires They are the millionaires If your not we ain't punching at you So you're angry at 20% of old people? I'm not angry at anyone. I think it's time for boomers to realise what the state has provided them. What they've taken away from the younger generations and stop blaming black and brown people for what they've created. Is that all boomers or just millionaires?" Yes all boomers need to realise how lucky they were. Not all boomers are millionaires but 25% are | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren Again. Not all We had it so easy didn't we. We didn't have to scrimp to get by because there was no money left before the end of the week, we didn't have 15% mortgages at one point, we didn't have to save up for anything big and do without until we had ( although I am a lover of saving up rather than borrowing ) Lower costs came with lower wages. My first job was £25 a week. We had a free bottle of milk in schools, certain ages still get it in schools. It was only free higher education if you were in a position to use it, most people left school at 16 and went straight into a job ( if you could get one ) In comparison to wages the houses were not cheaper. It was a slog. We had three holidays in the 25 years of paying off the mortgage. Dental treatment wasn't free. I don't know why people are posting as if what they say is gospel and applies to everyone, but it doesn't help a debate when there is so much of it. Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about?" I can't take responsibility that people "feel" something because they fall into a category | |||
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" Transfer to a SIPP, move up UAE and take it all tax free. Also collect state pension. I may have missed something (my pension is in a sipp). ‘The maximum tax-free lump sum is capped at £268,275’ ? " If you draw down from your SIPP as a UAE tax resident, you pay no tax. Flexi-access drawdown. | |||
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" Yes all boomers need to realise how lucky they were. Not all boomers are millionaires but 25% are" Can we also make generalisations like this about blacks, gays, Muslims and Jews? | |||
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"1 in 4 pensioners are millionaires Whereas 1 in 4 if younger generations are benefit sponges and lazy good for nothings Did you ever question the world your generation voted for? Not everyones votes for the same party, whatever their age We know, we have polls. The boomers are more likely to vote for reform. They also were more likely to support Brexit. They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. So as a cohort they've had everything and voted to make things worse for their children and grandchildren Again. Not all We had it so easy didn't we. We didn't have to scrimp to get by because there was no money left before the end of the week, we didn't have 15% mortgages at one point, we didn't have to save up for anything big and do without until we had ( although I am a lover of saving up rather than borrowing ) Lower costs came with lower wages. My first job was £25 a week. We had a free bottle of milk in schools, certain ages still get it in schools. It was only free higher education if you were in a position to use it, most people left school at 16 and went straight into a job ( if you could get one ) In comparison to wages the houses were not cheaper. It was a slog. We had three holidays in the 25 years of paying off the mortgage. Dental treatment wasn't free. I don't know why people are posting as if what they say is gospel and applies to everyone, but it doesn't help a debate when there is so much of it. Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about?" So you have to ban us talking about polls, because polls are generalisations | |||
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" Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about? I can't take responsibility that people "feel" something because they fall into a category " I am guessing you have decided not to answer as I quoted where you contradicted yourself on another post, but no problem | |||
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" Yes all boomers need to realise how lucky they were. Not all boomers are millionaires but 25% are Can we also make generalisations like this about blacks, gays, Muslims and Jews?" Are they lucky? Have they had a boom that denies other people? Or is it the other way round? | |||
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"WInvesting in British stock is a good thing. We are actually good at creating companies unfortunately American money then buys them. If we could redirect pension funds to invest in British company and take risks it would crest growth" You have it the wrong way round. It's not that lack of investment stunts UK company growth, it's that lack of UK company growth results in little investment. Investment funds only care about money. If UK companies were likely to make lots of money, investment funds would be queuing up to buy them. But the corporate environment in the UK means that companies are unlikely to grow anywhere near as fast as those in other countries, so investment funds look elsewhere. | |||
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"Perhaps boomers got it right by having lots of kids to pay for their retirement... 🤔" But they didn't, the birth rate has fallen since the boomers. Hence why they are the boomer's | |||
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" Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about? So you have to ban us talking about polls, because polls are generalisations " You are over reaching there | |||
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" Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about? I can't take responsibility that people "feel" something because they fall into a category I am guessing you have decided not to answer as I quoted where you contradicted yourself on another post, but no problem "Ok...I have no idea. I'm human, we tend to be complicated. Bring me evidence of what you state | |||
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"Perhaps boomers got it right by having lots of kids to pay for their retirement... 🤔" No need, the million pounds houses will do that | |||
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"Perhaps boomers got it right by having lots of kids to pay for their retirement... 🤔 But they didn't, the birth rate has fallen since the boomers. Hence why they are the boomer's " The "boom" was post-war, making up for those lost years and population. It's been a downward trend since then, with subsequent generations falling well below replacement rates. | |||
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" Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about? So you have to ban us talking about polls, because polls are generalisations You are over reaching there" That's what you implied, we have to be specific or was it clear about who we post? Well, you can't be clear when talking about polls and cohorts. It isn't my fault that others "feel" something when I talk about them | |||
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" They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays." They only got free milk at junior school, and even then not all of them. Higher education was by grant, but it was means tested, so only the very poor got it for free. Housing now is more expensive, but the average household still has more disposable income after housing costs have been paid. It was only kids that got free dentistry, which I think is the same as now. The average family now takes 2 foreign holidays a year, where for boomers air travel was an expensive luxury. | |||
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" They also had free milk, free higher education, lower rent, cheap housing comparative to wage. Free dentistry. They could afford holidays. They only got free milk at junior school, and even then not all of them. Higher education was by grant, but it was means tested, so only the very poor got it for free. Housing now is more expensive, but the average household still has more disposable income after housing costs have been paid. It was only kids that got free dentistry, which I think is the same as now. The average family now takes 2 foreign holidays a year, where for boomers air travel was an expensive luxury." Yes that's why people dread getting on planes with babies and children. It was unheard of for most of our contemporaries to go abroad with kids but visit any airport in the summer and you'll see plenty of families. I don't blame them I actively encourage people to live their best life | |||
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" Do you not understand the words, cohort and generalisation? Do you not understand being clear about who people are posting about? So you have to ban us talking about polls, because polls are generalisations You are over reaching there That's what you implied, we have to be specific or was it clear about who we post? Well, you can't be clear when talking about polls and cohorts. It isn't my fault that others "feel" something when I talk about them" So for me to understand, are you saying I am going to place a ban on you for talking about polls? If so you have indeed over reached. If I was to ban you for something that broke rules,I wouldn't imply it , it would just happen. If you don't want people to challenge your posts the it is probably better to be clear of what is being posted. If you mean "some" people in a cohort say that and it may stop anyone challenging. You asked me to point out posts of yours that I quoted, it is further up if you want to scroll. | |||
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