Confused

[darrell.cook]

Townlad:

Great Britain was once a manufacturing country.

As more and more companies have gone to the wall for various reasons - loss of jobs

 

Loss of jobs = reduction in NI contributions

 

Add to that the amount of immigrants allowed to settle in this country lawfully or unlawfully who have paid NOTHING into the state NI coffers yet receive pensions and benefits.

 

It's looking very bleak for the younger generation in years to come.

 

It's taken a long time to realise but at last the government has realised you can't keep taking out without putting a bit back.

 

Looking in simple terms;

 

Years gone by.

A man retired after a full working life, the people still working paid his pension.

 

Nowadays.

A man retired after a full working life, theres not to much in the pot because not as many people are working to pay his pension, also there are too many people living in this country who have paid nothing into the system yet take what is deservedly the retired persons.

 

In a nutshell;

 

Too many taking - not enough giving.

 

It is bloody scandalous!!!

Plenty of truths there! But this doesn't explain the problem with company pensions - does it ??

Much more to this than that I'm afraid.

 

Leon mentioned the Stock Market - theres the escape!!

[Jim Roper]

The answer is increased 'real' wealth production, and I don't mean printing money to employ more civil servants.

[Little Tinca]

Townlads comments have a lot of truth in them. The scandalous part is those who have given all since 1948 and have to be means tested to get their rightful dues. :mad: :mad:

[Guest gus angus]

When Beverage came up with the N.H.S. he also forsaw that machines would take over the work of people and suggested that machines should therefore be taxed to make up any shortfall (was he right??)

[Gaz51]

darrell.cook:

 

darrell.cook:

Great Britain was once a manufacturing country.

As more and more companies have gone to the wall for various reasons - loss of jobs

 

Loss of jobs = reduction in NI contributions

 

Add to that the amount of immigrants allowed to settle in this country lawfully or unlawfully who have paid NOTHING into the state NI coffers yet receive pensions and benefits.

 

It's looking very bleak for the younger generation in years to come.

 

It's taken a long time to realise but at last the government has realised you can't keep taking out without putting a bit back.

 

Looking in simple terms;

 

Years gone by.

A man retired after a full working life, the people still working paid his pension.

 

Nowadays.

A man retired after a full working life, theres not to much in the pot because not as many people are working to pay his pension, also there are too many people living in this country who have paid nothing into the system yet take what is deservedly the retired persons.

 

In a nutshell;

 

Too many taking - not enough giving.

 

It is bloody scandalous!!!

Plenty of truths there! But this doesn't explain the problem with company pensions - does it ??

Much more to this than that I'm afraid.

 

Leon mentioned the Stock Market - theres the escape!!

Regarding company pensions.

Many pensioners are living longer. Companies are ever diminishing in employees - usually classed as "streamlining" !!! :mad:

 

Therefore - lots of people taking the pension - which they are entitled to.

Less people contributing to the company pension scheme due to company "streamlining"

 

There's your answer.

[darrell.cook]

Your quite right regarding people living longer, regarding streamlining, yes can't be denied in specific instances, in general terms the biggest factor is the stock market.

 

[ 14. October 2004, 10:50 PM: Message edited by: darrell.cook ]

[Lid]

I thought we had already decided that one of the main reasons that company pensions schemes are knackered is because of recently introduced taxes on pension fund growth.

[yoxer]

The purpose of tax NI pensions etc etc and all other such compulsory payments is not and never was intended to give the payer a better lifestyle. It is to keep the rich rich and the poor poor. If you think your not deluded then the delusion is complete.

[yoxer]

A police officer is facing a tax bill of £4,800 after his force paid for an operation to remove a brain tumour.

Hampshire Police agreed to pay for a private operation costing £12,000 after the officer was told he would have to wait eight months for NHS treatment.

 

Chief Constable Paul Kernaghan said it was a "public disgrace" that the Inland Revenue had decided to treat the operation as a taxable benefit.

 

But the Inland Revenue said it was just following well-established tax rules.

 

http://news.bbc.co.uk/1/hi/england/hampshi...ire/3742290.stm

[terryk]

Its true that paying into company pensions wont get you as much as you think. Topping up with AVC's (Additional Voluntary Contributions) requires putting a lot in, to get a little out. Unfortunately, due to one or two pension firms going against the wall in the last few years, current pension companies are very cagey about where they invest YOUR money. Little return on investment means a smaller pension at the end of the day.