Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


Results 1 to 7 of 7
  1. #1

    Default Question re state pensions

    Does the UK government have a reserve to meet some of its state benefit liabilities ?

    I cannot see any mention online and it raised the question as to whether government only meets pension liabilities out of current revenues.

    UK regulators do no allow pension companies to operate in this way and I would question why government does not appear to put money away, other than a general reserve which is quite small.

    Of course government can raise taxes and cut spending, but in the years ahead we will have a growing number of people of retirement age and working people increasingly facing reduced real term incomes, because of population growth, increased competition from abroad and technology replacing the need to employ the same number of people.

    If government struggles to gain the revenues, faces increasing cost of healthcare, education, defence etc and meet with election barriers preventing them from increasing tax rates/scope, then they will get themselves into a hole if another crash hit like in 2007/08.


  2. #2

    Default Re: Question re state pensions

    People feel we are seeing the start of the end of a state pension. We've seen the state pension age rise, who's to say the date you are given now to get your pension is not going to change again. First it may be 67 then before you get there it changes to 70. It looks unsustainable in it's present form.


  3. #3

    Default Re: Question re state pensions

    Quote Originally Posted by determindator View Post
    People feel we are seeing the start of the end of a state pension. We've seen the state pension age rise, who's to say the date you are given now to get your pension is not going to change again. First it may be 67 then before you get there it changes to 70. It looks unsustainable in it's present form.
    What annoys me is that the politicians are quite willing to protect current pensioner benefits, because they know these people tend to vote. The politicians must know that future generations probably won't receive much of a state pension and they probably won't get the winter fuel allowance, free bus travel etc.

    In 20 years time, I suspect that the state retirement age will be 70+ and the pension will be lower than it is currently in real terms. The government just does not get the tax revenues in to fully fund all the current expenditure required to run the country. They won't increase standard rates of tax because that is difficult at elections, so they have to hide lots of sneeky taxes. At some point politics has to be changed, as it not doing most people any good. Government should be taxing enough, so they can fund services properly, they don't run a budget deficit and can afford to put money to one side.


  4. #4

    Default Re: Question re state pensions

    I have moved this thread out of the Bear Garden and into the Pension forum.


  5. #5

    Default Re: Question re state pensions

    UB, my understanding has always been that there isn't a State pension 'fund'. This year's benefits are paid from this year's contributions.

    HB


  6. #6

    Default Re: Question re state pensions

    ..but that could be about to change.

    http://www.thisismoney.co.uk/money/p...cash-runs.html

    HB


  7. #7

    Default Re: Question re state pensions

    Back on 1908 the NI contributions paid for your pension. That link was lost some time ago and now NI is just another tax and pensions are seen as a taxable benefit rather than deferred pay.
    Ther is no fund for the old age pension, nor civil servants, police, teachers etc either. they may well pay a superannuation but the money doesnt go into a pot like most other occupational pensions but straight to the treasury.
    The obligation to provide a pension clobbers any chance of any government balancing the books hence the keenness on getting people to look after themselves. Trouble is, many people dont know enough to plan and even those that can plan dont always have the financial security to do so. If you then start to factor in any care costs required in the future then most people would be thinking of spending their pension pot before they get ill and gamble on not being thrown out of hospital onto the streets when they cant pay for a carer.


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