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Our State Pension.

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Summation of the facts but it does make you think doesn't it.

 

Medical science is helping mankind live longer but it seems that we should feel guilty for

being a drain on society for taking our pension that we've paid for.

 

Just to cheer you up……how did a pension we all paid into suddenly become a benefit. ?????

Worth some thought - Where did all the money go????

 

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE

PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE

THEY EVER COLLECTED OLD AGE PENSION.

 

WHERE DID ALL THAT MONEY GO?

 

Remember, not only did you and I contribute to our Pension, our employer did, too.

It totalled 15% of your income before taxes.

If you averaged only £15,000 over your working life, that's close to £220,500.

Read that again. Did you see anywhere that the Government paid in one single penny ?

We are talking about the money you and your employer put in a Government bank to ensure that you

and I would have a retirement pension from the money we put in, it was not money that the Government had

any right to spend elsewhere.

 

 

Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.

If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the govt. pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.

 

If you took out only 3% per year, you'd receive £26,787.60 per year and it would last better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit !

If you bought an annuity with the money and it paid 4% per year, you'd have a lifetime income of £1976.40 per month.

 

THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY THAN THE GREAT TRAIN ROBBERS EVER DID.

 

Entitlement !!?? My foot !! IT'S MY MONEY !! I paid IN cash for my pension.

Just because they borrowed the money to spend on other things, that doesn't make my pension some kind of charity or hand out!!

 

Remember MP's benefits ? --- free healthcare, outrageous retirement packages, 67 days paid holidays, three weeks paid vacation, unlimited paid sick days. Now that really should be called welfare entitlements, yet they have the nerve to call my O A P retirement payments entitlements ?

 

We're "broke" and the government can't help our own OAPs, our ex-service personnel, our orphans or our homeless.

 

Yet in the past few years we have provided aid to Haiti, Chile, Turkey, India, Pakistan, etc., etc., etc. Literally,

BILLIONS of Pounds !!! And they can't help our own citizens !

 

Our retired seniors living on a 'fixed old age pension have to beg social services to receive additional aid, while our government and religious organisations pour hundreds of billions of £££ tons of food to foreign countries !

 

They call the old age pension an entitlement even though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money. Why did the government borrow from it in the first place ? It was supposed

to be in a securely locked box, not to be used as part of the Government's general funds.

 

PS Our Road Tax payments should go back to paying for the maintenance of our roads, like they were meant for.... Who changed that?

Edited by citizenB
formatted

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State pensions are not guaranteed before the state pension age.

 

If you wrote to DWP asking for a guarantee in writing that you will receive a state pension based on years NI contributions made, they would not provide any guarantee. Any response would be full of caveats, that all pension arrangements are subject to the state pension scheme at the time any entitlement is due. If a future government did not have the money, they would change the rules. E.g increased retirement age.

 

My Mum died within months of receiving a state pension and my Dad within 5 years of getting his. He paid into the system for 45 years and when he came to claim his pension had to disclose the private pensions he had. At the time there was a rule that you could not earn combined pension income of more than two thirds final salary without it affecting you. There was some adjustment made, which i can remember annoyed him at the time, as he had paid his way and also put money away into private pensions.

 

Always annoys me when people say everyone is living longer. Average life expectancy is increasing, but the rise is not massive over the last say 30 years. Young people now below 30, are likely to have started working lifes later and will have to retire much later. They are unlikely to be as well off in retirement as current pensioners, unless they are earning enough to invest spare money wisely.


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Indeed, and presumably in respect of the MPs, with all the "benefits" they receive, they will also be "entitled" to a state pension on top !!


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As for Road Tax ...

 

https://en.wikipedia.org/wiki/Road_Fund

 

 

At the time Lloyd George announced that the roads system would be self-financing so from 1910 the proceeds of road vehicle excise duties, which had been in existence in various forms since 1889, were dedicated to fund the building and maintenance of the road system under a scheme known as the Road Board. Under the Roads Act of 1920 the Road Board was replaced by the Road Fund, dedicated solely to road building on the basis that no other claims would be made on the Exchequer for construction of new roads.

 

The Road Fund was never fully utilised, returning a surplus each year, and it became notorious for being used for other government purposes. Winston Churchill opposed the Road Fund, saying: "It will be only a step from this for them to claim in a few years the moral ownership of the roads their contributions have created". In 1926 as Chancellor of the Exchequer Churchill sought, successfully, to redirect a third of payments as taxation on luxury and pleasure uses with the stated aim of putting competition between road and rail on a fair basis. At the same time, the majority of road building and maintenance costs were met from general and local taxation.

 

 

 

 

In 1932 Lieut. Colonel Moore-Brabazon said in a debate in the House of Commons about the Road Fund: "This vote is different from any other because the money that goes to the Ministry of Transport is motorists' money. It is not Imperial taxation. It is money that comes from the motorists, to be spent on one definite thing, namely, the roads. If the Government come to the conclusion that they are going to spend less money on the roads, they have to make a case to the motorists why they are not going to reduce the taxation upon their cars. If they are going to keep on the same taxation and to spend the money derived from the motorists upon Imperial taxation, let them say so.


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Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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