The Benefits System

[Niigata Jack]

Surely this can't continue to go on, it's ridiculous.

'Shameful' more spent on benefits than jobs for young people, says adviser Alan Milburn

Reforms are needed of the welfare system to tackle the high numbers of young people not in work or education, says Alan Milburn.

www.bbc.co.uk

 

[Smurph]

Surely this can't continue to go on, it's ridiculous.

'Shameful' more spent on benefits than jobs for young people, says adviser Alan Milburn

Reforms are needed of the welfare system to tackle the high numbers of young people not in work or education, says Alan Milburn.

www.bbc.co.uk

Didn't the current government try to introduce welfare reform before Starmer shit the bed.

 

[Niigata Jack]

Didn't the current government try to introduce welfare reform before Starmer shit the bed.

No idea Smurph just saw the above on BBC Online.

 

[monmouth]

The biggest part of the benefits bill is pensions. Lazy old bastards.

 

[Niigata Jack]

The biggest part of the benefits bill is pensions. Lazy old bastards.

"Lazy old bastards." I'll be joining them a year November, may even be sooner.

 

[Pegojack]

"Lazy old bastards." I'll be joining them a year November, may even be sooner.

I now you're only joking, but I'd just like to remind the less well educated amongst us that pensioners are not getting something for nothing, the vast majority of us paid into the pot every f*cking week of our working lives, and we're now getting out again what's rightfully ours.

 

[Niigata Jack]

I now you're only joking, but I'd just like to remind the less well educated amongst us that pensioners are not getting something for nothing, the vast majority of us paid into the pot every f*cking week of our working lives, and we're now getting out again what's rightfully ours.

Its a poor return after paying in for 40-50 years Pego

 

[Glyn1]

I now you're only joking, but I'd just like to remind the less well educated amongst us that pensioners are not getting something for nothing, the vast majority of us paid into the pot every f*cking week of our working lives, and we're now getting out again what's rightfully ours.

You're getting what's rightfully yours plus a hell of a lot more. There are too many OAPs and too few working people whose taxes fund the triple lock, which should be abolished.

 

[J_B]

More than half the social security budget is going on state pension. I am one of them and so is Mrs J_B.
Meanwhile, young families with children are struggling to manage or get on the housing market. The triple lock is a luxury that the country can't afford but it wins votes.

 

[Glyn1]

"Lazy old bastards." I'll be joining them a year November, may even be sooner.

If NJ does start getting his pension this year and lives for another 20 years, then he'll receive a quarter of a million pounds over that period. Very good luck to him of course.

Seriously, anyone here who is over 50 (not just 60) should book a free appointment with Pension Wise, which is a Govt service: moneyhelper.org.uk/pensionwise

https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise

 

[ThurrockJack]

Its a poor return after paying in for 40-50 years Pego

That isn't really the reality. The facts are that the average pensioner will be taking more out of the systems than they ever put into it after about 9 years of drawing a pension.

 

[Neath_Jack]

If NJ does start getting his pension this year and lives for another 20 years, then he'll receive a quarter of a million pounds over that period. Very good luck to him of course.

Seriously, anyone here who is over 50 (not just 60) should book a free appointment with Pension Wise, which is a Govt service: moneyhelper.org.uk/pensionwise

https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise

Not following the thread so not sure if you mean me, but if you do, no I’m a fair way off that yet. Doubt there’ll be a state pension by then, unless they start mean testing it or getting out of the triple lock.

 

[Pegojack]

You're getting what's rightfully yours plus a hell of a lot more. There are too many OAPs and too few working people whose taxes fund the triple lock, which should be abolished.

Having read up on it today, I have to concede that you are absolutely correct.
Here's the truth of it:
Mathematically, the state pension is equivalent to an annuity purchased with around £300,000 of private savings and investments. To pay that much national insurance over your working life, your career average salary would need to be £50,000 - the overwhelming majority of current pensioners clearly won’t have met that threshold.

Lucky us.

 

[Niigata Jack]

That isn't really the reality. The facts are that the average pensioner will be taking more out of the systems than they ever put into it after about 9 years of drawing a pension.

Well I doubt that most pensioners can live on £12.500 a year, I can claim my state pension in November 2027, I'd have worked for just over 50yrs, so £12.500 a year isn't a decent return in my opinion, I don't care who disagrees it's my own opinion.

 

[exiledclaseboy]

Well I doubt that most pensioners can live on £12.500 a year, I can claim my state pension in November 2027, I'd have worked for just over 50yrs, so £12.500 a year isn't a decent return in my opinion, I don't care who disagrees it's my own opinion.

£250k if you get it for 20 years and that’s without taking into account the baked in increases every year. Don’t want much do you.