Starmer

[monmouth]

I'm 66 in a few months but want to keep going part time as it's the only thing that stops my brain turning to mush. With no kids, it's really important to find a purpose. Volunteering might be one way, but I would only depress all the old folks...

 

[Niigata Jack]

You stop paying NI once you reach state pension age (slightly different rules for the self employed).

That's not what that chap said this morning

 

[Niigata Jack]

You stop paying NI once you reach state pension age (slightly different rules for the self employed).

He must have retired at the then state pension age of 65 and has assumed, but he was pretty adamant.

I think it disgusting that when you are classed to have a full stamp after paying in for 35yrs that you still got to pay NI, 47yrs I have been paying it and I've still got another 3yrs of paying into to it, some have paid in for longer.

These fuckers who make these decisions wont being paying in for anything like that length of time though, they earn more than enough to ferret a decent amount away offshore no doubt!

 

[Niigata Jack]

I'm 66 in a few months but want to keep going part time as it's the only thing that stops my brain turning to mush. With no kids, it's really important to find a purpose. Volunteering might be one way, but I would only depress all the old folks...

You got a cracking Fishery on your doorstep up where you are called Redhill Fishery, kit yourself out and get up there fishing that'll be testing enough trying to work out on how to catch those fishies

 

[K23]

I'm 66 in a few months but want to keep going part time as it's the only thing that stops my brain turning to mush. With no kids, it's really important to find a purpose. Volunteering might be one way, but I would only depress all the old folks...

I worked full time until I was 70 and have been part time since and I'm glad I did because I can't imagine what I'd have done with my days if I hadn't tbh. The summer's not too bad but the winters wouldn't be much fun.

 

[Cooperman]

That's not what that chap said this morning

Hmm, I think he’s got it wrong.

 

[Cooperman]

He must have retired at the then state pension age of 65 and has assumed, but he was pretty adamant.

I think it disgusting that when you are classed to have a full stamp after paying in for 35yrs that you still got to pay NI, 47yrs I have been paying it and I've still got another 3yrs of paying into to it, some have paid in for longer.

These fuckers who make these decisions wont being paying in for anything like that length of time though, they earn more than enough to ferret a decent amount away offshore no doubt!

The continuation of NI payments is one of the drawbacks of working for longer than 35 years. I’m not sure that stopping contributions at 35 years is the right answer, but it’s not something I have really thought of.

 

[Londonlisa2001]

Been told this morning by a former County Counsellor that you don’t pay NI once you reach 65, he was pretty sure on that, as he didn’t once he reached 65.

It currently stops at state retirement age. Which is no longer 65 but was until recently.

Although I wouldn’t be surprised if it’s changed at some point so you pay NI on earnings at any age.

 

[Londonlisa2001]

The continuation of NI payments is one of the drawbacks of working for longer than 35 years. I’m not sure that stopping contributions at 35 years is the right answer, but it’s not something I have really thought of.

It’s just tax these days so you should continue paying it.

Likewise the upper earnings limit should be discarded.

And I’m over my 35 years and still pay it so I’m affected by what I’ve just said.

 

[Cooperman]

It’s just tax these days so you should continue paying it.

Likewise the upper earnings limit should be discarded.

And I’m over my 35 years and still pay it so I’m affected by what I’ve just said.

All part of a tax system that is ripe for a massive simplification.

 

[Londonlisa2001]

All part of a tax system that is ripe for a massive simplification.

Completely agree.

NI in particular causes confusion as people still think it’s somehow different to normal income tax and ‘pays for my pension’ when it does nothing of the sort.

Edited to add- it would also help with the conversation about immigration if people understood this stuff.

 

[exiledclaseboy]

I pay very little attention to my pension. I’m 53 now so I suppose I should.

 

[Cooperman]

Completely agree.

NI in particular causes confusion as people still think it’s somehow different to normal income tax and ‘pays for my pension’ when it does nothing of the sort.

Edited to add- it would also help with the conversation about immigration if people understood this stuff.

There used to be a statutory body looking at tax simplification but it’s been closed down somewhere along the way.

 

[Pegojack]

I'm 66 in a few months but want to keep going part time as it's the only thing that stops my brain turning to mush. With no kids, it's really important to find a purpose. Volunteering might be one way, but I would only depress all the old folks...

My investment portfolio keeps me fairly busy, and I created one for an ex pat neighbour who was being messed about by a British investment firm (another benefit of Brexshit). I also do my Spanish tax return online (Spanish forms to be filled in) as well as my partner's and the neighbour, as well as another taxman's red tape form called Modelo720, where you have to declare all your assets outside Spain over a certain value.
I like to travel, like coming over to see the first game of the season next weekend. Just booked four days away in Bologna and Lucca in October, couldn't resist the air fares, 46€ return Valencia to Bologna with Ryanair!

 

[exiledclaseboy]

There used to be a statutory body looking at tax simplification but it’s been closed down somewhere along the way.

It’s not just personal taxation either. When I first started doing what I do in the late 90s there were about a dozen rates of vehicle excise duty (road tax). One for motorcycles, a couple for cars and a few for HGVs depending on weight, axle configuration etc. now there are literally hundreds and it’s almost indecipherable.