That’s not how the state pension works

It’s not like a private pension where you pay into a fund, the fund is preserved and then you draw it down. It’s all funded from CURRENT taxes.

So if you're working now, you are directly funding the state pensions of others. Just as when THEY were working, THEIR taxes directly funded the pensions of others.

Posted By: Old Git on September 11th 2024 at 12:31:31

Message Thread

Can I have a round of applause for .... (General Chat) - ghostof barry butler, Sep 11, 09:21:16
- Indeed (General Chat) - ParrotPuncher, Sep 11, 09:37:29
  - money well spent (General Chat) - Cable Gap Pioneer, Sep 11, 13:29:59
  - Terwatttt (n/m) (General Chat) - Augustus Pablo, Sep 11, 10:44:04
  - “Leftist” (General Chat) - lurd, Sep 11, 10:41:05
  - With respect, you know nothing about the accommodation in those hotels (General Chat) - APB, Sep 11, 10:34:51
    - ^ Assembles Pet Buffets (n/m) (General Chat) - Ken Dodds Dads Dog, Sep 11, 11:26:41
    - We've all stayed in a hoilday inn pal (n/m) (General Chat) - ParrotPuncher, Sep 11, 11:23:08
      - Hilarious (General Chat) - APB, Sep 11, 11:57:26
    - ^^this^^ (n/m) (General Chat) - Augustus Pablo, Sep 11, 10:38:33
      - I could have shortened that post (n/m) (General Chat) - APB, Sep 11, 11:58:24
  - Enjoying your day off so far (n/m) (General Chat) - Adster, Sep 11, 09:39:42
    - ..? (n/m) (General Chat) - Adster, Sep 11, 09:40:07
      - 👍 (n/m) (General Chat) - ParrotPuncher, Sep 11, 09:49:26
- Voting for pensioner handouts? (General Chat) - SCC 28, Sep 11, 09:35:34
  - You are seriously out of touch my friend (General Chat) - Highlander, Sep 11, 12:14:16
    - I was talking about the triple lock (General Chat) - SCC 28, Sep 11, 16:14:35
    - That’s not how the state pension works (General Chat) - Old Git, Sep 11, 12:31:31
      - Technically, that's obviously true (General Chat) - paulg, Sep 11, 14:24:22
        
        Nobody is saying the pension should be scrapped (n/m) (General Chat) - SCC 28, Sep 11, 16:12:03
      - Yes, this... all state pensions are funded from current taxation (n/m) (General Chat) - Worthing Yellow, Sep 11, 12:34:22
- Now it may sound odd but I do agree in some sort of means testing but set at a much lower (General Chat) - Augustus Pablo, Sep 11, 09:34:41
  - I think pretty much everyone agrees with that - the issue is not really means testing (General Chat) - Jim, Sep 11, 10:18:33
    - Excuse my ignorance, but how would making the WFA a taxable benefit work? (General Chat) - NxNW, Sep 11, 13:15:13
      - Do they not do that anyway if they have income above the tax free allowance? (General Chat) - Jim, Sep 11, 13:21:53
        
        My assumption was that very few would, perhaps only those with investments etc that (General Chat) - NxNW, Sep 11, 15:00:07
        
        As an OAP...... (General Chat) - rosarios_school_tie, Sep 11, 17:23:05
    - Two thoughts (General Chat) - Under soil heating, Sep 11, 11:14:28
      - They used the council tax banding previously for something or other (General Chat) - jamesward, Sep 11, 12:18:15
    - Yeah I agree with this, I was supportive of the idea initially, till I understood the cut (General Chat) - megson, Sep 11, 11:00:35
    - It’s mental. A massive own goal (n/m) (General Chat) - jamesward, Sep 11, 10:28:23
  - Agreed. (General Chat) - NxNW, Sep 11, 09:50:35
    - Its the pension credit threshold which is about 11,000 per annum. (n/m) (General Chat) - Jim, Sep 11, 10:19:13
  - Vmt (n/m) (General Chat) - loz, Sep 11, 09:49:15

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