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, Sep 11, 12:31:31
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- 1Technically, that's obviously true
Posted By: paulg, Sep 11, 14:24:22 - Yes, this... all state pensions are funded from current taxation
Posted By: Worthing Yellow, Sep 11, 12:34:22
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