Quote:
Originally Posted by Jaymoss
So I reiterate how is any of that the fault of those who are fortunate enough to have paid into pensions worked their whole life and are comfortable in retirement? Yeah it is likely the last group to be that fortunate. I just think a lot of people approaching pension age now are just jealous they wont be as comfortable as those older.
My Dad worked hard all his life. Did not have a great deal for most his life. I certainly do not begrudge him his comfortable twilight years
|
This is the thing… nobody actually “paid in”. It comes from present day tax revenues and current expenditure (as it always has).
In 1948, when it was set at 65 for men and 60 for women. Life expectancy was about 67. The population had grown over time meaning payments have traditionally been a relatively small amount of all expenditure.
Now people are living longer making it a greater proportion of the current expenditure. It’s £100bn, up from a mere £40bn 20 years ago.
I don’t think anyone is jealous at all - there’s simply a legitimate question about the best use of limited resources.
---------- Post added at 23:04 ---------- Previous post was at 22:58 ----------
Quote:
Originally Posted by 1andrew1
In the private sector, virtually all have been canned. But in the public sector, they're still the norm. That includes the NHS, local councils, the government, universities, armed forces, emergency services, etc.
|
Most have been moved into an average salary scheme going forward.